Živković Samardžić successfully completed the merger Eurobank a.d. Beograd with Direktna Bank a.d. Kragujevac
Wednesday, 15 December 2021
Živković Samardžić, one of Serbia’s leading full-service independent law firms, has successfully completed advising on the merger of Eurobank a.d. Beograd (“Eurobank Serbia”), a Serbian subsidiary of Eurobank S.A. (“Eurobank”), subsidiary of “Eurobank Ergasias Services and Holdings S.A.” (Eurobank Holdings), with Direktna Banka a.d. Kragujevac (“Direktna”), with absorption of Direktna by Eurobank Serbia (the “Transaction”).
The combined bank (“Eurobank Direktna”), in which Eurobank holds 70%, with a strong capital and liquidity position and a market share of 6.5% in customer loans, becomes the seventh largest in Serbia.
As part of the transaction, Eurobank a.d. Beograd will distribute to Eurobank Group via dividend payment and capital return an amount of c. €232m.
The Živković Samardžić team provided legal assistance and advice both involved banks on the Transaction. This deal was led by Partners Branislav Živković, Slobodan Kremenjak, Uroš Đorđević, Igor Živkovski and Sava Pavlović..
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National Day of Giving: Companies, CSOs, Media and Citizens United to “Save Food, Save Humanity”
Friday, 19 November 2021
BELGRADE – On October 9, 2021, the Coalition for Giving and the Serbian Philanthropy Forum marked the fourth National Day of Giving, with support from the United States Agency of International Development (USAID), by recognizing 34 companies, 12 civil society organizations and 12 media outlets that have contributed the most to the “Save Food, Save Humanity” campaign, or supported initiatives within the campaign.
“This year’s theme of advancing food donations and reducing food waste strongly aligns with core American values and traditions that we cherish deeply and put into practice every day,” said Anthony F. Godfrey, U.S. Ambassador to Serbia.
The recognized companies have supported the National Day of Giving and the campaign through generous monetary and/or food donations which will be directed at providing packages of essential food items to Serbia’s most vulnerable citizens. Many of the organizations and companies also supported the campaign by providing media space to promote the messages and help increase public awareness of the ongoing problem of food waste. As part of the awareness raising campaign, members of the media worked with famous chefs and restaurants to prepare lunch packs for the vulnerable, while several companies invited their staff to collect food items to contribute to the initiative. While it is expected within this campaign to collect enough food to satisfy basic needs of thousands of people in the next few months, the ultimate goal is to ensure that, in the future, food donations can become a reliable source of food for those who need it.
“Wise people say that life gives us as much as we are ready to give to others, and that a wealthy person is the one who is ready and willing to help others. These are the principles on which we are building a better, humane and solidary society,” said Darija Kisić Tepavčević, Minister of Labor, Employment, Veteran and Social Policy of the Republic of Serbia.
The campaign will run until mid-November in case other interested companies or organizations wish to join and contribute.
Also, during the event organized in Ilija M. Kolarac Endowment today, five paintings created by students of the Faculty of Applied Arts have been presented. The art pieces will be gifted to the selected companies which gave the exceptional support to the campaign.
While 480,000 people in Serbia live on the edge of absolute poverty, an estimated two million kilograms of food are being wasted daily. Despite the fact that food donations are increasing, and food producers and merchants want to donate surplus food to soup kitchens, food banks and charities, the amount of food donated still makes up only a small portion of the total surplus edible food available in Serbia. An analysis conducted by the Responsible Business Forum and the Coalition for Giving shows that food donations in Serbia could increase annually by a value of nearly 160 million dinars (to a total of 700 million dinars), if the VAT on food donations were to be abolished.
“We are especially proud that so many organizations from different sectors joined the campaign and supported National Day of Giving, we are truly stronger together. However, the real difference would be made once the problem with VAT on food donations is resolved,” said Veran Matić, Executive Director, Serbian Philanthropy Forum.
Živković Samardžić Law Office received special gratitude and recognition from its long-term partners the Serbian Philanthropic Forum for its outstanding contribution to the ” Save Food, Save Humanity ” campaign.
