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

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Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing and 70 more

Jelena Nushol

Work +38514825600

Work Department

Banking and Finance




Jelena Nushol became a member of the team in 2006. She primarily advises clients on banking and finance matters, but also works on M&A transactions.

Jelena works on financing, restructurings and various compliance matters specific for banking and financial market and has recently worked on the largest non-performing loan transactions in Croatia and CEE region. Her daily work includes supporting financing projects and M&A transactions in connection with real estate, tourism and hotel industry, shopping centers and infrastructure projects, industry investments, renewable energy projects, etc.

Many years of work for international and Croatian clients (primarily banks, funds and financial institutions), as well as experience in different types of projects has resulted in Jelena’s excellent understanding of client’s business and ability to respond to their specific needs.


English, Croatian


Croatian Bar Association


Mag. iur. Faculty of Law in Zagreb


Banking, finance and capital markets

Within: Banking, finance and capital markets

Able to leverage the firm's extensive international network, particularly throughout Central and Eastern Europe (CEE), and also generating a significant amount of standalone work, Bardek, Lisac, Mušec, Skoko in association with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Austria) has a strong reputation among domestic and international banks, including EBRD, Zagrebačka banka and Credit Suisse. As well as her work for a club of lenders (including JP Morgan and BNP Paribas) as creditors on the Agrokor restructuring, 'pragmatic and solution-oriented' team head Jelena Nushol has been particularly active for lenders and borrowers on shopping mall financings/refinancings. Associate Ana Erceg is also recommended.

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Real estate and construction

Within: Real estate and construction

Although it is active across the full range of real estate and construction matters, Bardek, Lisac, Mušec, Skoko in association with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Austria) has been particularly busy of late advising banks on the financing of domestic shopping centre projects. Led on the financing side by Jelena Nushol, and on the real estate front by the 'dedicated and proactiveAna-Marija Skoko, the team recently advised the European Bank for Reconstruction and Development on a secured loan to enable the financing of refurbishment and operational improvements to a shopping centre in Croatia. Other highlights include the team's work for Commerzbank on the sale process of a first-generation shopping centre in Zagreb.

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Legal Developments by:

  • Access to justice: protective costs orders in planning challenges

    Third parties and competing developers have no rights of appeal to the Secretary of State against planning decisions. Disappointed applicants can appeal to the Secretary of State and can have the merits of the application reconsidered. The only remedy available to a disappointed third party is a challenge by way of judicial review in the High Court on a point of law. The sense of frustration and disempowerment this creates has not been helped by the increasing complexity of the planning process and the use of consultation to legitimise decisions that many perceive may already have been taken.
    - CMS Group

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

  • 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.