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Divjak, Topic & Bahtijarevic

EUROTOWER, 18TH FLOOR, IVANA LUCICA 2A, 10000 ZAGREB, CROATIA

What we say about the firm's legal practice in Croatia

Banking, finance and capital markets

Within Banking, finance and capital markets , Divjak, Topic & Bahtijarevic is a first tier firm,

Divjak, Topic & Bahtijarevic maintained a steady flow of instructions from international finance houses on some of the high-profile banking transactions of the year; and boosted its relationship with the Zagreb Stock Exchange by providing advice on regulatory issues during the ongoing lull in the capital markets. Saša Divjak advised Spanish Banco Bilbao Vizcaya Argentaria on its €38.4m refinancing for Inhova, and the team assisted Raiffeisen Zentralbank and Banca Intesa Sanpaolo on €51m and €31m loans to Croatian oil giant INA. Two securitizations of loans granted in the real estate and food sectors were also completed, including one with a value of €118m. Clients appreciate the ‘responsiveness and dedication’ of the team.

Corporate and M&A

Within Corporate and M&A, Divjak, Topic & Bahtijarevic is a first tier firm,

Divjak, Topic & Bahtijarevic’s M&A, telecom and competition groups came together to advise Croatian Telekom on its €20m acquisition of leading IT-integration firm Combis, resolving sensitive regulatory and antitrust matters. Experiencing its best year for M&A work yet, Damir Topic’s transactions team also acted as lead counsel to global engineering group ABB on the €15m pan-jurisdiction acquisition of Exor. Sasa Divjak’s group provides regulatory and corporate support to clients such as Amazon, Marks & Spencer and Samsung.

Foreign investment, projects and privatisation

Within Foreign investment, projects and privatisation, Divjak, Topic & Bahtijarevic is a first tier firm,

Divjak, Topic & Bahtijarevic is distinguished by the high percentage of foreign clients on its books. A highlight for Emir Bahtijarevic’s team was advising US investment fund WP Carey in a sale-and-leaseback transaction with a privately owned logistics company. The €65m deal is the largest recent investment in the logistics facilities. Previous projects have included tenders in the gas supply sector and large-scale real estate developments.

Real estate

Within Real estate, Divjak, Topic & Bahtijarevic is a first tier firm,

American investment fund WP Carey instructed Divjak, Topic & Bahtijarevic on the largest investment in logistics facilities in Croatia in recent years, and followed this with further instructions on real estate developments. In common with many firms, Emir Bahtijarevic’s team saw some changes in personnel but continues to advise clients in the retail, tourism and logistics sectors on the intricacies of Croatia’s evolving property law and the financing of development projects.

What we say worldwide

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Croatia

Offices in Zagreb

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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

  • Restitution of Property to non-Croatian Citizens – Possible at Last?

    After 14 years from the adoption of the Croatian Restitution Act, restitution to non- Croatian citizens of their nationalised property has become possible after the issuance of a Croatian Supreme Court ruling. Will the remaining restitution proceedings be finalised at last?
    - Schönherr

  • 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.
    - BABIC & PARTNERS Law Firm

  • Amendments to the Personal Data Protection Act

    On 28 March 2008 Croatian Parliament enacted Amendments to the Personal Data Protection Act ("Amendments").
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm

  • New Takeover Act Enacted

    Background
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm

  • 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.
    - BABIC & PARTNERS Law Firm
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