IFLR 1000
The Guide to the World's Leading Financial Law Firms

The area of Croatia's economy that has been worst hit by the global downturn is the real-estate development market, with foreign direct investment falling by at least 20% during the first two quarters of 2009. This has obviously had a deadly effect on the previously booming construction industry, and some large commercial and retail construction projects have been put on indefinite hold....

The area of Croatia's economy that has been worst hit by the global downturn is the real-estate development market, with foreign direct investment falling by at least 20% during the first two quarters of 2009. This has obviously had a deadly effect on the previously booming construction industry, and some large commercial and retail construction projects have been put on indefinite hold.

The banking sector has also been hit badly by the downturn, suffering from the dual and mutually-supporting ailments of risk-aversion and the tightening of lending schedules by foreign parent banks in even more exposed economies.

Firms obviously reported a drop in activity in 2009 regarding construction and acquisition finance, but the stretching-out of some mandates, as well as the demand for corporate restructuring advice, has tended to keep many of them busy.