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Croatia

The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Croatia > Banking, finance and capital markets > Law firm and leading lawyer rankings

Editorial

Index of tables

  1. Banking, finance and capital markets
  2. Leading individuals
  3. Next generation lawyers

Leading individuals

  1. 1

Next generation lawyers

  1. 1

Who Represents Who

Find out which law firms are representing which Banking, finance and capital markets clients in Croatia using The Legal 500's new comprehensive database of law firm/client relationships. Instantly search over 925,000 relationships, including over 83,000 Fortune 500, 46,000 FTSE350 and 13,000 DAX 30 relationships globally. Access is free for in-house lawyers, and by subscription for law firms. For more information, contact david.burgess@legal500.com.

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The ‘knowledgeable’ team at Divjak, Topic & Bahtijarevic provides an ‘excellent service’ on complex banking, finance and capital markets projects. The ‘top class’ Damir Topić and ‘practical’ senior associate Martina Kalamiza advised Croatian packaging producer AFP on the €20m loan provided by the European Bank for Reconstruction and Development (EBRD) to support the expansion of its product range. Mate Lovrić is also recommended, while at associate level Daniela Marasović is appreciated for her ‘responsive and solutions-oriented approach’.

Law Firm Glinska & Mišković Ltd provides a ‘high-quality service’ to Unicredit, BNP Paribas and VTB Bank across syndicated, club and bilateral debt financings. The ‘knowledgeable and proactive’ Aleksej Mišković is ‘one of the best in the country’ across both bank and bond financings; he recently advised Sberbank on the domestic law issues associated with amendments of three loan agreements it had provided to Agrokor. Senior associates Petra Siketić and Anamaria Žuvanić are also recommended for their ‘responsiveness and personal skills’.

Madirazza & Partners has ‘excellent banking and finance insight’ on behalf of international and domestic lenders and corporates. Recent highlights include advising Dalekovod in an offering to existing shareholders and acting for RP Global Group on financing issues associated with its two Croatian wind farm projects. The team has a longstanding relationship with Zagrebačka banka which it regularly assists on project and real estate finance matters, as well as on the refinancing and restructuring of distressed projects. Josip Madirazza has ‘ample banking experience’ and is a key member of the team that also includes the ‘very knowledgeableMorana Herak and the ‘thoughtful and solutions-orientedTin Težak. Senior associate Tatjana Radmilović is recommended for capital markets work.

Led by Luka Rimac, Mamić Perić Reberski Rimac Law Firm LLC handles transactional and regulatory work for corporates, banks and leasing companies. Recent highlights include advising Zagreb City Holding on its €67m bond issuance and representing Addiko Bank on the sale of several NPL portfolios. The team also regularly assists lenders on syndicated loan financings for domestic and foreign companies, including for Privredna banka Zagreb on a €21m syndicated loan to CIAK Group. Frano Belohradsky is also recommended.

Porobija & Porobija has a strong track record in debt and equity capital markets work. Recent highlights include being instructed by Arena Hospitality Group on its €100m IPO and acting for the joint lead managers on the Croatian government’s €1.25m bond issuance. The team also regularly handles project/energy finance transactions, including advising the lead arrangers and lenders on the financing of Phase 2B1 of the Istrian Y Motorway. Team head Željka Rostaš Blažeković is recommended.

Šavorić & Partners provides a ‘responsive and professional’ service to lenders and corporates in bilateral and syndicated deals, capital market transactions, and restructurings. Boris Šavorić recently advised a banking syndicate on a €161m financing to the Fortuna Group. Branimir Žarković left the firm.

Žuric i Partneri provides a ‘reliable and knowledgeable’ service to domestic and international lenders and borrowers across a range of transactions including complex structured finance mandates, as well as on key financial services regulatory issues such as compliance with MiFID II. Despite several recent departures, the firm still contains numerous well-respected individuals including the ‘efficient and dependable’ capital markets expert Duško Žurić, the ‘excellent’ Maja Komljenović, and the ‘outstandingEdin Karakaš.

Babic & Partners Law Firm has significant experience in the market across a broad spectrum of new money deals and refinancings for funds, corporates and banks. Iva Basarić provides ‘detail-oriented advice’ and is a key member of the team that also includes the ‘vastly experienced’ Boris Babić.