The list of all the companies, CSOs and the media recognized today for their contribution to the campaign is available here. For more information about the “Save Food, Save Humanity” campaign, please see http://spasimohranu.rs/
The National Giving Day is part of the Framework for Giving project, supported by USAID and implemented by the Coalition for Giving, led by the Ana and Vlade Divac Foundation. Other members of the Coalition are the Trag Foundation, Catalyst Balkans, SMART Kolektiv, the Serbian Philanthropy Forum, the Responsible Business Forum, and the Serbian Chamber of Commerce and Industry.
Furthermore, you can contact Kruna Savović, Nataša Sarić, Milica Nešić for more legal information about the Coalition for Giving is calling for the abolition of VAT on food donations or any regular contacts at Živković Samardžić law office.
For more information on National Giving Day, please contact Jelena Bratić at jelena@filantropskiforum.com or +381 64 199 3114. For more information on the campaign “Let’s save food, let’s save humanity” and the Framework for Giving project, contact Dejan Drobnjak, at dejan.drobnjak@divac.com or at +381 62 77 45 43. For more information about USAID, please contact Mirjana Vukša Zavišić at mvuksa@usaid.gov or 065 316 45 30.
Nacionalni dan davanja: kompanije, NVO, mediji i građani ujedinjeni „Spašavaju hranu, spašavaju humanost“
Beograd – 9. oktobra 2021. godine Koalicija za dobročinstvo i Srpski filantropski forum obeležili su četvrti po redu Nacionalni dan davanja, uz podršku Američke agencije za međunarodni razvoj (USAID), odajući priznanja kompanijama (34), organizacijama civilnog društva (12) i medijskim kućama (12) koje su dale najznačajniji doprinos kampanji „Spasimo hranu, spasimo humanost“, ili su podržale pojedinačne inicijative u okviru kampanje.
“Ovogodišnja tema povećanja donacija hrane i smanjenja bacanja hrane potpuno je u skladu sa američkim vrednostima i običajima koje svakodnevno praktikujemo i negujemo”, rekao je Entoni Godfri, ambasador SAD u Srbiji
Kompanije koje su danas dobile priznanja su podržale Nacionalni dan davanja i kampanju velikodušnim novčanim donacijama i/ili donacijama u hrani koje će biti podeljene u vidu paketa osnovnih namirnica najugroženijim građanima u Srbiji. Mnoge od ovih organizacija i kompanija su takođe podržale kampanju ustupajući svoj medijski prostor kako bi podpomogle širenje poruka i podizanje svesti građana o problemu bacanja hrane. Kao deo kampanje zagovaranja, predstavnici medija su pripremali hranu sa poznatim kuvarima i restoranima koja je bila podeljena ugroženima, dok su neke kompanije pozvale svoje zaposlene da prikupe donacije u hrani kako bi dali doprinos ovoj inicijativi. I dok se očekuje da će u okviru ove kampanje biti sakupljeno dovoljno hrane da zadovolji osnovne potrebe hiljada građana u narednih nekoliko meseci, glavni cilj je osigurati da u budućnosti donacije hrane postanu pouzdan izvor osnovnih namirnica onima kojima su neophodne.
„Mudri ljudi su rekli da nam život pruža onoliko koliko smo spremni da pružimo drugima i da je bogat samo onaj čovek koji može i želi da pomogne drugima. Upravo na tim principima zajedno stvaramo bolje, humano i solidarno društvo”, rekla je Darija Kisić Tepavčević, ministarka za rad, zapošljavanje, boračka i socijalna pitanja.
Kampanja će trajati do sredine novembra za slučaj da ostale zainteresovane kompanije i organizacije žele da se uključe i doprinesu.
Danas su tokom događaja u Zadužbini Ilije M. Kolarca takođe bile predstavljene slike koje je uslikalo pet studenata Fakulteta primenjenih umetnosti. Ova dela mladih umetnika će biti poklonjena odabranim kompanijama koje su pružile izuzetnu podršku kampanji.
