Banking, finance and capital markets in Croatia

Šavoric & Partners

Co-headed by Mia Lazić and Boris ŠavorićŠavoric & Partners maintains its position in the market as a 'high-quality' proposition for banks, funds and corporates across an array of domestic and multi-jurisdictional financings. The scope of the work is broad and extends throughout the capital structure, including advice on mezzanine financings, both in the context of new money transactions as well as refinancing and restructurings. Lazić takes the lead on the majority of the work handled by the team, a reflection of her flourishing reputation, not only in transactional work but also across regulatory and NPL- related matters.

Practice head(s):

Mia Lazić; Boris Šavorić

Other key lawyers:

Ivan Ivković


‘The team provides high-quality advice.’

Key clients

ING Bank

Unicredit Bank

Centrice Zagreb (formerly part of Lone Star Real Estate Group in Croatia)

Enterprise Investors via Studenac (Istarski Supermarketi)

Powszechna Kasa Oszczędności Bank Polski S.A., Bank Handlowy w Warszawie S.A., Bank Zachodni WBK S.A. and ING Bank Śląski S.A.

Mid Europa Partners

Lone Star Real Estate Fund

Work highlights

  • Advised ING Bank in relation to an amendment and restatement of a revolving credit facility provided to MET Group.
  • Acted for Unicredit Bank, as agent and other banks within the syndicate (Bayerische Landesbank, BNP Paribas S.A., Commerzbank Aktiengesellschaft) in connection with multi-jurisdictional financing of FLIXMOBILITY GmbH and its subsidiaries, including a Croatian subsidiary.
  • Acted for Centrice Zagreb (formerly part of Lone Star Real Estate Group in Croatia), after it was acquired by the new shareholder, Magnus Kapital, a Slovenian company, in relation to obtaining financing from Sberbank Slovenia and Sberbank Croatia for the purpose of refinancing its current debt.

Žuric i Partneri

'One of the best and most professional law firms in Croatia', Žurić i Partneri is 'able to resolve the most complicated issues' and is consequently regularly at the forefront of the most significant finance mandates in the country, including its recent work for the state-owned company operating the Croatian motorways on a new €400m syndicated loan (for refinancing purposes). In addition to financing work - which includes the provision of loans for the purposes of M&A and projects - the firm has also established a strong track record for bank M&A. Mihovil Granić and Duško Žurić  are 'responsible and highly capable partners' and are key members of the team that also includes Edin Karakaš, who as well as advising on transactional matters, is also noted for his derivatives-related regulatory expertise.

Practice head(s):

Duško Žuric; Edin Karakas; Mihovil Granić

Other key lawyers:

Andrej Skljarov; Franciska Ranđelović


Žurić and Partneri Law firm is one of the best and most professional law firms in Croatia.’

The firm is able to resolve the most complicated issues.’ 

Mihovil Granić and Dusko Žurić are responsible and highly capable partners.’

Key clients

OTP banka

Hrvatske autoceste

Work highlights

  • Advised the state-owned company operating Croatian motorways in relation to new syndicated loan of €400m granted for refinancing purposes.

Divjak Topic Bahtijarevic & Krka

Divjak Topic Bahtijarevic & Krka 'understands the structure of complex transactions and is capable of providing high-quality advice' to international and regional banks, as well as many multinational corporates, across a diverse range of financings. Team head Damir Topić excels in advising international banks on cross-border acquisition and project finance deals, as well as in a refinancing context. Promoted to the partnership in January 2020, Martina Kalamiza handles a considerable volume of debt and equity capital markets-related work. Ana-Marija Grubišić Čabraja, who was recently promoted to the partnership, is well-versed at handling new money and refinancing mandates, and has also developed a strong reputation in relation to non-performing loan (NPL) transactions.

Practice head(s):

Damir Topić

Other key lawyers:

Martina Kalamiza; Ana-Marija Grubišić Čabraja; Lea Mužić; Dina Salapić


‘The firm is a well known player on the Croatian market. It understands the structure of complex transactions and is capable of providing high-quality advice.’

‘The firm’s competitive advantage is its diligence and familiarity with the market and current, as well as historical legislation.’

‘The team is generally very approachable – even at a higher (partner) level. They have made an effort at maintaining good client relationship with us and stay familiar with our activities.’

Key clients

AKUO Energy

J.P. Morgan

Bank Pozitif

Deutsche Bank AG & EOS Holding GmbH

Societe Generale



J&T Bank

​KGAL Investment Management GmbH & Co. KG

EOS Matrix

Work highlights

  • Advised Akuo Energy on the refinancing provided by Erste Bank AG and Erste Croatia to its Croatian subsidiary for the construction of renewable energy plants (the firm had previously provided advice in the original financing arrangement).
  • Advised ING Bank on the amendment to the credit facility granted to Aminolabs Group, a company specialised in the development of sports nutrition, dietary nutrition and health nutrition.
  • Advised European Bank for Reconstruction and Development on the refinancing of a loan granted to Poreč municipality.

