Solicitors governing body: Advokatske Komore Crne Gore
Competition authority: The Agency for Protection of Competition
Financial regulator: CBCG: Central Bank of Montenegro
IFLR1000 ranking categories for this jurisdiction:
The state of Montenegro has gone through a number of different forms in the past two decades. Following the dissolution of the Socialist Federal Republic of Yugoslavia in 1992, the country became part of the smaller Federal Republic of Yugoslavia, in 2002 a smaller union was renamed Serbia and Montenegro. Four years later following a referendum the country declared independence. The country adopted its current constitution in 2007.
The country is a civil law jurisdiction and is moving to bring its legislation in line with EU standards. The country began formal accession talks with the body in 2012.
The Montenegro office of Serbian firm BDK has a notable presence in the jurisdiction and is known to work on government mandates.
The firm has been active in M&A. Notable work includes advising the agent and syndicate of lenders on the Telenor acquisition and acting for the government on the privatisation of Elektropriveda.
In project work the firm has been advising the likes of China Export & Credit Insurance Company on the political insurance issues of the Mozura wind farm. It is also acting for the state on the development of cable car between Italy and Montenegro.
Notable clients include Government of Montenegro and China Export & Credit Corporation.
"Excellent understanding of clients' needs and in-depth knowledge of the local regulations/laws." – M&A, project development
Capable across all practice areas, CMS Reich-Rohrwig Hainz’s strength is in financial and corporate work where it advises international banks and corporations in Montenegro.
In banking the firm has primarily been advising lenders on financing and regulatory matters. Elsewhere it advised Heta Asset Resolution on corporate and financial restructuring mandates.
Notable clients include EBRD, Strabag, and Citibank.
Montenegro’s first international firm, Harrisons, is one of the leading firms in the jurisdiction with notable strength in the finance area.
Its financial and corporate practice has advised lenders on facility agreements, project finance and loan transactions across sectors including shipping and aviation. It also advised Credit Suisse and China Development Bank on its loans to Montenegro. Its project work is spread across ports, tourism, energy, and infrastructure sector and primarily involved advising developers including Hydra and Lustica Development
EBRD, IFC and China Development Bank are some of the firm’s key clients.
Karanovic & Nikolic works in conjunction with local lawyers and has a strong presence in financial and corporate work. Its regional network of offices allows the firm to draw into additional support if necessary.
The firm has been advising international lenders on loan transactions and has advised project developers and investors on regulatory matters relating to hotel projects. It has also advised the lender on the renewal of the pledge of shares. The firm’s project portfolio has included both financing and development works in wind power plants, airports and hydrocarbons area advising the project developers likes of Ivicom Holding and the government in conjunction with international financial institutions.
The firm has acted for Oikocredit international, IFC and Akuo Energy.
Moravčević Vojnović and Partners in cooperation with Schoenherr’s strength lies in its corporate practice.
In the banking area the firm advised the likes of BNP Paribas as lenders on a secured loan transaction. It also acted for the joint lead managers on a bond issuance by the state.
Recently the firm advised on several takeovers and sales in restructurings. Its other M&A mandates were in the telecommunications and energy sectors where it primarily advised buyers.
In project development the firm has acted on wind, solar and infrastructure projects, including the construction of a cable car for a local construction company.
HETA Resolution, Societe Generale and EPCG are some of the firm’s key clients.
"We are very satisfied with the company." – M&A, project development
Vukmirovic Misic Law firm is active in banking and M&A. One of its highlight work saw the firm advise Pavgord on its acquisition of five gas stations. Elsewhere, it has picked up work across banking, IT and real estate sectors where it advised local banks and start-ups on financing and regulatory matters.
Key clients include Addiko Bank and Zain Property Development.
"I am extremely pleased with their work. They always think outside the box, which is, in my opinion, very important and helps them find creative solutions to problems at hand. They are very well-organised." – Banking, investment funds, regulatory, restructuring and insolvency