JPM Jankovic Popovic Mitic has announced that Lidija Pejcinovic has been promoted from Senior Associate to Partner at the firm.
In late December 2016, the Government of Serbia passed the new Decree on Terms and Conditions for Attracting Direct Investments. The Decree supplements the Law on Investments (2015), regulating in finer detail criteria, conditions and means of attracting direct investments, in particular granting of State incentive funds for investment projects.
BDK Advokati has advised Iron Mountain, the NYSE-listed storage and information management company, on its acquisition of Data Outsourcing Centre d.o.o., a prominent Serbian archive management, imaging services, and data storage company, from sellers Sinisa Tutus and Milan Mojic. JPM Jankovic Popovic Mitic advised the sellers on the deal.
On September 24 the Belgrade Bar adopted a new bylaw, controversial both in its effect and in the manner by which it was adopted, limiting the voting and participation rights of lawyers at major commercial law firms in favor of criminal lawyers and solo practitioners. Leading commercial lawyers in Belgrade are, unsurprisingly, not happy.
All economic indicators in the Republic of Serbia have directly depended on foreign direct investments which has been clearly visible in the past fifteen years. At the time of the initial opening of the Serbian market, in the early 2000s, the investors' goal was to secure a good starting position in the market.
Rojs, Peljhan, Prelesnik & Partners (RPPP) has advised Enterprise Investors on the acquisition by the Polish Enterprise Fund VII, which it manages, of 100% of shares in sporting good retailer Intersport ISI in a carve-out transaction from Mercator Group. According to RPPP, "the value of the transaction is up to EUR 34.5 million and the transaction transaction is conditional upon obtaining customary regulatory approvals." RPPP — a member of the TLA alliance — reports that "all other TLA law firms from the region, including JPM Jankovic Popovic Mitic from Serbia, Tkalcic-Djulic, Prebanic, Rizvic and Jusufbasic-Goloman from Bosnia and Herzegovina, and Debarliev, Dameski & Kelesoska from Macedonia" were involved as well. Slovenia’s Jadek & Pensa and Serbia’s Prica & Partners advised Mercator on the transaction.
"We simply don’t want to see a Bar that is owned by a handful of firms," was the explanation offered by Aleksandar Cvejic, Board Member and Secretary of the Board of the Belgrade Bar Association in support of the controversial draft bylaws submitted for a vote at the upcoming assembly of the Belgrade Bar on September 24, 2016.
The Government of the Republic of Serbia enacted a new package of energy-related bylaws in June 2016, which, inter alia, regulate acquiring the status of privileged power producer and temporary privileged power producer, incentives granted to privileged power producers and the content of power purchase agreements between guaranteed suppliers and privileged power producers.
The new Law on General Administrative Procedure ("Official Gazette of RS" No. 18/2016), enacted on February 29, 2016, entered into force on March 9, 2016 ("the Law"). The Law will be applied from July 1, 2017, except for certain provision that will start being applied 90 days after the Law enters into force, i.e. from June 7, 2016.