Law Firm Glinska & Miškovic Ltd

'Very knowledgeable about business in Croatia but also well-versed in how international companies operate'Law Firm Glinska & Miškovic Ltd has developed a particularly strong reputation advising lenders and borrowers on cross-border mandates with a Croatian nexus. As well as the firm's regular involvement for corporates and international banks on syndicated and club bank debt financings, under the guidance of the 'outstandingAleksej Mišković, the team has also cultivated a market-leading capital markets offering, both on regulatory and transactional matters, including advice to Croatian issuers on Eurobond issuances.

Practice head(s):

Aleksej Mišković

Other key lawyers:

Tena Jurišić; Katarina Šarić


‘Our experience of Glinska & Miskovic is very positive – they are very knowledgeable about business in Croatia but also well versed in how international companies operate. Particular strengths are explaining Croatian business practices and operations and being willing to take on the work required to achieve the required objectives, not leaving this to the customer to figure out and muddle through.’ 

‘The law-firm employees are always available when needed and willing to assist in relevant matters.’

‘The individuals I work with are competent, reliable and hardworking.’

‘Aleksej Miskovic has an outstanding ability to make business practice in Croatia clearly understandable, and to relate this to international business practices, of which he has considerable knowledge. His command of English (and colloquial English!) is very high and he is always available when needed.’

Key clients

European Bank for Reconstruction and Development

Dechra Pharmaceuticals Plc

Tower Property Fund Limited

Rixecker Investment KG

Inspire Investments d.o.o.

Banca IMI S.p.A.


Erste Group Bank AG

Uni Credit S.p.A.

The Boston Consulting Group


Work highlights

  • Advised Dechra Pharmaceuticals Plc on the Croatian law issues connected with its US private placement.
  • Advising Inspire Investments on all the financial regulatory matters relating to their management of the Inspirio FGS fund, work which included providing relevant reports and other information to the Croatian Financial Supervisory Agency.
  • Advising Banca IMI on a comprehensive overview of the Croatian laws regulating the distribution of bonds and structured products in Croatia, in light of the Prospectus Regulation and corresponding amendments to the Croatian national regulations.

Madirazza & Partners

The 'knowledgeable, experienced and thorough' three-partner team at Madirazza & Partners advises local/international banks and corporates providing or raising finance through bank loans (both bilateral and syndicated) and the capital markets. Managing partner Josip Madirazza is a key member of the team and has developed particular expertise handling energy-related project financings. He was, alongside Tin Težak, also pivotal to the firm's high-profile representation of numerous creditors, including VTB Bank, on Agrokor's insolvency process. Other recommended partners include Morana Herak and Tatjana Radmilović, who are both noted for their capital markets expertise.

Practice head(s):

Josip Madirazza; Tin Težak; Morana Herak

Other key lawyers:

Tatjana Radmilović; Marinka Kovačić


‘The team is knowledgeable, experienced, reliable and thorough.’

Key clients

VTB Bank (Europe) SE

Deutsche Bank Luxembourg

MET Croatia Energy Trade

Steinhoff group’s main creditors


Work highlights

  • Advising VTB Bank, as a significant creditor of Agrokor, including in relation to litigation to determine challenged claims, participating in the negotiations and drafting of the Settlement Plan.
  • Advised Steinhoff Group’s main creditors on the Croatian law aspects of the implementation of the financial restructuring of the group’s subsidiary Conforama, through a €316m two-tranche bond issue.
  • Continuing to advise MET Croatia Energy Trade on financing matters.

Mamic Peric Reberski Rimac Law Firm LLC

The 'versatile and knowledgeable' team at Mamić Perić Reberski Rimac Law Firm LLC provides a 'very professional' service to banks and borrowers across a wide range of financing mandates, from relatively commoditised refinancings through to complex structured transactions. 'Very professional and responsive' team head Luka Rimac has an 'in-depth knowledge of capital markets' and regularly advises issuers on equity and debt capital raisings on the Zagreb Stock Exchange. In addition, he also counsels the stock exchange itself on operational and regulatory matters, including in relation to projects launched through the Funderbeam platform, an innovative crowdfunding platform based on bitcoin technology. Frano Belohradsky is also recommended for cross-border financing work.

Practice head(s):

Luka Rimac; Frano Belohradsky

Other key lawyers:

Vladimir Mamić


‘The team is versatile and knowledgeable.’

‘Very professional, structured, in-depth knowledge of capital markets.’

‘Luka Rimac is very responsive and professional.’

Key clients

Zagreb Stock Exchange, Inc. (Zagrebačka burza d.d.)

European Bank for Reconstruction and Development

ZAGREB CITY HOLDING Ltd. (Zagrebački Holding d.o.o.)

Nova Kreditna Banka Maribor d.d. and NOVA KBM GROUP members

SKDD-CCP Smart Clear d.d.

PRIVREDNA BANKA ZAGREB P.L.C. (Croatian subsidiary of Intesa San Paolo)

OTP banka d.d.


M+ Group

Addiko Bank Plc.

ORBICO d.o.o.


HETA Asset Resolution Hrvatska d.o.o.

