Živković Samardžić advises AIK Banka on the acquisition of Alpha Bank Srbija
Wednesday, 12 April 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised MK Group, a leader in the agricultural and sugar industry in Serbia, and its subsidiary AIK Banka, on the acquisition of Alpha Bank Srbija A.D.
As reported on 11.4.2017, following the provision of the relevant regulatory approvals, AIK Banka A.D. Beograd completed the acquisition of 100.0% stake in the share capital of Alpha Bank Srbija A.D. Alpha Bank Srbija A.D. shall continue to operate as Jubanka A.D. Beograd, the name it held since the mid-twentieth century and up to its privatization in 2005.
MK Group, founded in 1980, with its 40 subsidiaries and 7,000 employees, in addition to the agriculture and the sugar industry, also operates in the field of meat processing and renewable energy sources, financial and IT services, real estate and tourism.
AIK Banka is the winner of the 2016 International Banker Awards in the Best Commercial Bank of the Year in Serbia and the Best Customer Service Provider of the Year in the Eastern Europe categories.
The seller, Athens-based Alpha Bank, who entered the Serbian market in 2002 and expanded its presence in 2005 through the privatization of Jubanka A.D. Beograd, announced that the transaction contributes towards, and is fully consistent with, the execution of its EU-backed restructuring plan.
“The deal is crucial as it represents the first significant transaction that is part of the upcoming consolidation of the domestic banking market,” said Jelena Galić, AIK Banka CEO.
MK Group and AIK Banka were advised by the international law firm Holman Fenwick Willan and Živković Samardžić. The Živković Samardžić team which advised on the transaction was led by partners Branislav Živković and Miloš V. Milošević, with support from associate Sava Pavlović.
- Published in Deals and Cases
No Comments
Top-Tier Ranking in Chambers Europe 2017 for Živković Samardžić Dispute Resolution Practice
Monday, 10 April 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms has been ranked as a top-tier Serbian Dispute Resolution firm by leading legal directory Chambers and Partners in its 2017 Europe edition. The firm has retained its top-tier Dispute Resolution Chambers ranking for the fourth year running and has also improved its ranking in the Employment practice area.
The directory recognizes Živković Samardžić for its “strong commercial litigation practice” that is “well placed to receive contentious mandates deriving from financial, insolvency and labor issues, in addition to regulatory matters” and “particularly adept at offering experienced advice on international investment treaty arbitration cases and IP litigation.”
Miloš Milošević, Partner, head of Živković Samardžić Dispute Resolution practices and Miloš Živković, of counsel, were ranked individually for their Dispute Resolution work. Chambers Europe 2017 guide quotes clients who have praised Miloš Milošević for being “among the handful of best commercial litigators in the country” and Miloš Živković for his “experience in arbitration.”
Jovana Tomić, Partner and head of Živković Samardžić Employment practices, was also ranked individually for her counsel on sensitive employment cases, her expert command of employment litigation, union negotiations work and counsel provided on redundancies arising from changes in staff structure within companies.
- Published in Uncategorized
IFLR 1000 recognizes Branislav Živković and Miloš Milošević as the leading lawyers
Friday, 14 October 2016
IFLR1000 Financial and Corporate 2017 directory has once again ranked Živković Samardžić, one of the Serbia’s leading law firms, for its financial and corporate practice as well as recognized Branislav Živković, Živković Samardžić managing partner as the leading lawyer in the M&A and Real Estate Finance and Miloš Milošević, partner and head of Dispute Resolution, as the leading lawyer in the Restructuring and Insolvency 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 120 jurisdictions across the globe.
Branislav Živković is practicing law since 1988. 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, and 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.
- Published in Uncategorized
Another Supreme Court of Cassation Victory in a Multimillion Shareholder Dispute
Wednesday, 13 July 2016
Živković Samardžić’s dispute resolution team secured Supreme Court of Cassation victory for Vlade Divac, former professional basketball player and incumbent President of the Serbian Olympic Committee, in proceedings related to certain share transfers in an alcoholic beverages producer and a water bottling plant.
Vlade Divac was a defendant in a multimillion litigation initiated by Vojin Djordjević, Serbian businessman, who requested certain share transfer agreements related to shares in an alcoholic beverages producer and a water bottling plant, he entered into with Mr. Divac, to be nullified or rescinded, since having led to a different outcome than the one envisaged originally in a Letter of Intent signed between the parties in November 2006.