Dok u Srbiji, 480.000 ljudi živi na granici apsolutnog siromaštva, prema procenama u našoj zemlji se baca dva miliona kilograma hrane dnevno. Uprkos tome što se hrana sve više donira, a proizvođači hrane i trgovci žele da doniraju viškove hrane narodnim kuhinjama, bankama hrane i dobrotvornim organizacijama, količina hrane koja se donira i dalje čini samo mali deo u ukupnom višku jestive hrane dostupne u Srbiji. Prema analizi koju su sproveli Forum za odgovorno poslovanje i Koalicija za dobročinstvo, donacije hrane u Srbiji bi mogle da budu uvećane na godišnjem nivou za vrednost od blizu 160 miliona dinara (na ukupno 700 miliona dinara), ukoliko bi bio ukinut PDV na donacije hrane.
„Nama je posebno drago što se ove godine priključio i podržao Nacionalni dan davanja ovako veliki broj organizacija iz različitih sektora poslovanja, to pokazuje da smo zajedno jači. Ipak, najznačajniji pomak u rešavanju ovog problema bi bio napravljen ako bismo uspeli da najzad rešimo pitanje ukidanja PDV-a na donacije hrane“, rekao je Veran Matić, izvršni direktor Srpskog filantropskog foruma.
Advokatska kancelarija Živković Samardžić dobila je posebnu zahvalnost i priznanje od svojih dugogodišnjih partnera Srpskom filantropskog foruma za izuzetan doprinos kampanji „Spasimo hranu.“
Spisak svih kompanija, organizacija civilnog društva i medija koji su danas dobili priznanja za doprinos kampanji dostupan je na linku. Za više informacija o kampanji možete da posetite veb sajt: http://spasimohranu.rs/.
Nacionalni dan davanja i kampanja „Spasimo hranu, spasimo humanost“ se realizuju u sklopu Projekta za unapređenje okvira za davanje, koji podržava Američka agencija za međunarodni razvoj (USAID), a koji sprovodi Koalicija za dobročinstvo, na čelu sa Fondacijom Ana i Vlade Divac. Ostali članovi Koalicije su Trag fondacija, Catalyst Balkans, SMART Kolektiv, Srpski filantropski forum, Forum za odgovorno poslovanje i Privredna komora Srbije.
Za više pravnih informacija možete se obratiti Kruni Savović, Nataši Sarić, Milici Nešić ili vašem redovnom kontaktu u advokatskoj kancelariji Živković Samardžić.
Za više informacija o Nacionalnom danu davanja, obratite se Jeleni Bratić, na jelena@filantropskiforum.com ili na +381 64 199 3114. Za više informacija o kampanji „Spasimo hranu spasimo humanost“ i o Projektu za unapređenje okvira za davanje, obratite se Dejanu Drobnjaku, na dejan.drobnjak@divac.com ili na +381 62 77 45 43. Za više informacija o USAID-u, obratite se Mirjani Vukši-Zavišić na mvuksa@usaid.gov ili + 381 65 316 45 30.
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Živković Samardžić Advises Trigal on Its First Investment in Serbia
Monday, 25 October 2021
Živković Samardžić has advised Trigal on its investment in 5 urban lighting regeneration public-private partnership projects in Serbia. Projects are led by Resalta, the provider of energy services in the region, and include installation of new LED lights in 5 municipalities, which will bring significant savings. Lifetime of the projects is 13 years remaining.
This ESCO projects portfolio is the latest one in Trigal’s infrastructure portfolio and comes after implementation of this kind of projects in North Macedonia and Croatia. The term ESCO stands for energy service company and the model allows those companies to carry out energy services without the clients having to invest their own capital in the projects.
Trigal is a joint venture founded by KGAL Gmbh & CO. KG and Zavarovalnica Triglav d.d., combines investment, operational and asset management expertise providing tailored made solutions to a diverse client base; insurance companies, pension funds, family offices.
KGAL and Triglav insurance combine over EUR 23.2 billion of assets under management and joined forces to create Trigal, with a goal to become the leading real asset investment management platform for the Adriatic region.
Živković Samardžić acted as legal adviser to Trigal on all aspects of the deal, including the legal due diligence exercise, structuring the transaction, drafting and negotiating of transactional documentation, assisting with the preparation and execution of the closing process and all-encompassing legal advisory regarding post-closing activities.
