Austrian Legal Know-How restructures Kosova’s key infrastructure companies

PRISHTINA, Sept. 4 – Austrian company WOLF THEISS said that after recent incorporation of several major strategic enterprises in Kosova, once again it showed that it was a front-runner in the field of complex corporate restructuring in the CEE/SEE region. From December 2005 to February 2006, the Kosova Trust Agency (KTA) successfully completed the reorganization and incorporation of the following key infrastructure companies:
– Kosova Energy Corporation (KEK),
– (a newly established) Electricity Transmission System and Market Operator,
– Kosova Railways,
– Termokos (the Prishtina district heating company), and
– Gjakova District Heating.
The reorganization and incorporation of the Companies was financed by the European Agency for Reconstruction (EAR), and was carried out within a period of 12 months by a consortium in which WOLF THEISS played an essential role as legal adviser.
The goal to be achieved through the restructuring and incorporation of the Companies נonce so-called publicly owned enterprises (a corporate form that existed under socialist Yugoslav laws in the 1980s) נwas to create legal entities in the modern sense, i.e.,. ones that can now, for example, operate in financial markets to obtain loans and funding, enter into joint venture agreements and strategic partnerships, or be privatized.
“Reorganizing and incorporating the energy sector for all of Kosova also required input as to the future set-up of Kosova’s energy sector. In this respect, WOLF THEISS played a key role in formulating and effectuating the first actual steps to unbundle the Kosova energy sector,” notes Peter Oberlechner. “Through our input, it was possible for Kosova to comply with the requirements of donor organizations as well as with its obligations under multilateral treaties,” adds Christian Mikosch.
The project was managed by two partners from WOLF THEISS’ Vienna office, Peter Oberlechner and Christian Mikosch. They were supported by WOLF THEISS Tirana, led by the associate and Albanian attorney Rezarte Vukatana.
Following the successful reorganization and incorporation of Prishtina International Airport, this recent reorganization and incorporation of five strategic companies in Kosova marks yet another impressive achievement for WOLF THEISS, Founded in 1957, Wolf Theiss is one of the top law firms in Central Europe. The firm specializes in Austrian, European and international business law. The firm was named “Austrian Law Firm of the Year” in 2003 and 2005 by the International Financial Law Review. Clients include Austrian and foreign industrial, commercial and service companies, as well as banks and insurance companies. With offices in Albania, Austria, Bosnia & Herzegovina, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia, Wolf Theiss is one of the largest law firms in the region.