Milan Lomic is the General Counsel Adria & Balkan at L’Oreal, a company that he joined in October 2012. Prior to that he worked for Metro Cash & Carry as a Legal Advisor and Antitrust Officer. He has also worked as a Legal Advisor at Unicredit Bank Serbia and as an Assistant to the Judge at the Fifth Municipal Court in Belgrade.
The Serbian Market
There was some disagreement about the state of the Serbian economy, perhaps based on the report by Tijana Kojovic, Managing Partner of BDK Advokati, that, in Serbia, “it is risky to make economic projections” since the market is not always fully transparent and, as a result, it is not always easy to see trends developing.
Schoenherr is reporting that, on September 30, 2016, Michael Lagler was elected as the new Managing Partner at the firm, where he will take over from Christoph Lindinger, who has led the Central and Eastern European law firm for the past 16 years. Lagler's term will begin at the start of the firm’s next fiscal year, on February 1, 2017.
"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.
NSTLaw and BDO have advised Copper Mining and Smelting Complex Bor (the "RTB Bor Group") on the largest pre-packaged restructuring plan in Serbian history. According to NSTLaw, the commercial court in Zajecar, Serbia, adopted the PPRP involving the four companies of RTB Bor, with a value of restructured debt exceeding EUR 1.2 billion.
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.
On 11 July 2016, The National Bank of Serbia adopted amendments to three by-laws of the Law on Banks (Risk Management Decision, Decision on the Classification of Bank Balance Sheet Assets and Off-balance Sheet Items and the Decision on Reporting Requirements for Banks), and in doing so, took a significant step towards effectuating the implementation of the strategies on resolving non-performing loans and the action plan rendered by the Government of the Republic of Serbia and the National Bank of Serbia in cooperation with the IMF, World Bank and EBRD – adopted at the end of last year.
The Negotiation Chapter 23 (hereinafter: “Chapter 23”) for Serbia’s accession to the European Union was finally opened on 18 July 2016. This Chapter is part of the acquis communautaire and it is dedicated to the Judiciary and Fundamental Rights, which is strongly related to the issue of consistency of courts’ practice in Serbia.