The Živković Samardžić team that has advised Trigal on this deal was led by Partners Igor Živkovski and Sava Pavlović.
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Živković Samardžić Advises Joberty on Angel Investment for Entering Global Market
Wednesday, 22 September 2021
Živković Samardžić has advised Joberty, an online IT business platform that connects employers and candidates into a transparent ecosystem, on early-stage investment by angel investor, Kroog Ventures. With the investment of USD 350,000, this high-potential project has reached a value of as much as USD 3.3 million.
The initial capital will be used to expand Joberty platform in the region, the European market and beyond. Since its inception, the platform has numbered over 27,000 IT professionals and 600 companies, despite the many problems caused by the COVID-19 pandemic.
Joberty is an online platform founded in August 2019, created as a startup. The purpose of the platform is to enable employees in IT companies to share their work experiences, candidates to find jobs in the IT industry, and IT companies to find relevant candidates for their jobs. With this approach, Joberty provides the wider community with the opportunity to gain additional insight into the work ethic and culture of IT companies, thus increasing the transparency of the rapidly evolving IT community. The goal of the platform is to expand throughout the region, but also throughout other continents, especially throughout the US markets.
Kroog Ventures is an investment platform focused on European technology startup projects. It was founded in early 2021 and is investing in the early stages of development. It consists of entrepreneurs, technology seniors and experienced businessmen. Kroog Ventures supports startups not only financially, but also with strategic and operational support, as well as the access to the international network and capital markets.
Živković Samardžić acted as legal adviser to Joberty on all aspects of the deal, including structuring the transaction, drafting and negotiating of transactional documentation, as well as assisting with the preparation and execution of the closing process. The Živković Samardžić team that has advised Joberty on this deal was led by Partner Igor Živkovski.
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Pokrenuta kampanja „Spasimo hranu, spasimo humanost“
Tuesday, 24 August 2021
Beograd, 23. avgust 2021. godine – Sa ciljem da poveća svest građana o problemu bacanja hrane i nedovoljnih donacija hrane, ali i da doprinese unapređenju praksi koje će podstaći povećanje donacija hrane, Koalicija za dobročinstvo predvođena Fondacijom Ana i Vlade Divac, uz finansijsku podršku Američke agencije za međunarodni razvoj (USAID), pokrenula je 23. avgusta kampanju „Spasimo hranu, spasimo humanost“.
Kampanja, koja će trajati do novembra ove godine, obuhvatiće niz akcija doniranja hrane pred „Nacionalni dan davanja“, kao i tokom samog dana koji se već tradicionalno održava 9. oktobra.
U Srbiji, na granici apsolutnog siromaštva živi sedam odsto stanovništva, odnosno, gotovo pola miliona ljudi. U riziku od siromaštva je gotovo četvrtina populacije (23,2%). Mnogi od ovih građana Srbije zavise od donacija hrane koje su trenutno nedovoljne, dok se prema procenama u Srbiji dnevno baca dva miliona kilograma hrane.
Uprkos tome što se hrana sve više donira, a proizvođači hrane i trgovci žele da doniraju viškove hrane narodnim kuhinjama, bankama hrane i dobrotvornim organizacijama, količina hrane koja se donira i dalje čini samo mali deo u ukupnom višku jestive hrane dostupne u Srbiji. Rešenje ovog problema je u bližoj saradnji svih uključenih aktera.
Prema analizi koju su sproveli Forum za odgovorno poslovanje i Koalicija za dobročinstvo, donacije hrane u Srbiji bi mogle da budu uvećane na godišnjem nivou za vrednost od blizu 160 miliona dinara (na ukupno 700 miliona dinara), ukoliko bi bio ukinut PDV na donacije hrane.
Kada je u pitanju uticaj na životnu sredinu, podaci UN Agencije za hranu i poljoprivredu (FAO) ukazuju da je uništavanja hrane jedan od najvećih zagađivača vazduha sa osam odsto učešća u ukupnoj emisiji gasova koji izazivaju efekat staklene bašte na globalnom nivou.
