PLK Advokati advised prominent banking consortium in relation to EUR 205 milion financing

PLK Advokati, together with global law firm Paul Hastings and esteemed Kinstellar’s team in Serbia, amongst others, have provided counsel to a prominent banking consortium, including Deutsche Bank, Alpha Bank, UniCredit and UniCredit Bank Serbia. The banking consortium provided EUR 205 milion financing for global investment firm Actis – in relation to their acquisition of…

Amendments to Games of Chance Law introduced in Montenegro

Introduced at the end of December 2023 and entered into force as of 1 January 2024, the long awaited changes in the games of chance industry have been implemented into Montenegrin legal system, manifested through the amendments to the Games of Chance Law. As declared by the Government of Montenegro, the primary aim of enacting…

PLK Advokati advised CKB on financing the Boka Place project

PLK Advokati, together with ZSP and Dentons, advised Crnogorska komercijalna banka A.D. Podgorica, OTP Group member, on granting a loan of up to EUR 25 million to “PM 4.1” d.o.o. Tivat, member of Porto Montenegro Group, for financing the continuation of the project construction named Boka Place (“Project”). The financing will be used for construction…

Steps to energy transition in Montenegro

On 3 August 2022, the amendments to the Construction Law (the “Law“) entered into force. The Law enacts new provisions that are of essential importance for enabling further development of energy transition in Montenegro. In addition, the doubts regarding the deadline for the adoption of the long-awaited General Regulation Plan of Montenegro (the “Plan”) have…

Digital nomads are now recognized under Montenegrin Foreigners Law

On 28 July 2022, the Parliament of Montenegro enacted the Law on Amendments to the Foreigners Law (the “Law“). The purpose of enactment of the Law is to enable digital nomads to regulate their residential status in Montenegro. The Law will enter into force on 11 August 2022. The effect of the Law The Law…

Draft Law on Credit Guarantee Fund Announced for Public Consultation

On 30 November 2021, the Ministry of Economic Development of Montenegro (the „Ministry“) announced the public call for consultations of the interested public on the draft of the Law on Credit Guarantee Fund (the “Draft Law”). As declared in the public call, the Draft Law is prepared by the Ministry and it is published on…

Elektroprivreda Crne Gore announced international public invitation for financing solar projects

Elektroprivreda Crne Gore announced international public invitation for financing solar projects On August 2, 2021, Elektroprivreda Crne Gore (“EPCG”) announced international public invitation to local and international financial institutions for securing of funds for financing of the project “Solari 3000+” and “Solari 500+ for legal entities (small-scale plants and public institutions)”. Under content of public…

Government of Montenegro Gives a Boost to Velje Brdo Solar Power Plant Construction

Government of Montenegro Gives a Boost to Velje Brdo Solar Power Plant Construction On 13 May 2021, the Government of Montenegro (the “Government”) adopted the information on initiating activities on construction of Velje Brdo solar power plant, near Podgorica (the “Information”). The Information envisaged that the Ministry of Capital Investments (“Ministry”) recognized the increase of...

Draft Insurance Law announced for public consultations

Draft Insurance Law announced for public consultations On 3 February 2021, the Ministry of Finance and Social Welfare of Montenegro (the „Ministry“) announced the public call for consultations of the interested public on the draft of the new Insurance Law. As declared in the public call, the draft is prepared by the Insurance Monitoring Agency...