One of the new possibilities introduced by the new Serbian General Administrative Procedure Act is an administrative guarantee. It is a statement issued by an authority that it will issue an administrative act at the request of a party. By issuing an administrative guarantee, the authority guarantees that the act issued will have a precisely defined content.
On 22 September 2017 the public debate on the proposed amendments to the Serbian Companies Act (hereinafter: the “Act“) was initiated. The changes of the Act are expected to create conditions for further development of the concept of e-government, and are mainly focused on expediting the process of company registration and creating space for further europeanization of business environment in Serbia upon accession to the EU.
The Appellate Court in Belgrade has granted the appeal of Serbian business magnate Miroslav Miskovic made by his counsel, including JPM Senior Partner Nenad Popovic, and reversed the decision of the Higher Court in Belgrade (Organized Crime Unit), clearing Miskovic of charges of abuse of office and reversing a guilty verdict against him on tax evasion charges.
4th and 5th of October 2017 in Casablanca, Morocco
Karanovic & Nikolic has advised the Belgian renewable energy group Elicio NV on the EUR 9.8 million financing its wholly-owned subsidiary Electrawinds Mali WF d.o.o. received from UniCredit Bank Serbia for the development, construction, and operation of the Malibunar wind park.
Karanovic & Nikolic has announced that former Peterka & Partners Partner Alexander Poels joined it on September 1, 2017 as Partner and Director of International Relations.
Karanovic & Nikolic has advised Bulgaria's River Styxx Capital investment fund on the acquisition of 85% of the shares in Telenor Banka. Moravcevic Vojnovic and Partners in cooperation with Schoenherr) advised Telenor on the transaction, which sees the Norwegian telecommunications group keeping 15% of its shares in the online bank.
Zivkovic Samardzic has advised the shareholders of Tim Kolos d.o.o, the Belgrade-based facility management, construction, and installation services provider, on the sale of 55% of shares in the company to Samsic Holding dejavnost holdingov d.o.o, the Slovenian member of French Samsic Group. Moravcevic Vojnovic and Partners in cooperation with Schoenherr advised the buyers on the deal.