Kampanjom „Spasimo hranu, spasimo humanost“ želimo da doprinesemo povećanju donacija hrane za najugroženije i smanjenju bacanja hrane koja je još uvek bezbedna za ljudsku upotrebu. Očekujemo veliku podršku građana, kompanija, organizacija civilnog sektora i medija i pozivamo sve da se uključe“ rekla je Ana Košel, direktorka Fondacije Ana i Vlade Divac.
Do sada su kampanju podržale advokatska kancelarija Živković-Samardžić, Hemofarm fondacija, Eurobanka, Erste banka, advokatska kancelarija Gecić Law, BlackRock, Elixir Group, Elixir fondacija, DM, Nestle, Delhaize, Američka privredna komora u Srbiji (AmCham), SOS Dečija sela Srbija, Federacija banaka hrane Srbije, Humano srce Šapca i Banka hrane Beograd, a u najavi je podrška još većeg broja kompanija i organizacija.
Kampanja „Spasimo hranu, spasimo humanost“ se realizuje u sklopu Projekta za unapređenje okvira za davanje koji finansira Američka agencija za međunarodni razvoj (USAID), a sprovodi Koalicija za dobročinstvo, koju predvodi Fondacija Ana i Vlade Divac. Ostali članovi Koalicije su Trag fondacija, Catalyst Balkans, SMART Kolektiv, Srpski filantropski forum, Forum za odgovorno poslovanje i Privredna komora Srbije.
Za više informacija o kampanji i načinima za uključivanje možete da posetite veb sajt: http://spasimohranu.rs/
Vizuale kampanje kao i video spotove možete da preuzmete sa linka.
Za više pravnih informacija možete se obratiti Kruni Savović, Nataši Sarić, Milici Nešić ili vašem redovnom kontaktu u advokatskoj kancelariji Živković Samardžić.
Launch of “Save Food, Save Humanity” Campaign
BELGRADE, August 23, 2021 – In order to increase public awareness of the problem of food waste and insufficient food donations, and also to contribute to the improvement of practices that would encourage increased food donations, the Coalition for Giving led by the Ana and Vlade Divac Foundation, with the financial support of the United States Agency for International Development (USAID), launched the campaign “Save Food, Save Humanity” on August 23.
The campaign, which will run until November this year, will include food donation actions before the National Day of Giving , as well as during the day itself, which is traditionally held on October 9.
In Serbia, seven percent of the population lives on the edge of absolute poverty, that is, almost half a million people. Almost a quarter of the population (23.2%) is at risk of poverty. Many of these Serbian citizens depend on food donations, which are currently insufficient, while an estimated two 2 million kilograms of food are thrown away daily in Serbia.
Despite the fact that food donations are increasing, and food producers and merchants want to donate surplus food to soup kitchens, food banks and charities, the amount of food donated still makes up only a small portion of the total surplus edible food available in Serbia. The solution lies in the closer cooperation of all stakeholders.
According to analysis conducted by the Responsible Business Forum and the Coalition for Giving, food donations in Serbia could increase annually by a value of nearly 160 million dinars (to a total of 700 million dinars), if the VAT on food donations were to be abolished.
When it comes to environmental impact, data from the UN Food and Agriculture Organization (FAO), indicate that food destruction is one of the biggest air pollutants, generating eight percent of global greenhouse gas emissions.
“With the ’Let’s save food, let’s save humanity’ campaign, we want to contribute to increasing food donations for the most vulnerable and to reduce the waste of food that is still safe for human consumption. We expect great support from citizens, companies, civil society organizations and the media, and we invite everyone to get involved,” said Ana Koeshall, Director of the Ana and Vlade Divac Foundation.
So far, the campaign has been supported by the law office Živković-Samardžić, the Hemofarm Foundation, Eurobank, Erste Bank, Gecić Law Office BlackRock, Elixir Group, Elixir Foundation, DM, Nestle, Delhaize, AmCham, SOS Children’s Villages Serbia, Federation of Food Banks of Serbia, Humano srce Šapca and Food Bank Belgrade, and the support of an even larger number of companies and organizations has been announced.