Experienced in dealing with foreign investors, banks and lawyers’, Bardek, Lisac, Mušec, Skoko in association with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Austria) is a popular choice for clients seeking to execute complex cross-border financings. ‘Experienced and knowledgeable’ team head Jelena Nushol has a ‘strong following within the Croatian finance community’ and has had a lead role on many of the most significant deals in the market, including her current engagement for a club of international lenders as creditors in the high-profile Agrokor restructuring. Nushol has also been at the forefront of the team’s involvement for buyers and sellers of NPL portfolios and is representing Zagrebačka banka on its continued divestment of NPL portfolios within the retail and corporate sector. Clients also appreciate the team’s ‘talented, up-and-coming associates’ including Ana Erceg.

Bogdanovic, Dolicki & Partners’ practice is ‘very well regarded in the market’ and, as well as generating a raft of direct instructions from lenders and borrowers engaged in banking and capital markets transactions, also leverages the firm’s ‘best friends’ relationship with global firm Hogan Lovells International LLP. Tin Dolicki is recommended.

Praised for its ‘business-minded approach’, Kovacevic Prpic Simeunovic continues to gain market share across a range of financing matters, from consumer lending – where it is recognised by one client as ‘the best in the market’ – to aviation finance, where its work has recently included advice to an international lessor on structuring a warehouse loan facility. Dinka Kovačević is advising Erste Factoring and Raiffeisen Factoring on their respective receivables claims against distressed Croatian holding company, Agrokor. The ‘innovative and responsive’ Danijela Simeunović has ‘great knowledge of the local market’ and is a key member of the team that also includes ‘rising star’ Ana Novaković. The arrival in October 2017 of the ‘knowledgeable and experienced’ Uroš Pavasović from Žuric i Partneri was a major boost for the practice given his first-class banking and finance credentials.

At Macesic & Partners LLC, the ‘very knowledgeableIvana Manovelo recently advised an Estonian financial services company on ensuring compliance with the relevant Croatian framework governing consumer loans to individuals.

At Ostermann & Partners LLP, the ‘detail-oriented’ Mojmir Ostermann and ‘knowledgeable, pragmatic and calm’ Vjekoslav Ivančić act for APS Holding on the acquisition of NPL portfolios; Ostermann handled the purchase of a portfolio with a total exposure in excess of €100m from Hrvatska Postanska Banka.

Leveraging the firm’s M&A, finance and regulatory capabilities, Wolf Theiss - Zagreb branch is regularly involved in high-profile financial services M&A transactions such as its work for a consortium of investors, including Advent and Bain Capital, on the €1bn acquisition of Setefi Group’s card processing business from Intesa Sanpaolo. Team head Vedrana Iveković is noted for her regulatory and transactional expertise; she recently advised EBRD and Abanka on the €16m financing for the Polish Enterprise Fund to facilitate its acquisition of Intersport in Slovenia. Luka Tadić-Čolić is also recommended.

Hanzekovic & Partners is best known for its expertise within the debt recovery arena where it provides ‘responsive and precise advice’ to several of the country’s largest banks including Zagrebačka banka. Irina Jelčić has ‘wide banking and finance knowledge’ and has been particularly active advising on NPL acquisitions, including representing an international investment management firm on a failed bid for the acquisition of Hrvatska poštanska banka’s NPL portfolio. Damir Metelko and Irina Jelčić are also recommended.

Ilić, Orehovec & Partners is recognised in the market for its restructuring/insolvency and debt collection expertise; Tomislav Orehovec is representing Garaza Dubrovnik as debtor on the refinancing of a €17m loan. Martina Šimunović Lepoša and Kresimir Kis are advising NLB Banka AD Skopje as a creditor in the Agrokor restructuring.

Law Office Krehić, Staničić & Gričar’s Tarja Krehić is assisting Slovenian bank Abanka with the structuring of mortgages over properties on behalf of Croatian real estate and construction corporates, as well as across a range of bankruptcy and pre-bankruptcy matters. The team also has substantial experience in the telecoms sector, where it is regularly involved in financing or restructuring mandates as exclusive external counsel to Croatia Telekom and Iskon Internet. Nikolina Staničić is also recommended.

At Law Office Lacmanovic, Natalija Lacmanović provides ‘pragmatic advice’ on new money mandates and restructurings/refinancings, and continues to represent Heta Asset Resolution on developing strategies to deal with defaulted loans.