After the Commercial Court in Belgrade decided in favor of Mr. Divac in 2013, as well as the Commercial Appellate Court in the appellate proceedings in 2014, the Supreme Court of Cassation has found that despite the fact that the ownership structure in two companies was indeed different than the one envisaged originally in the Letter of Intent, it happened due to the plaintiff’s failure to act in accordance with his contractual obligations rather than an error or deception. Thus, the Supreme Court of Cassation has finally confirmed the decisions of lower-instance courts
Furthermore, the Supreme Court of Cassation confirmed the legal standpoint of the Serbian jurisprudence that share transfer agreements after they have produced effects by registration of the transfer in the Company Register, cannot be subject to annulment or rescission on the grounds provided in the Law on Contracts and Torts, but rather the proceedings for the nullification of the incorporation of the company, as provided in the Companies Act, should be initiated.
Živković Samardžić team successfully representing Mr. Divac was led by Miloš V. Milošević, Dispute Resolution Partner and Marko Trišić, Dispute Resolution Senior Associate.
Photo by krik.rs
- Published in Deals and Cases
Živković Samardžić achieves Supreme Court of Cassation victory for Vojvodjanska banka a.d.
Tuesday, 05 July 2016
Živković Samardžić’s dispute resolution team has recently achieved a major victory at the Supreme Court of Cassation. The firm has represented Vojvodjanska banka a.d. Novi Sad, member of the National Bank of Greece Group in civil proceedings related to a bank guarantee issued by legal predecessor of Vojvodjanska banka a.d. to Moscow Investment bank as a collateral for USD 3 million loan granted to petrochemical plant HIP Pančevo.
Vojvodjanska banka a.d. Novi Sad was a defendant in a litigation initiated by PFHC Establishment, a company from Liechtenstein to whom receivables related to USD 3 million loan originally granted by Moscow Investment bank to the Serbian petrochemical plant HIP Pančevo, were assigned. Once the original loan was granted, legal predecessor of Vojvodjanska banka a.d. issued a bank guarantee as a collateral.
In lengthy proceedings, it was established that Moscow Investment bank returned the original of the guarantee with an explanation that the transaction was completed, but later on had sent a swift message demanding the guarantee back and claiming that it was returned by mistake of an employee.
The Commercial court in Pančevo initially rejected all PFHC Establishment claims in 2010. However, that decision was quashed and a retrial ordered by the Commercial Appellate Court upon plaintiff’s appeal in 2013. Živković Samardžić were retained to represent Vojvodjanska banka a.d. since the commencement of the retrial. The first instance judgement in the retrial was once again in favor of Vojvodjanska banka a.d., but this time it was confirmed by the Commercial Appellate Court in September 2015 and now finally by the Supreme Court of Cassation.
In essence, the Supreme Court of Cassation confirmed the standpoint of Živković Samardžić lawyers that the form prescribed for interbank communication concerning bank guarantees was not followed by the Moscow Investment bank’s swift message sent to the defendant after the original of the guarantee was returned, and for those reasons the swift message produced no legal consequences.
The Živković Samardžić team successfully representing Vojvodjanska banka a.d. was led by Miloš V. Milošević, Dispute Resolution Partner and Marko Trišić, Dispute Resolution Senior Associate.
Photo by krik.rs
- Published in Deals and Cases
Živković Samardžić Retained Dispute Resolution Top-Tier Ranking in Chambers Europe 2016
Tuesday, 26 April 2016
Živković Samardžić, one of the Serbia’s leading full-service independent law firms has again been ranked as a top-tier Serbian Dispute Resolution firm by leading legal directory Chambers and Partners in its 2016 Europe edition. The firm has retained its Dispute Resolution Chambers ranking for the third year running, since it was also ranked in the top tier for Dispute Resolution in Serbia by Chambers and Partners in 2014 and 2015. The Chambers Europe 2016 also ranked several Živković Samardžić lawyers, including Head of Dispute Resolution Partner Miloš Milošević and of counsel Miloš Živković. (more…)
- Published in Uncategorized
Živković Samardžić ranked in four out of five practice areas covered in Serbia by the Legal 500 EMEA 2016
Wednesday, 13 April 2016
Živković Samardžić, one of the Serbia’s leading full-service independent law firms has been ranked in four out of five practice areas covered in Serbia by the Legal 500 Europe, Middle East and Africa (EMEA) 2016 rankings. (more…)
- Published in Uncategorized
Top Tier Rankings yet again for Živković Samardžić Dispute Resolution practice in Chambers Europe 2015
Friday, 08 May 2015
- Published in Uncategorized
Živković Samardžić Earns Top Tier Rank in Dispute Resolution in Serbia by Chambers Europe 2014
Wednesday, 07 May 2014
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has received Chambers and Partners’ highest endorsement, ranking in Band 1 in Dispute Resolution category in Chambers Europe 2014. (more…)
- Published in Uncategorized
- 1
- 2