The campaign ” Let’s save food, let’s save humanity ” is implemented as part of the Framework for Giving project, funded by the United States Agency for International Development (USAID), and implemented by the Coalition for Giving, led by the Ana and Vlade Divac Foundation. Other members of the Coalition are the Trag Foundation, Catalyst Balkans, SMART Kolektiv, the Serbian Philanthropy Forum, the Responsible Business Forum, and the Serbian Chamber of Commerce and Industry.
For more information about the campaign and ways to get involved, you can visit the website: http://spasimohranu.rs/
You can download Campaign visuals as well as videos from the link. Furthermore, you can contact Kruna Savović, Nataša Sarić, Milica Nešić for more legal information about the Coalition for Giving is calling for the abolition of VAT on food donations or any regular contacts at Živković Samardžić law office.
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Živković Samardžić Advises Credo Ventures on Investment in Startup Trickest
Friday, 13 August 2021
Živković Samardžić has advised Credo Ventures on its investment in Trickest, a Belgrade-based startup building a workflow automation and orchestration tool for bug bounty hunters, penetration testers, and enterprise security teams. Trickest has raised a EUR 1.4 million seed round and the round is led by Credo Ventures, with participation from Earlybird Digital East Fund, with Daniel Dines and Marius Tirca, CEO and CTO of UiPath also participating as angel investors. Proceeds from the round will be used to accelerate hiring and support the company’s early access launch.
Credo Ventures is a venture capital company focused on early stage investments in Central and Eastern Europe. It is on a mission to identify and back the most interesting early stage companies in the region, support them in their growth plans (including expansion to the U.S. / global market), and help to achieve their objectives. Credo Ventures is looking for opportunities to invest in high-growth potential companies with international ambitions and competence to execute and deliver, while its industry focus is IT, Internet, and health.
Trickest’s co-founders combined their security and data backgrounds to start Trickest in late 2019. The company’s cloud-based workflow editor makes it easy to build and automate tests in a drag-and-drop way, and while the platform supports starting from scratch, Trickest makes the best crowdsourced knowledge available to everyone thanks to a library of 100+ open-source tools. Additionally, more advanced users can also drop in their custom scripts for maximum flexibility and control. The company also takes care of infrastructure management – workflows can be run in the cloud with one click and are designed to support features like auto-scaling and cost controls out of the box.
Živković Samardžić’s scope of work consisted of performing due diligence of Trickest, drafting and negotiating of transactional documentation, structuring the transaction, as well as all-encompassing legal advisory regarding post-closing activities for Credo Ventures. The Živković Samardžić team that has advised Credo Ventures on this deal was led by Partner Igor Živkovski and included Partners Slobodan Kremenjak, who advised on intellectual property matters and Ana Popović, who advised on employment matters.
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IFLR1000 recognizes Branislav Živković and Miloš Milošević as Highly Regarded Lawyers and Igor Živkovski as Rising Star
Thursday, 29 July 2021
IFLR 1000, a guide to the world’s leading financial and corporate law firms and lawyers, has once again ranked Živković Samardžić, one of Serbia’s leading law firms, for its financial and corporate practice as well as recognized Branislav Živković as Highly Regarded lawyer in M&A, Real Estate Finance and Real Estate Acquisitions, Miloš Milošević as Highly Regarded lawyer in Restructuring and Insolvency and Igor Živkovski as Rising Star in Corporate and M&A practice areas in Serbia.
Directory, released by International Financial Law Review, the market-leading financial publication for lawyers specialising in international finance in financial institutions, corporates and private practice, feature tiered rankings of the financial and corporate law firms and lawyers, recognized by their peers and clients to be the leading figures in their specialist areas, in more than 235 jurisdictions across the globe. The editorial for Serbia is available here.
Branislav Živković has been practicing law since 1988 and is a founding partner of Živković Samardžić. His wide-ranging experience covers mergers and acquisitions, joint ventures, privatizations, acquisition and corporate finance, transactional tax aspects, complex commercial contracts and real estate and project finance.
