The Serbian parliament has adopted new amendments to the Law on Planning and Construction (“Construction Law”), introducing a series of novelties expected to significantly impact the construction industry, urban planning, and energy efficiency.

On Friday 21 July 2023, the Albanian Parliament adopted a law which legalizes medical cannabis and industrial hemp (“Cannabis Law”). The Cannabis Law allows licensed companies to cultivate and process cannabis and determines the criteria which must be met to obtain such a permit, but also regulates the cultivation process of the plant and the production of its by-products for medical and industrial purposes.

Karanovic & Partners has advised the OTP Group on its acquisition of the Ilirika Fund Management Company in Serbia.

In the long-awaited aftermath of the havoc caused by the CJEU’s decision (adopted in 2020 in the famous Schrems II case) to invalidate the previously existing EU-US Privacy Shield Framework, the European Commission adopted the adequacy decision promoting the new EU-US Data Privacy Framework (the “Framework”) on 10 July 2023.

Moravcevic, Vojnovic, and Partners in cooperation with Schoenherr has advised OTP Group members OTP Bank Plc Hungary and OTP Bank Serbia on project financing for Pannonia Bio. Karanovic and Partners advised Pannonia Bio.

On 10 July 2023, the Agency for the Protection of Competition of Montenegro initiated a proceeding against the Association of Tourist Agencies of Montenegro for an alleged breach of the Competition Law.

The Public Enterprise for State Roads of North Macedonia (“PESR”) published an invitation for prequalification (“Invitation for Prequalification”) for works for the construction of a 10.5 km long sub–section of the TEN-T Route 6 Motorway (“Project”).

Ilej & Partners in cooperation with Karanovic & Partners has advised the Media Development Investment Fund and Pluralis on their acquisition of a minority stake in Croatia's Telegram Media Grupa. Batarelo Dvojkovic Vuchetich advised Telegram Media Grupa.

On 30 June 2023, the web portal for freelancers operated by the Tax Administration was launched. 

ODI Law has advised Makedonski Telekom Skopje on insourcing 150 employees from the Macedonian subsidiary of Ericsson. Karanovic & Partners advised Ericsson.

Karanovic & Partners has advised Marriott International on the development and opening of its first Moxy hotel in Belgrade, Serbia.

Komnenic & Partners has advised Novi Volvox, Leitner, and Zicara Kotor-Lovcen DOO on the financing for the Kotor-Lovcen cable car project from OTP Bank. Karanovic & Partners advised OTP Bank through its CKB Bank subsidiary.

The Ministry of Mining and Energy of the Republic of Serbia published the public call for auctions for awarding of market premiums (in the form of CfD) for wind and solar projects earlier today (Wednesday, 14 June 2023).

A significant number of landmark energy and infrastructure projects are currently materializing in North Macedonia, with foreign direct investment interest constantly growing as well, according to Veton Qoku, Partner and Attorney-at-Law in cooperation with Karanovic & Partners.

The Public Enterprise for Railway Infrastructure Railways of the Republic of North Macedonia – Skopje has published a contract notice for project implementation support and safeguard services for the construction of a new railway section from Kriva Palanka to the border with the Republic of Bulgaria (“Project”). The 24 km section is the last part – the third phase of the railway Corridor VIII to the Republic of Bulgaria.

In accordance with the 2021 amendments to the Law on Companies, delivery of electronic documents to Serbian companies shall be performed to the registered mail on the e-government portal (eUprava).

Contributed by Karanovic & Partners.

Contributed by Ilej & Partners in cooperation with Karanovic & Partners.