Work highlights

  • Advising ORBICO d.o.o. ( the largest distributor in Croatia) on the refinancing of its debt portfolio, as well as on a new financing.
  • Advising the THE GARDEN BREWERY, as the issuer in an IPO and the listing of its shares on the regulated market operated by Zagreb Stock Exchange.
  • Advising HETA Asset Resolution Hrvatska on a settlement with Dalekovod d.d., and on the sale of the galvanizing plant to NFS Cink, a member of the Czech Signum Group.

Porobija & Porobija

One of the longest-established and most esteemed firms in Croatia, Porobija & Porobija has a strong track record for handling complex, high-value bilateral and syndicated transactions for regional and international banks, including in a project financing context. As well as advice in relation to commercial bank loan financings, the team, which is co-headed by Boris Porobija and Zeljka Rostas Blazekovic, also has competency in the capital markets arena; including its work for the joint lead manager banks on the Croatian Republic's recent €1.5bn eurobond issuance.

Practice head(s):

Boris Porobija; Željka Rostaš Blažeković

Key clients


Zagrebačka banka

Banca IMI

International Zagreb Airport and shareholders

Danske Bank


Work highlights

  • Advised the borrower on refinancing of existing debt of the concessionaire of International Zagreb Airport.
  • Advising the lenders on refinancing of existing debt and financing of Phase 2B2-1 of Istrian Epsilon Motorway (Doubling of Tunnel Učka).
  • Advising the joint lead manager banks in an international bond issue by the Republic of Croatia.

Babic & Partners Law Firm

Babic & Partners Law Firm is well regarded in the market for its advice to international corporates and funds on their debt and equity finance activity. Iva Basaric heads the team alongside Boris Babic, and as well as her finance expertise, she is also noted for her advice to corporates on the establishment of employee equity incentive plans.

Practice head(s):

Iva Basaric; Boris Babic

Key clients

TRG Management

Work highlights

  • The team advised The Rohatyn Group on a secured senior loan facility to facilitate its acquisition of majority shareholding in the leading regional contract research organization headquartered in Croatia.

Bardek, Lisac, Mušec, Skoko in association with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Austria)

Often leveraging the expertise of lawyers spread across the firm's extensive international network, particularly in the Central and Eastern Europe (CEE) region, and also generating a significant amount of standalone work, Bardek, Lisac, Mušec, Skoko in association with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Austria) is well-positioned to handle a wide array of financing mandates for commercial and development banks, in a domestic and cross-border setting. As well as her financing and restructuring expertise, team head Jelena Nushol has also developed a strong reputation acting for banks as sellers of NPL portfolios.

Practice head(s):

Jelena Nushol

Other key lawyers:

Ivan Ivandić

Key clients

SUSI Partners

Erste & Steiermaerkische Bank

Goldman Sachs

Erste Group Bank AG

Norddeutsche Landesbank – Girozentrale

UniCredit Bank Austria

Credit Suisse AG, London Branch

European Investment Bank

B2 Holding ASA


SIX Payment Services (Europe) SA

Zagrebacka banka d.d., Croatian arm of UniCredit Group

BMW Austria Bank GmbH

Raiffeisenlandesbank Oberoessterreich AG

Privredna Banka Zagreb, Croatian arm of Intesa Sanpaolo group

Citibank Europe

Sparkasse Feldkirchen/Kärnten

UniCredit Bank

UniCredit Leasing Croatia d.o.o

Work highlights

  • Advising SUSI Partners on a bond placement-based sustainable finance project.
  • Assisting Zagrebačka banka, the Croatian arm of UniCredit Group, on the sale of a €186m NPL portfolio.
  • Advising the European Investment Bank on the provision of a €30m loan to Croatia’s Rimac Automobili for investment in the research and development of electric vehicles and related components.

Batarelo Dvojkovic Vuchetich Law Firm LLP

Since the firm's establishment in 2017, the 'knowledgeable, smart and hardworking' banking team at Batarelo Dvojkovic Vuchetich Law Firm LLP has rapidly gained a significant foothold in the market as a result of its propensity to provide 'solutions-oriented' advice to an impressive and growing roster of commercial and development banks and corporate borrowers. The scope of the financing work is broad and includes advice on syndicated loan agreements, export finance mandates and restructuring matters. 'Knowledgeable and analytical' team head Vladimir Batarelo is also noted for his tax expertise.

Practice head(s):

Vladimir Batarelo

Other key lawyers:

Laurenz Vuchetich; Marko Bohaček


‘The firm is very knowledgeable, smart, hardworking, diligent and solutions-oriented.’

‘All three founding partners: Ivan Dvojkovic, Vladimir Batarelo and Laurent Vuchetich are very knowledgeable, smart, efficient, analytical, dedicated, hardworking, proactive and very pleasant to work with.’

Key clients

Prevent Group

European Coastal Airlines d.o.o.

Industrieliegschaftenverwaltung AG and Kaltenberg Bayern

Franck d.d

Ferrero d.o.o.

Adria Capital Partners LLC

Clarum d.o.o. (Hans Henglein & Sohn GmbH)

Provectus Capital d.o.o.


Studenac d.o.o.