Miloš Milošević joined Živković Samardžić in 2010. He graduated at the University of Belgrade Faculty of Law in 1995 and spent 15 years in the judiciary, as a judicial clerk at the Commercial Court in Belgrade and the Supreme Court of Serbia, Judge at the Fourth Municipal Court in Belgrade and a Civil Law Appellate Chamber Judge at the District Court in Belgrade.
Igor Živkovski graduated at the University of Belgrade Faculty of Law in 2010 and has been with Živković Samardžić since 2013, after six-month internship at the United Nations International Criminal Tribunal for the former Yugoslavia in The Hague and two years with another reputable law firm in Belgrade.
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TOPIC: CLOSING A COMPANY IN LIQUIDATION PROCEDURE THROUGH BANKRUPTCY
Friday, 16 July 2021
It’s not uncommon in practice for a company in liquidation procedure not to carry out the procedure until its completion, but over time to find itself in a situation where its accounts are blocked and there are no assets to settle creditors depts. Bearing in mind that the nature of debts is only to increase over time, such companies often become „paralyzed “, which is caused by the most common bankruptcy reasons:
• permanent insolvency,
• over-indebtedness.
If a situation like this occurs, the possibility of closing the company through bankruptcy procedure opens up. The main advantage of this procedure is efficiency and achieving the desired goal in a short period of time.
An important fact that needs to be proven during this procedure is that the obligations of the company are larger than its assets, which prevents the company from fulfilling the existing obligations towards creditors.
As this is a procedure which successful completion requires the cooperation of different professions, it is useful to hire a lawyer in order to successfully finish the procedure by closing the company and deleting it from the Business Registers Agency. The consequence of all the above mentioned is that the company is released from its obligations to creditors.
Under what conditions is possible for the procedure to end in bankruptcy at the first creditors hearing, whether the founder of the company can influence the course of the procedure, how many claims are needed for the procedure not to be suspended, what are the consequences if it is determined that the company in the period before the opening of bankruptcy made dispositions that could have damaged the creditors, are all the questions to which our office with extensive experience in this area can give you an answer.
For all additional information, feel free to contact our partners from the litigation department Miloš V. Milošević, via e-mail address milos.milosevic@zslaw.rs and Ivan Ljubisavljević, via e-mail address ivan.ljubisavljevic@zslaw.rs, or via our regular contact address office@zslaw.rs.
TEMA: GAŠENJE FIRME U LIKVIDACIJI KROZ STEČAJ
Neretka je situacija u praksi da privredno društvo koje se nalazi u postupku likvidacije ne sprovede postupak do njegovog okončanja, već se protekom određenog vremena nađe u situaciji da su mu računi blokirani, a društvo nema imovine kojom bi izmirilo dugovanja prema poveriocima. Imajući u vidu da je priroda dugovanja takva da se dugovanja protekom vremena isključivo uvećavaju, ovakva društva neretko dolaze u status tzv. „paralize“ prouzrokovane najčešćim stečajnim razlozima i to:
• trajnijom nesposobnošću plaćanja;
• prezaduženošću.
Ukoliko dođe do ovakve situacije, otvara se mogućnost gašenja firme bankrotstvom kroz stečajni postupak. Glavna prednost ovog postupka je efikasnost i postizanje željenog cilja u kratkom vremenskom periodu.
Bitna činjenica koju je potrebno dokazati tokom stečajnog postupka jeste da li je pasiva društva, odnosno njegove obaveze, veća od aktive društva, odnosno njegove imovine. Ukoliko je pasiva društva veća od njegove aktive, društvo je onemogućeno da izvrši postojeće obaveze prema poveriocima.
Kako se radi o postupku za čije uspešno okončanje je potrebno učešće lica iz različitih struka, korisno je angažovati advokata kako bi se postupak uspešno okončao gašenjem firme i brisanjem iz Registra privrednih subjekata koji se vodi u Agenciji za privredne registre Republike Srbije. Posledica svega navedenog je da društvo biva oslobođeno obaveza koje ima prema poveriocima.
