Wolf Theiss

LEGAL ASSISTANCE TO THE MINISTRY OF FINANCE OF THE REPUBLIC OF ALBANIA

In 2010, the government of Albania completed its first ever Eurobond issue, a highly successful transaction on both a local and an international level. Back then, Wolf Theiss advised the lead managers in this transaction, raising awareness of the need to amend the Albanian legislation in order to pave the way for future capital markets transactions on a state level.   

Having played an integral part in this first-ever Eurobond transaction, Wolf Theiss partner Sokol Nako was ideally qualified to further advise the Albanian government on developing a state bonds legislative framework; one that could be both modern enough for the international markets and also in line with existing Albanian legislation.

It came as no surprise when, in June 2010, Mr. Nako was called upon by the Ministry of Finance of the Republic of Albania to advise on amending Albania's legislation including, most importantly, state borrowing and state budgeting legislation. Given the importance of state borrowing legislation to the country's economy, Mr. Nako was honoured to contribute his services on a pro-bono basis to the development of the legal framework regulating this important matter.

Since June 2010, Mr. Nako has been involved in preparing proposals and draft laws to be put forward to the Parliament of the Republic of Albania, as well as considerations of several constitutional matters arising out of state borrowing. In this matter, Mr. Nako has both provided a legal opinion and advised on seeking a binding decision by the constitutional court of the Republic of Albania.

Since June 2010, Mr. Nako has been involved in preparing proposals and draft laws to be put forward to the Parliament of the Republic of Albania and has been dealing with several constitutional matters arising out of state borrowing. In this matter, Mr. Nako has both provided his opinion and advised on seeking a binding decision by the constitutional court of the Republic of Albania.

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