NLB Bank AD Skopje

Nova Liburnija d.o.o


European SeaPlane Service GmbH

Otago Beteiliungs GmbH

Adma Fӧrvaltnings AB

M San Grupa d.d.

TPF International Ltd.

Provectus Capital

Croatian Hydrocarbon Agency

Invest Sedlić d.o.o.

Immobiliare Jurić d.o.o.



Croatian Bank for Research and Development

Četiri lista Ltd.

Work highlights

  • Advised Zagrebačka banka, as part of a banking syndicate, on a €20m refinancing of the largest Croatian IT company.
  • Advising the Croatian Bank for Reconstruction and Development on three export financing deals, including on behalf of a major telecoms equipment producer entering the Belarus market. This was significant because it included structuring a financing model that would work from both Croatian and Belarus regulatory perspective and a cross- border co-operation with Belarus advisors.  
  • Advising Nutris on a €16m facility agreement to facilitate the financing of the construction of a new food processing factory.

Bogdanovic, Dolicki & Partners

Benefiting from a strong standing in the local market and also well placed to advise on cross-border mandates by virtue of its "best friends" relationship with Hogan Lovells International LLPBogdanovic, Dolicki & Partners handles a significant volume and range of new money and restructuring mandates. Tin Dolicki recently attained significant acclaim for his work on behalf of Agrokor on its high-profile and complex financial restructuring process.

Practice head(s):

Tin Dolicki


The 'responsive and business-oriented' team at KOVACEVIC PRPIC SIMEUNOVIC LLC continues to thrive in the market as a result of its 'enthusiastic and proactive' approach, which has enabled it to continually grow its client base since it was established in 2014 and now includes a compelling mix of commercial banks, development banks, trade associations, government bodies and corporates. The team's varied workload features regulatory and NPL-related mandates, as well as a number of high-profile new money and refinancing transactions, including Martina Prpić's work for a group of lenders with respect to refinancing of the Zagreb airport concession project. Dinka Kovačević and Danijela Simeunović co-head the team, with the 'knowledgeable, versatile and responsive' Simeunović noted in particular for her aviation finance expertise.

Practice head(s):

Danijela Simeunović; Dinka Kovačević

Other key lawyers:

Martina Prpić


The firm is well-organised, responsive and business-oriented.

‘The team is enthusiastic and proactive.

Danijela Simeunović is knowledgeable, versatile and responsive. 

Key clients

Croatian Bank for Reconstruction and Development, OTP banka d.d., PRIVREDNA BANKA ZAGREB – DIONIČKO DRUŠTVO, Zagrebačka banka d.d.

Ministry of Finance, Republic of Croatia

World Star Aviation

HPB – stambena štedionica d.d.

Hrvatska poštanska banka d.d. (HPB d.d.)

Gorenjska banka d.d.

Insight Investment (Global) Limited


AIK Banka AD

KentBank d.d.

Economic Interest Group Croatian Banking Association (EIG CBA)


Ferratum Bank p.l.c.


Falko Regional Aircraft Limited Various financing parties

Sberbank d.d.

Raiffeisenbank Austria d.d.

Kreditanstalt für Wideraufbau (KfW)

Work highlights

  • Advised a syndicate of major Croatian banks on a  €72m financing for the construction of a Zagreb-Sljeme cable car with car park.
  • Advised a group of lenders with respect to refinancing of the Zagreb airport concession project operated by MEDUNARODNA ZRAČNA LUKA ZAGREB, as the concessionaire.
  • Acted as Croatian counsel to an aircraft lessor relating to one Airbus A319-112 aircraft delivered and let to the Croatian national air carrier Croatia Airlines.

Macesic & Partners LLC

The 'experienced and knowledgeable' two-partner team at Macesic & Partners LLC has significant traction among local banks, including Raiffeisenbank and Addiko Bank, and is regularly instructed on their new money financings, restructuring-related matters, and regulatory concerns. As well as the firm's traditional maritime strength, which leads to a considerable amount of shipping and shipbuilding finance mandates, the team is also increasingly active advising borrowers on financings within the technology sector. 'Approachable and solutions-oriented' Rijeka-based team head Ivana Manovelo is recommended.

Practice head(s):

Ivana Manovelo


‘Macesic and Partners are experienced professionals. The lawyers are very knowledgeable and you feel you are in competent hands.’

‘Ivana Manovelo is pleasant to work with and very attentive to details.’

‘Ivana Manovelo is an excellent lawyer, with great knowledge and is very approachable and solutions-oriented.’

Key clients

Erste & Steiermärkische bank

Addiko Bank

Raiffeisen Bank

Zagrebačka banka

Western Union

Credit Suisse

Bellabeat Inc.

Stemi d.o.o

Wellard Group

Nexans Group

Siem Group

Orehovec, Vinter, Kiš, Šimunovic

The 'responsive and capable' team at Orehovec, Vinter, Kiš, Šimunović has 'a lot of experience and know-how on the local market' and provides a 'very professional and co-operative service' to banks and corporates across  a range of new money and refinancing mandates. Team head Martina Šimunović Lepoša is an 'expert on the legal regulations related to banking and financial operations' and is well-versed across a range of different strategies, including debt-for-equity swaps, to assist creditors maximise their returns in corporate restructuring matters.

