In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas. 

The Future Is Here! And it is here to stay. What we could only imagine some years ago is now part of our reality, and AI has become an ever-present topic. AI is everywhere, from banking and healthcare to transportation and entertainment.

Zivkovic Samardzic has advised Fifth Quarter Ventures on the legal process for becoming an alternative investment fund in Serbia.

Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.

On 24 March 2023, the Commission for the Protection of the Competition (“Commission”) initiated an investigation against the Hotelsko, Ugostiteljsko i Turisticko preduzece Moskva doo (“Moskva”) for possible gun-jumping.

Artificial intelligence (AI) is set to change how we perceive intellectual property.  With the recent surge of AI, people are discovering that AI can generate works of art.  This raises important questions, such as the attribution of authorship for these creations and the protection of intellectual property (IP) rights.

Andrejic & Partners has advised Booking on offering insurance services in Serbia.

Former Senior Counsel Ivana Rackovic has been promoted to Partner at Karanovic & Partners.

As mentioned in one of our previous articles (available here), the application of amendments to the Law on Personal Income Tax, which were published in the Official Gazette of RS no. 138/2022 of 12 December 2022 and which stipulate that the annual personal income tax shall be paid by self-taxation and not on the basis of the decision rendered by the competent tax authority, which was the case so far, commenced on 1 January 2023.

On 23 March 2023, the Serbian government adopted Ethics Guidelines for the Development, Implementation and Use of Reliable and Responsible AI ("Guidelines"), which may be seen as yet another step in the process of harmonising Serbia's legislative framework with the European Union, following the Proposal for an AI Regulation announced by the EU Commission two years ago.

On Tuesday, the EU Parliament unleashed a legislative game-changer in the global climate battle, adopting the world’s first carbon border tax (CBAM). The MEPs also formally adopted the deals reached with the Council in December 2022 on several other critical pieces of legislation, including the closely-related revised EU’s Emissions Trading System (“EU ETS“) and a new Social Climate Fund (“SCF“), all a vital part of the EU’s Fit for 55 package, designed to help the bloc cut greenhouse-gas emissions by 55 percent by 2030 against a 1990 baseline.

Andrejic & Partners has advised Villa & Spa Stevic on submitting its successful application to the EU for Cultural Heritage and Tourism project.

BDK Advokati has advised the Abu Dhabi Capital Group on its sale of The Capital Plaza in Podgorica to BIG Shopping Centers. Karanovic & Partners advised the buyer.

Remote work has become widespread in Serbia – and dominant in industries like IT – while the country is facing both layoffs and a shortage of workers, depending on the sector, according to NKO Partners Partner Danica Milic.

NKO Partners has advised CTP on the acquisition of Jagodina land intended for industrial development from the City of Jagodina, acting through its local government representatives.

Moravcevic, Vojnovic, and Partners in cooperation with Schoenherr has advised the owner of the Adriatic Bank Podgorica on the acquisition of Expobank Belgrade. BDK Advokati advised the shareholders of Expobank Belgrade.

A new promotion round saw 62 lawyers become Partners at CMS – spanning 25 cities across the UK, Europe, the Middle East, Africa, and Latin America – including Arno Zimmermann, Hans Lederer, and Klaus Pateter in Vienna, Alicja Zalewska-Orabona in Warsaw, and Mihai Jiganie-Serban in Bucharest.

The answer is simple: to make EU membership top priority, to form the team with the capacity to drive and stay on the train until the final destination. But it is not only important for the team to have only the Loco pilot only to drive the train, the team must have other members with the understanding who is in the train, the train route both in Serbia and EU and who share strong belief that the final destination will bring the benefits not only to the country of the departure (passengers) but also to the countries and citizens of  the destination. If something is missing in that chain, it may happen that the Loco pilot may drive the train via Antarctica to EU with the possibility that the train may get stuck somewhere on the route and may never reach its final destination.