2012 Financial and Corporate

• Recommended Firm Top Tier 1

“ Cakmakova Advocates has developed itself a sturdy reputation on the Macedonian market and has rapidly built market share. No doubt, a large part of this ascendency owes much to Biljana Cakmakova at the helm. "Cakmakova rotates around one person," says one peer. The firm has been active with international financial institutions and advised the European Bank for Reconstruction and Development (EBRD) on a loan agreement with Ohridska Banka. The firm is also acting as local legal advisor to Fox International Channels Bulgaria and Italy on competition and intellectual property matters. The firm has ties with Freshfields Bruckhaus Deringer and possesses an established client base advising the likes of Proctor & Gamble, Telecom Slovenije, Visa International and IBM among others.”

2011 Financial and Corporate

• Recommended Firm Tier 1

“Cakmakova Advocates is highly regarded by both competitors and clients. Peers describe the firm’s work as reliable and consistently of a high standard, and name partner Biljana Cakmakova as its primary contact. The firm works on a regional level and key clients include international banks, energy providers and telecoms companies, one of which says: “They are very knowledgeable and thorough in their work and they provide very comprehensive and accurate advice and reports.”

2010 Financial and Corporate

• Recommended Firm Tier 1

2009 Financial and Corporate

• Recommended Firm Tier 1

2008 Financial and Corporate

• Recommended Firm Tier 1

“Biljana Cakmakova heads the practice of Mens Legis Cakmakova Advocates after Ljubica Ruben went on to form Mens Legis Law Firm. The four-partner firm has been advising EVN Austria in the tender process for the privatization of ESM. Another significant transaction it has been involved in is the proposed capital takeover of On.Net Information Systems by the firm’s client, Telekom Slovenije. Its client list makes for impressive reading, boasting the likes of Pfizer, Messer, Louis Berger, Alcatel Services International and ICN Pharmaceuticals.”

2007 Financial and Corporate

• Recommended Firm Tier 1

“According to rivals, Mens Legis Cakmakova Advocates is a “very decent and well recommended” firm that provides a full range of legal services to commercial and private local and international clients. Name partner Biljana Cakmakova is also well respected by market observers, one client stating that “she is a well-established lawyer, and the history of the service she provides is very good”. Recently the firm acted as legal advisor to EVN Austria in the tender process for the privatization of ESM Macedonia, a state owned distribution and electricity supply company. The firm, also the legal representative and advisor to Media Development Loan Fund New York, acted for Telecom Slovenije in the takeover process of Skopje information technology company On.net, and provided legal advice to EUBK Holding in a bank acquisition in Macedonia. Other clients include the EBRD, Zveva Bank of Austria, ICN Pharmaceuticals, IBM, Embraer of Brazil, Bombardier Aerospace, Berlioz Consulting, Japan Tobacco Industry, Proctor & Gamble Eastern Europe, Aqua Source, Fuchs Petrolub and Alcatel Services International. The firm has also received referral work from leading international firm Freshfields Bruckhaus Deringer regarding the regulation of the tobacco industry”

2006 Financial and Corporate

• Recommended Firm Tier 1

“Senior partner Biljana Cakmakova runs Mens Legis Cakmakova, overseeing a team of four other partners and four associates. The firm has experience of providing advice on the full range of corporate and commercial matters, and maintains a steady flow of work from a wide range of clients. Among the standout instructions of the past year, the firm acted on the USAid-funded Macedonia corporate governance and company law project, and provided technical assistance in relation to the European Agency for Reconstruction’s Cards programme, specifically in the area of copyright and related rights protection.”

2005 Financial and Corporate

• Recommended Firm Tier 1

“Mens Legis was the first law firm in the Republic of Macedonia, established in 1995. It is recommended for its skilled commercial advice, which it provides to national and international clients. Both partners Ljubica Ruben and Biljana Cakmakova have over 20 years’ experience practicing law, and are recognized leaders in the field. The firm has considerable experience guiding clients through the due diligence process required for the privatization of Macedonian companies. Representative transactions include the share purchase of Stopanska Banka AD Skopje and the purchase of Tutunski Kombinat Skopje by Reemtsma.” Leading lawyers - Biljana Cakmakova”

2012 Corporate and M&A

• Ranked as leading firm in Tier 2

“Recently rebranded Cakmakova Advocates continues to advise on corporate and commercial, banking and finance, and dispute resolution matters. The firm advised Fox International Channels Bulgaria and Italy on IP and competition issues; and the Church of Jesus Christ of the Latter-day Saints on corporate governance, employment and tax issues. Biljana Cakmakova is recommended.”