Practice head(s):

Martina Šimunović Lepoša

Other key lawyers:

Tomislav Orehovec; Irena Vinter Gregorić


‘The dynamic team understands the business and finance aspects, as well as the purely legal ones.’

‘The team is well-organised, efficient, friendly and prompt.’

‘Excellent team of experts, which has a lot of experience and know-how on the local market. Very professional and co-operative. ’

‘The team is responsive, well prepared and capable of handling complex legal issues in a very limited time.’

‘There is strong cohesion in the team and very good delegation practice. Therefore, members of the team complement each other very well and provide a high-quality service. Furthermore, large number of team members have a broad knowledge and are very experienced, so the team as a whole can provide service at the highest level.’

‘Tomislav Orehovec is direct, honest, fast and precise in his advice. He never promises what he cannot deliver.’

‘Due to his extensive experience and knowledge, Tomislav Orehovec is the best choice for all legal issues in complex M&A transactions, as well as in restructuring and bankruptcy issues.’

Key clients

INA Group (INA- industrija nafte d.d., INA maziva d.o.o., INA maloprodajni servisi d.o.o., STSI d.o.o., Crosco d.o.o. etc.)

Zagrebački holding d.o.o.

Vodoopskrba i odvodnja d.o.o.

JANAF d.d.

NLB InterFinanz AG

Grand auto d.o.o.

Hyundai Croatia d.o.o.

Lola RIBAR d.d.

PRO Kolekt d.o.o.

Granarium d.o.o.

Optima leasing d.o.o.

Work highlights

  • Representing Switzerland-based financial services company, NLB InterFinanz, in a dozen debt collection, insolvency and enforcement proceedings against its debtors, including complex disputes related to the Act on Nullity of the Loan Agreements with international elements.
  • Advising Vodoopskrba i odvodnja d.o.o., Croatia’s leading water supply and sewage company, on the performance of an existing EBRD loan.
  • Advised Granarium d.o.o. on the financing from HPB d.d. to facilitate the purchase of a 100% stake in GD-Grana d.o.o., a real estate company with a greenhouse and office building in its ownership.

Schoenherr in cooperation with Croatian lawyers

Effectively able to leverage the resources and knowledgebase established across the firm's CEE offices, Schoenherr in cooperation with Croatian lawyers is a popular choice among international and regional banks and borrowers, in part due to its 'ability to understand local circumstances and combine it with the demands and expectations of foreign clients'. Team head Ozren Kobsa has a strong reputation across a range of regulatory and transactional matters, and recently advised a regional bank on a regulatory driven capital raising via the bond markets.

Practice head(s):

Ozren Kobsa

Other key lawyers:

Ivan Einwalter


‘The lawyers are able to understand local needs and circumstances, and combine it with with the demands of foreign clients.’

‘The team exhibits reliability, professionalism and positive relationships based on a mutual understanding that extends beyond our regular business driven contacts.’

‘The firm has broad knowledge of different legislation.’

‘Individuals are open, constructive and available.’

Key clients

Deutsche Bank

UniCredit Group

Raiffeisenbank Group

Sberbank of Russia


EOS Group



Volkswagen AG

Monier Group

Intesa Group

LynxCap Group AG

Privredna Banka Zagreb d.d.

Work highlights

  • Advising Zagrebačka banka and UniCredit on all legal aspects, under Croatian and Austrian law, on several transactions related to the sales of their NPL exposures in Croatia.
  • Advised Raiffeisenbank Austria in raising new capital via a bond issuance for capital adequacy requirements under EU regulatory frameworks.
  • Advising Sberbank and its local subsidiaries in a multi-faceted mandate regarding its over €1bn exposure to the Croatian food and retail giant Agrokor and its subsidiaries and affiliates.

Wolf Theiss - Zagreb branch

Acting independently, as well as often in conjunction with lawyers from across the firm's CEE network of offices, the 'approachable and constructive' team at Wolf Theiss - Zagreb branch is well-versed at advising local and international banks on syndicated and bilateral financings to facilitate domestic and regional infrastructure and real estate projects. Led by Vedrana Ivekovic, the team also has a strong financial services regulatory offering, which it deploys to good effect in relation to financial services M&A and fintech-related matters.

Practice head(s):

Vedrana Iveković

Other key lawyers:

Luka Tadić-Čolić; Lucia Močibob


‘Individuals are approachable, open and constructive.’

Key clients

Addiko Bank

Bank of America Merrill Lynch

BNP Paribas

B2 Holding ASA

B2 Kapital

Citigroup Global Markets Limited

Croatian Central Depository and Clearing Company (SKDD)

DDM Group

Erste Group Bank



Hemisphere International Properties

J.P. Morgan Securities

Morgan Stanley & Co. International

Nova Ljubljanska banka d.d.

