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The Serbian Parliament has recently adopted amendments to the Criminal Code. The amendments include a significant overhaul of the legal framework for white collar crimes, touching upon the rules relevant for antitrust enforcement as well.

The new Serbian Housing Act is a long-awaited codification of all the statutes pertaining to housing. The Building Maintenance Act and Housing Act were passed in its original texts more than two decades ago, and were rendered obsolete by the changes in society and economics climate. But the big question is – will there be enough funds for carrying out all the ideas laid out by the legislators?

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.

After years of continued negative trend, Belgrade Stock Exchange (BELEX) recorded a positive turnover of 75% in 2016. As this is the second straight year in which BELEX recorded a growth, it is valid to claim that a new era for BELEX is around the corner.

There are different ways to acquire a majority stake in a joint stock company, and each of them has its particularities, pros and cons. However, notwithstanding the specific acquisition method, each process requires the undergoing of stringent procedures by the acquirer, which can often be lengthy and complicated, involving dealing with various minority shareholder issues and rigid supervision by regulators.

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.

Changes to existing Serbian public procurement framework are expected in 2017, as it was announced by the Serbian Public procurement office. The main motive for amendments is the harmonization of the existing public procurement framework in Serbia with EU Directive 2014/24/EU on public procurement, which features the principle of “most economically advantageous tender” (the “MEAT” criteria) as the main selection criteria. The MEAT criteria shall now gain a prominent place in the Serbian public procurement procedure, too.

To the untrained eye, technology and the judiciary sector may seem rather far apart. IT is ever changing and dynamic, while courts are by design deliberate and slow. However, even the most resistant institutions are not immune to change; Serbian courts now appear to be further steps towards incorporating new technology for the ultimate goal of greater efficiency.

Harrison Solicitors has advised the Yazaki Corporation on the investment agreement it signed with the Government of the Republic of Serbia, to produce cable kits for Daimler trucks in the Serbian town of Sabac. The first stage of the investment will amount to EUR 25.1 million and employ 1,700 workers.

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Karanovic & Partners is a regional legal practice in Southeast Europe with tradition spanning two decades and cooperating offices in Serbia, Croatia, Slovenia, Montenegro, Macedonia and Bosnia & Herzegovina. With more than 100 attorneys at law cooperating across the region, we take pride in our work, dedication and understanding of our clients' industries and needs.

What we do

We work with some of the most respected and reputable businesses in the world, banks, as well as governments, state-owned entities, startups and NGOs. We see our clients as long-term partners.

We focus on straightforward solutions and tailor-made advice. Lawyers cooperating with us are fully immersed in our clients’ culture and industry to ensure that the work is delivered intelligently and reliably.

What sets us apart?

In our company culture, excellence is a must. We are reliable, adaptive and fast.

Karanovic & Partners operates under the “one team” principle, combining our regional reach and local know-how to deliver coordinated legal advice necessary for achieving our clients’ goals.

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