2010 Corporate and M&A

• Ranked as leading firm in Tier 1

“Mens Legis Cakmakova advocates (MLCA) full - service practice is headed by Biljana Cakmakova and works with international law firms including Linklaters LLP, Wolf Theiss and Freshfields Burckhaus Deringer LLP. The firm has a strong energy practice and Biljana Cakmakova is well known for her employment work. The firm advices mainly regional clients including VIP operator Dooel; but also advices international client such as ICN Pharmaceuticals, EUBK Holdings and Procter & Gamble.”

2009 Corporate and M&A

• Ranked as leading firm in Tier 1

“Mens Legis Cakmakova Advocates is a three-partner firm headed by Biljana Cakmakova, and has a robust practice particularly in major transactional work. The firm advised major Austrian banks on the acquisition of Investbanka Skopje, and worked on the Airports Concession Project in Macedonia. It also advised Duferco in relation to a concession for small hydro power plants (SHPP) in Macedonia, and carried out due diligence in Pharma Swiss DOOEL Skopje, and acted as local legal advisor to EVN in the acquisition of a domestic distribution and supply electricity. Other notable clients include JTI, IBM, McDonald`s Corporation, Teknoxgroup, Procter & Gamble. Olivera Grozdanovska has expertise in labour law and tax.“

2008 Corporate and M&A

• Ranked as leading firm in Tier 1

“Mens Legis Cakmakova Advocates enjoys an excellent reputation for its proven ability to handle major transactional work for international clients. Also now a partnership, name partner Biljana Cakmakova is held in very high regard in the market for her “professionalism” and for her recent work in the energy sector. Recent work of her team includes advising two foreign banks and acquisitions involving Macedonian banks, and acting for Mobilkom Austria AG, the third largest telecommunications provider in Macedonia, in relation to tender procedures relating to its 2007 entry into the Macedonian market, and providing ongoing legal support to VIP Operator, Mobilkom Austria`s Macedonian entity. The firm’s blue-chip client base includes EVN, IMB, Japan Tobacco Industry and BNP Paribas. Partner Vesna Gavrilovska also handles competition and real estate matters, while Olivera Grozdanovska has expertise in employment and tax matters, and Anela Nikolic advises on licensing, franchising, administrative and environmental law. Clients say the firm is strong and arguably the one with the best ability to carry out cross-border transactional work.”

2007 Corporate and M&A

• Ranked as leading firm in Tier 1

“Mens Legis Cakmakova Advocates, the office of Biljana Cakmakova, has been developing a strong place in the market thanks to the excellent reputation of Cakmakova, who has a judicial background and is held in very high regard by her peers. Supported by her team of nine, she advised Austrian energy company EVN on its successful tender to acquire for €225m, and also advised EVN in relation to the privatization of Macedonian Gas Company. In addition, she advised Telecom Slovenia on the acquisition of shares in local telecommunications provider On.net Doo (On.net), and acted for a New York-based bank in relation to the acquisition of Macedonian bank. She also corporate governance expertise and has been advising the IFC.”

Corporate Intl Magazine 2012 Legal Awards

• 2012 Corporate Law Firm of the Year in Macedonia

Corporate Intl Magazine 2010 Legal Awards

• Ranked as leading firm in Tier 1
• Trade & Customs Law Firm of the Year in Macedonia
• Tax Law Firm of the Year in Macedonia
• Real Estate Law Firm of the Year in Macedonia
• Litigation Advisory Firm of the Year in Macedonia
• Insolvency/Bankruptcy Law Firm of the Year in Macedonia
• Energy Law Firm of the Year in Macedonia
• Dispute Resolution Advisory Firm of the Year in Macedonia
• Corporate Governance Law Firm of the Year in Macedonia
• Communications Law Firm of the Year in Macedonia
• Arbitration Advisory Firm of the Year in Macedonia
• Administrative Law Firm of the Year in Macedonia