Privredna banka Zagreb

Raiffeisen Austria

Société Générale Group

The Bank of New York Mellon Corporation

UBS Limited

Volvo Financial Services

VTB Bank

Zagrebačka banka

3S Investment Limited

Work highlights

  • Advising various local banks regarding the club loan of €120m to Orbico, a large Croatian retail company
  • Advising VTB Bank in connection with the ship construction finance for a polar cruise ship, to be secured by the State Guarantee and export insurance policy issued by the Croatian Bank for Reconstruction and Development.
  • Advising the Croatian Central Depository and Clearing Company (SKDD) on all legal and regulatory aspects required for SKDD’s alignment with the European standards for corporate action processing.

Cipcic-Bragadin Mesic & Associates

Benefiting from an 'in-depth knowledge of the market', Čipčić-Bragadin Mesić & Associates 'is always in a position to provide prompt and practical advice', particularly on regulatory matters, for international banks, asset managers and investment companies doing business in Croatia. Team head Silvije Cipcic-Bragadin's 'knowledge about the market and upcoming legislative changes are highly regarded'.

Practice head(s):

Silvije Cipcic-Bragadin


‘The firm has an in-depth knowledge of the market and is always in a position to provide prompt and practical advice.’

‘Silvije Cipcic-Bragadin is always available and ready to provide the best possible and practical solution to the clients. His knowledge about the market and upcoming legislative changes are highly regarded.’

Key clients

Unicredit Bank Munchen

Barclays Bank

JP Morgan

NatWest Markets

Goldman Sachs

Deutsche Bank



Work highlights

  • Advised Deutsche Bank on guidance for conducting its business in Croatia with specific references to corporate investment banking and legal/compliance matters.
  • Advised Barclays Bank in relation to a pan-European financing of a transaction.
  • Advised NatWest Markets on regulatory aspects of distribution of structured products in Croatian market.

Law Office Žarkovic

Although it is less visible on the lender side than many of its higher-ranked peer firms, Law Office Žarkovic has been engaged in some sizeable new money and refinancing mandates for corporate borrowers across a range of industry sectors. In addition, the team, which is led by Branimir Žarkovic, has advised a number of investment firms on financial services regulatory matters, including advice on EU passporting issues.

Practice head(s):

Branimir Žarković

Other key lawyers:

Marko Milošević; Matea Mimica Žarković; Anja Cigelj

Key clients

Blaha Family Office

Amon Ra LLC

OHM Management Group

Begin Capital Markets

Alkyon Partners

Skinest Finland Oy

Daper S.r.o.

Trade Online

Liburnia Riviera Hoteli d.d.

Holster Privatstiftung

Work highlights

  • Advised Liburnia Riviera Hoteli, the fifth largest hotel chain in Croatia, on various matters, including stock exchange regulatory issues and AML compliance.
  • Advising Cypriot registered investment firm, BEGIN Capital Markets, on the passporting process of services from the client to the Croatian market and engagement of the tied agent for the local market.
  • Advising Croatia-based investment firm, Trade Online, (primarily involved in forex trades) on compliance issues.

Bradvica Marić Wahl Cesarec

The formal integration of Branko Skerlev into Bradvica Marić Wahl Cesarec (having previously co-operated with it as managing partner of his own firm) has bolstered the firm's banking and capital markets offering, primarily within the alternative funds space. Skerlev's work in this area includes assisting with the establishment of hedge and private equity funds, in addition to advice on any regulatory matters they may face.

Practice head(s):

Branko Skerlev

Other key lawyers:

Zvonimir Buzatović; Davor Krsnik

Key clients

Maverick Partners

Maverick Wealth Management Ltd

Quaestus Private Equity Ltd

Zagrebačka banka

Work highlights

  • Advised Maverick Partners Ltd in the process of the incorporation on the new AIFM company- Maverick Wealth Management Ltd.
  • Advised Zagrebačka Banka in respect to a partnership agreement which has been concluded with one of the biggest telecom companies in Croatia (Hrvatski Telekom d.d., part of Deutsche Telekom Group).
  • Providing day-to-day regulatory legal services and assistance to the fund management company Quaestus  Private Equity Ltd.  

Gugic, Kovacic & Krivic law firm

Benefiting from an 'excellent combination of commercial and legal acumen', Gugic, Kovacic & Krivic law firm is best-known for its ability to provide 'solutions-oriented' advice to investors on NPL-related matters. In this regard, clients appreciate the firm's enforcement and bankruptcy expertise, and its ability to 'think-outside-the-box to ensure that the recovery value is optimised'. The team is co-headed by Lovro Kovačić and the 'experienced and creativeDamjan Krivić, who is noted by one client, as 'probably the best NPL lawyer in the region'.

Practice head(s):

Damjan Krivić; Lovro Kovačić


‘The team provides an excellent combination of commercial and legal acumen, as well as a solutions-oriented approach.’

‘As an NPL investor and servicer, we value the unique knowledge the team has in enforcement and bankruptcy law, as well as its ability to think-outside-the-box to ensure that the recovery value is optimised.’

‘Regarding banking they are legal representatives and legal advisors for some of the foremost banks in the Croatian market and for some of the most significant participants in the Croatian financial sector.’

‘The experienced and creative Damjan Krivic is probably the best NPL lawyer in the region.’