Headed by Ivana Miloš, the ‘knowledgeable’ team at M&S Partners handles regulatory, litigation and transactional work for domestic and international finance providers including credit card companies and banks. The firm handles debt collection and litigation for clients including Raiffeisenbank and PBZ; it is advising the latter on a raft of credit card debt settlement cases after the bank began selling off its NPL portfolio.

Led by name partner Don Markušic, Markušic Law Offices has significant credibility among foreign financing institutions in particular. Recent work includes assisting the EBRD with the development of a regulatory framework for factoring in Serbia.

At Marohnic, Tomek & Gjoic, Law Firm, the ‘proactive and commercial’ Josip Marohnić and Tonka Gjoić acted for a Swiss fund on its NPL acquisitions, and also continue to advise Balkan Properties on the senior debt refinancing related to Zagreb Logistics Park.

Headed by the ‘responsive and fair’ managing partner Hrvoje Vidan, Vidan Law Office advises domestic and international corporates and financial institutions across a range of new money financings, including acquisition and project finance, restructuring and debt enforcement.

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Legal Developments in Croatia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Implementing Regulations on Public Procurement

    On 1 January 2008 the new Public Procurement Act came into force. However, following the coming into force of the new Act the Public Procurement Office, a regulatory body authorized to develop and coordinate the public procurement system in Croatia reported that in the practice the new Act is actually suspended until the regulations necessary for its implementation are adopted.
  • Amendments to the Personal Data Protection Act

    On 28 March 2008 Croatian Parliament enacted Amendments to the Personal Data Protection Act ("Amendments").
  • Amendments to Civil Obligations Act

    The currently applicable Croatian Civil Obligations Act was enacted in 2005 ("2005 Act") with a goal of harmonizing Croatian legislation with a number of EU Directives relating to combat against late payment in commercial transactions, self-employed commercial agents, sale of consumer goods and associated guarantees, liability for defective products, as well as package travel.
  • Amendments to Electronic Commerce Act

    On 17 June 2008 the Amendments to Electronic Commerce Act ("Amendments") came into force. These amendments are aimed at fully harmonizing Croatian electronic commerce regulations with the relevant EU laws.
  • One-Tier Corporate Governance System Introduced in Croatian Legal System

    On 3 October 2007 Croatian Parliament enacted the Amendments to the Companies Act which should enter into force on 1 April 2008 ("Amendments", "Act"). These Amendments represent the first substantial change to the Act since 2003.
  • New Takeover Act Enacted

    Background
  • New Public Procurement Act

    On 1 January 2008 the new Public Procurement Act came into force. The Act was modeled on a number of EU regulations concerning public procurement, most notably directive on coordination of procedures for award of public works, public supply and public service contracts, directive on procurement procedures of entities operating in the water, energy, transport and telecommunications sectors, as well as directive on review procedures to the award of public supply and public works contracts.
  • Resignation of a Member of the Management Board

    In a recently published decision, the Croatian High Commercial Court held that in corporations having two-tier corporate structure, the Supervisory board (as a body resolving on appointment and revocation of members of the Management Board) is not authorised or required to resolve on resignation of the Management Board's member. The court was on the standpoint that the resignation has legal effects as of the moment of its delivery to the Supervisory board. As a result, once the Supervisory board receives a resignation of a member of Management Board, it is not to discuss such resignation, but only undertake necessary steps to appoint new member of the Management Board and register the changes with the competent registry court.
  • Constitutional Court Rules on Squeeze Out

    According to recent press release, in February 2007 the Croatian Constitutional Court overruled the claim filed by minority shareholders of Siemens affiliate in Croatia. The minority shareholders requested the Constitutional Court to declare that rules on squeeze-out introduced into Croatian legal system under the 2003 Amendments to Companies Act are in violation of the Croatian Constitution. Under the disputed rules, shareholders' meeting may, at the request of the majority shareholder holding at least 95% of the shares, decide to transfer to such majority shareholder the shares held by minority shareholders, provided that the squeezed-out shareholders are paid appropriate compensation.
  • Regulation on Investment Fund Mergers

    Based on the authority granted under the 2005 Investment Funds Act, on 14 December 2006, the Croatian Agency for Supervision of Financial Services ("Agency") adopted the Regulation on Open Investment Fund Merger. The Regulation sets out a number of rules related to procedure, conditions and methods for merger of open investment funds in Croatia. The Regulation will come into effect on 30 December 2006.

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