CEE Legal Matters In-depth coverage of the news and newsmakers that shape Europe's emerging markets 
CMS has advised UGT Renewables on the cooperation agreement with the Electric Power Utility of Montenegro for the joint development of a large-scale solar energy project in the country.
Komnenic & Associates has advised KrolBay DOO Podgorica in the development of Phase II of the five-star hotel located in Boka Bay to be operated by Hyatt. Schoenherr reportedly advised Hyatt on the deal.
Komnenic & Associates has advised BIG Shopping Centers special purpose vehicle City Mall DOO on its acquisition of the Podgorica City Mall shopping center.
Komnenic & Associates has advised Sunny Estates on the acquisition of the former Hotel Galeb location in Ulcinj from the Roksped Group.
In Montenegro, the Law on protection of personal data is still in power, and was last amended on April 3, 2017 („LPPI“).
With the war in Ukraine raging for more than six months, law firms across the region have reported increased workloads in corporate and M&A, tax, employment, immigration law, and inquiries on the sanctions regimes in relevant jurisdictions, noting that companies from Ukraine, Russia, and Belarus are variously looking for a new home. Whether to avoid sanctions or escape the war, those companies consider a variety of factors in determining where to go.
The Ministry of Ecology, Spatial Planning, and Urbanism of Montenegro („Ministry“) enacted a Rulebook on closer criteria for the assessment of requests for the issuance of urbanistic-technical conditions for the construction of facilities for the production of electricity from renewable sources of the sun and other renewable sources (“Rulebook”). The Rulebook entered into force on the day of its publication in the Official Gazette of Montenegro, i.e., on 12 October 2022.
To comply with the highest European standards and safety conditions – Law on amendments to the Law on payment transactions (“Law”) has been adopted in the Parliament of Montenegro on 29 September 2022. Free movement of capital and full compliance with the Payment Service Directive 2 (“PSD2”) were main reasons for adopting the Law which shall ensure that the provisions of payment services in Montenegro are regulated in the same way as in the member states of the European Union.
PLK Advokati has advised Montenegrin media companies Daily Press and Televizija Vijesti on the sale of a 51% stake to United Media. Schoenherr reportedly advised United Media.
On August 9, 2022, CEE Legal Matters reported that Vukovic & Partners had advised ODM Collections on obtaining a purchase of receivables work license from the Central Bank of Montenegro. CEE In-House Matters spoke with Drazen Stevanovic, CEO at ODM Collections, to learn more about the matter.
According to windeurope.org data, Montenegro was at the top of the list of European countries in terms of the percentage of energy generated by wind farms on April 17, 2022. On that day, the two Montenegrin wind farms, Mozura and Krnovo, produced 45% of Montenegro’s total electricity needs.
Fraught with institutional uncertainty and political instability, times are difficult and uncertain in Montenegro, according to Jovovic Mugosa & Vukovic law office Managing Partner Vanja Mugosa.
Montenegro does not have a foreign investment screening regime comparable to those emerging now in European Union in light of the EU FDI Screening Regulation. It operates a sector-specific authorisation system covering the defence sector.
Schoenherr, working with Pinsent Masons and Wenger Vieli, has advised Kontron on selling parts of Kontron Group’s IT services business to Vinci Energies during a competitive auction process, for approximately EUR 400 million. Reportedly, Baker McKenzie’s German office advised Vinci Energies. Loloci & Associates advised Kontron on Albanian matters.
The long-awaited legal framework defining entrance and residence permits for digital nomads – Law on amendments to the Law on Foreigners (“Law”) has been adopted in the Parliament of Montenegro and it shall enter into force on 11 August 2022.
Vukovic & Partners has advised ODM Collections on obtaining a purchase of receivables work license from the Central Bank of Montenegro.
Montenegro has reached a deadlock in appointing members of the judiciary, with cases being significantly delayed, while the government is on the verge of a vote of no confidence, according to Doklestic Repic & Gajin Attorney-at-Law Danilo Radulovic.
Law office Vujacic was founded in 1971, and in that time it was one of the first law firms in Montenegro. Today it is a modern business law firm with a long and proud tradition of supporting clients by high quality legal services in all areas of corporative, civil and commercial law.
Our team of lawyers has shown a great success in areas such as: Mergers & Acquisitions, Telecommunications/Media, Intellectual Property, Administrative Law, Corporate Law, Finance Law, Competition Law, Real Estate, Dispute Resolution, Employment, Tax issues etc.
As local counsel we have wide experience in all aspects of private and public corporate acquisitions and privatization. Our activities range from conducting due diligence reports, negotiations, preparing security documents and legal opinions.
The guiding principles of our Office are quality, confidentiality, efficient, timely, and cost effective services. We provide efficient legal representation to our clients both on regional and international levels.
All News about, and Legal Analysis by, Law office Vujacic can be found here.
Firm's website: http://www.lawoffice-vujacic.com/