‘Damjan Krivic is a very knowledgeable lawyer across the board and can handle local negotiations with banks, borrowers, lenders etc. on your behalf.’

Key clients

DDM Group AG



Jadranski Trg


Hrvatski ured za osiguranje (Croatian Insurance Bureau)

Erste Group Bank

Erste & Steiermärkische S-Leasing

AxFina Austria

Lynxcapgroup AG

Work highlights

  • Advising DDM Group on its NPL-related work.
  • Advising Lynxcapgroup AG on NPL-related matters.
  • Advising Croatian insurance company, TRIGLAV OSIGURANJE, on litigation, advisory and regulatory work.

Hanzekovic & Partners

Hanzekovic & Partners is a market-leader for debt enforcement work and is able to provide a cost-effective service to clients by virtue of having extensive resources and streamlined systems in place. Led by the 'very experienced and solutions-oriented' Irina Jelčić and Andrea Domac Ričković, the team also regularly handles NPL work and financial services-related litigation; including its ongoing involvement for one of the defendant banks in the high-profile Swiss-franc conversion dispute.

Practice head(s):

Irina Jelčić; Andrea Domac Ričković

Other key lawyers:

Andrej Bošnjak; Josipa Mrklić


The team members are very knowledgeable, always available and respond promptly to any queries.’

They are resourceful problem-solvers.’

‘The team leader is very experienced and quickly provide solutions to any problem.’

The very experienced and solutions-oriented Irina Jelčić has longstanding experience in both financial and commercial law.’

Key clients

Zagrebačka banka d.d.

Erste&Steiermärkische Bank d.d.

OTP banka d.d.


Erste Card Club d.o.o.


Allianz Hrvatska d.d.

Ajinomoto Europe SAS

Work highlights

  • Continuing to represent ERSTE & STEIERMÄRKISCHE BANK, as one of the defendant Croatian banks, in the high-profile litigation brought by consumers concerning the validity of Swiss-franc denominated loans following significant increases in the exchange rates between Swiss francs and Croatian kuna.
  • Advised H-Abduco LLC, as a special purpose vehicle (SPV) of the HETA Group, to assist on the process of the monetisation of a portfolio of claims by the SPV as the assignor of the claims.
  • Advised Ajinomoto Europe SAS in its €3.5m claim against Italian company, Cerere. The matter was complicated by the fact that the debtor had no assets upon which to claim, apart in the context of its position as one of the many creditors to Agrokor.

Ilej & Partners, in cooperation with Karanovic & Partners

Led by Goran Ilej Ilej & Partners, in cooperation with Karanovic & Partners has a solid offering for both lenders and borrowers across a range of bank finance and capital markets-related work, and regularly works alongside large international law firms in its role as local counsel on international mandates requiring Croatia law input. Although it is sector agnostic, the firm has been particularly active advising on financing in the gaming sector.

Krehic & Partners Law Firm in cooperation with Deloitte Legal

Aided by its co-operation with the Deloitte network, the 'very responsive and approachable' team at Krehic & Partners Law Firm in cooperation with Deloitte Legal has expertise across the spectrum of bank debt, capital markets and structured finance mandates, as well as on NPL portfolio-related work. The arrival of Ivan Zornada  from Wolf Theiss - Zagreb branch, in February 2020, enhances the firm's finance credentials, in light of his 'responsiveness and ability to clarify details of Croatian law in a very efficient way'. The 'business and solutions-oriented' Tarja Krehic heads the team.

Practice head(s):

Tarja Krehic

Other key lawyers:

Ivan Zornada


The firm is very responsive, approachable and engaged.

Tarja Krehic is highly professional, business and solutions-oriented.’

‘Ivan Zornada is very responsive and has the ability to clarify details of Croatian law in a very efficient way.’

Key clients

ABANKA Slovenia

Inter Cars Croatia and Poland


B2 Kapital d.o.o.


PBZ Group

Austrian Anadi Bank

Australian investor, a natural person

EximBank Slovakia


Work highlights

  • The firm advised B2 Kapital on the sale of a €100m NPL portfolio.
  • Assisted with the collateralization of a Polish leasing company’s entire Croatian fleet.
  • Advised financial intermediary, EOS MATRIX, in the first-of-its-kind cross-border receivables securitisation.

Law Firm Andelovic, Siketic & Tomic

Founded in May 2020, following the departure of several practitioners from Law Firm Glinska & Miškovic Ltd, Law Firm Anđelović, Siketić & Tomić has hit the ground running and is lauded for its ability to provide 'complex financing structures, focusing on the outcome and delivering above expectations'. The 'very hardworking and exceptionally intelligentPetra Siketić heads the team and is praised by clients for her 'detailed and profound, yet relaxed and friendly' approach to handling a range of financing and refinancing work.

Practice head(s):

Petra Siketić


The attentive team is very mindful of the risks and commercial aspects of a deal.’

The practice completely supports the legal needs of its clients, especially on complex financing structures.’

The biggest strength of this team is the profound perspective it has of both the legal industry and business.’

Petra Siketić is a very inspiring attorney-at-law. Her approach to a legal matter is very detailed and profound, yet relaxed and friendly.’