Pod kojim uslovima je moguće da se već na prvom poverilačkom ročištu postupak okonča bankrotstvom, da li osnivač društva može da utiče na tok postupka, koliko je prijava potraživanja potrebno da se postupak ne bi obustavio, koje su posledice ako se utvrdi da je društvo u periodu pre otvaranja stečaja vršilo raspolaganja koja su mogla oštetiti poverioce, sve su pitanja na koja Vam naša kancelarija sa velikim iskustvom u ovoj oblasti može dati odgovor.
Za sve dodatne informacije možete se obratiti našim partnerima iz litigation odeljenja Milošu V. Miloševiću, putem e-mail adrese milos.milosevic@zslaw.rs, Ivanu Ljubisavljeviću putem e-mail adrese ivan.ljubisavljevic@zslaw.rs, ili na adresu za redovan kontakt office@zslaw.rs.
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- Published in Client Updates
Živkovic Samardžić Advises on Eurobank a.d. Beograd Merger with Direktna Bank a.d. Kragujevac
Friday, 02 July 2021
Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised on the merger of Eurobank a.d. Beograd (“Eurobank Serbia”), a Serbian subsidiary of Eurobank S.A. (“Eurobank”), subsidiary of “Eurobank Ergasias Services and Holdings S.A.” (Eurobank Holdings), with Direktna Banka a.d. Kragujevac (“Direktna”), with absorption of Direktna by Eurobank Serbia (the “Transaction”).
The Eurobank Group is a dynamic banking group active in six countries, with total assets of €67.7 billion and 11,394 employees. Established in 1990, the Group expanded through organic growth to become a leading force in Greek banking sector. In Serbia, Eurobank (after two successful acquisitions – Poštanska banka and Nacionalna štedionica) is today among the leading foreign investors and financial institutions.
Direktna is a modern, domestic and universal bank, whose business strategy is focused on business with the population and the economy. It was created by the purchase of KBM Bank, then Findomestic BNP Paribas and Piraeus Bank a.d. Beograd, which formed a strong and stable financial institution.
The combined bank (“Eurobank Direktna”) will have total assets in excess of €2bn, total equity above €300m and, accounting for the expected fully-phased synergies, pre-provision income and net income in excess of €50m and €35m respectively.
The combined bank’s market share will exceed 6.5%, in terms of total loans, making the bank the seventh largest in Serbia.
After the completion of the Transaction, Eurobank will control c. 70% of the combined bank while Direktna’s shareholders will own the remaining 30%. Both parties have committed to a growth-oriented business plan, incorporating ambitious expansion targets that will allow the combined bank to finance the Serbian economy and grow profitably in the next few years. Part of the Transaction is the payment of a dividend/capital return to Eurobank. The Transaction is capital neutral for Eurobank and earnings per share (EPS) accretive by 3% post synergies.
Completion of the Transaction is subject to customary approvals by the competent regulatory and supervisory authorities and is expected to take place during the last quarter of 2021. The Živković Samardžić team provided legal assistance and advice both involved banks on the Transaction. This deal was led by Partners Branislav Živković, Uroš Đorđević, Igor Živkovski and Sava Pavlović.
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- Published in Deals and Cases
Sava Pavlović was one of the speakers at the Zoom discussion dedicated to “Legal regulations in e-commerce”
Tuesday, 01 June 2021
For the third time in a row, Sava Pavlović, Attorney at law and Corporate and M&A Senior Associate with Živković Samardžić Law office, took part in eCommerce Academy organized by eCommerce Association of Serbia.
As a legal professional with expertise in e-commerce, Sava is one of 16 e-commerce experts gathered around eCommerce Academy , who share their experience through online lectures and interactive workshops.
Yesterday, as an event organized as a part the eCommerce Academy, Zoom discussion dedicated to the legal aspects of e-commerce in Serbia, entitled “Legal regulations in eCommerce”, was held, and Sava was one of the speakers, alongside other prominent speakers coming from the Ministry of the Trade, Tourism and Telecommunication as well as from the business. If you are interested in the topics, but you missed the live stream, you may find video recording of the discussion here.
If you are interested in finding out more or have any inquiries on eCommerce, please contact Sava Pavlović at sava.pavlovic@zslaw.rs.
- Published in E-Events