Petra Siketić is a very hardworking, exceptionally intelligent and careful professional. She is always on top of latest practices, but manages to work around any obstacles in a non-contentious way.’

Key clients

UniCredit S.p.A.

Zagrebačka banka d.d.


Work highlights

  • Advising UniCredit and Zagrebačka banka on the financing facilities provided to Croatian company, Punta skala, operating Falkensteiner hotels and apartments on Zadar peninsula.
  • Advised Erste Group Bank on a €11m facility provided to Croatian company POSLOVNI PARK ZAGREB for the construction of a new hall within an existing logistics park.

M&S Partners

Despite being less visible on transactional financing mandates than many of its higher-ranked peer firms, M&S Partners has established a strong reputation in the market on behalf of regional financial services companies (including credit card companies) on debt recovery, litigation and NPL-related matters. Ivana Miloš heads the team.

Practice head(s):

Ivana Miloš

Other key lawyers:

Nikola Berović; Monica Golub

Key clients

PBZ Card Ltd.


PAAFRD (Paying Agency for Agriculture, Fisheries and Rural


Prime Tourist Resorts

Agrochem Maks


Water Supply and Drainage Ltd. (VIO)

Marohnic, Tomek & Gjoic, Law Firm

Co-headed by Tonka Gjoić and Tena TomekMarohnic, Tomek & Gjoic, Law Firm handles a range of financing work for energy, real estate and IT clients. Other areas of expertise include advice on NPL matters and structuring/operational work for investment funds; including Tomek's recent work in relation to the establishment of Croatia's first Social Impact Investment Fund.

Practice head(s):

Tonka Gjoić; Tena Tomek

Key clients

Poslovni park Zagreb (London Regional Properties) and Balkan Properties Limited UK

Feelsgood Capital Partners

Samo ljubav

Projekt Srebrnjak

Rigi Real Estate Austria

LCN Capital Partners

Heritage Boutique Hotel Villa Giardino

Work highlights

  • Advising Feelsgood Capital Partners (General Partners of the fund) on negotiating and drafting the rules of the fund and ongoing matters associated with the establishment and operation of the country’s first Social Impact investment fund.
  • Engaged by a number of investment funds to work both (i) on deal side on investment funds’ investments, and (ii) for the investments funds internal work i.e. funds raising and set-up, internal organization and compliance, regulatory checks and clearances, delegation activities, taking over of other investment fund management companies, management and shareholders licencing, valuation, conflict checks, compliance policies, etc
  • Advised long-term client, Poslovni park Zagreb, in a build-to-suit development of a new fifth hall in the largest Croatian logistics park and on the related financing.

Ostermann & Partners LLP

Benefiting from an 'in-depth knowledge of the Croatian market', Ostermann & Partners LLP provides an 'approachable and dependable' service to lenders and borrowers across a range of financing mandates, including on the funding of corporate and real estate transactions. 'Business-oriented' managing partner Mojmir Ostermann co-heads the finance team alongside the 'knowledgeable and thoroughVjekoslav Ivančić, and recently advised APS Investments on its acquisition of a substantial NPL portfolio from Addiko Bank (work which also included the financing to facilitate the transaction).

Practice head(s):

Mojmir Ostermann; Vjekoslav Ivančić


‘The firm has an in-depth knowledge of the Croatian market and provides an approachable and dependable service.’

‘The firm has a great generalist practice in Croatia with a number of knowledgeable lawyers across various disciplines (banking, corporate and real estate).’

Mojimir Ostermann is business-oriented.’

Vjekoslav Ivančić provides knowledgeable and thorough advice.’

Key clients

APS Investments

Badel 1862




Press Glass S.A.

Work highlights

  • Advised APS Investments on the financing associated with its acquisition of an NPL portfolio from Addiko Bank.
  • Represented PRESS GLASS on the refinancing of a  €200m syndicated loan.

Vidan Law Office

Led by the 'open and client-orientedHrvoje VidanVidan Law Office has 'strong and extensive knowledge in the field of banking, finance and capital markets', enabling it to provide 'responsive and accurate advice' to commercial/development banks, leasing companies and corporates across a broad range of mandates.

Practice head(s):

Hrvoje Vidan

Other key lawyers:

Petra Lustica


‘I appreciate the firm’s direct approach, without unnecessary details. That gives me confidence that they know their trade and that the clients my law firm sends them are in safe hands.’

‘The team at Vidan Law Office has a strong and extensive knowledge in the field of banking, finance and capital markets. They have a very responsive team that provides fast and accurate services while maintaining a positive business atmosphere. They work at the highest level and are as professional and highly regarded as any other law firm that works in the area of banking, finance and capital markets that we have collaborated with. ’

‘Hrvoje Vidan has vast experience with banking and finance matters and is always very open, client-oriented and very nice to work with.’

‘Hrvoje Vidan is an exceptional lawyer.’

‘Hrvoje Vidan is a long-time and respected player on the Croatian market who also works hard to stay in tune with the needs and preferences of international buyers of legal services.’

‘Petra Lustica is very responsive.’