Karanovic & Partners has advised the Green for Growth Fund on extending its RSD 1.7 billion loan facility with UniCredit Bank Serbia.

Amendments to the Law on Patents (the “Law”) entered into force on December 23, 2021, upon publication in the Official Gazette of RS no. 123/2021 as of December 15, 2021. The amendments were initially enacted for alignment of the Law with the EU regulations on intellectual property, as well as for elimination of certain deficiencies observed in its application.

Head of BDK Advokati’s Payment Services practice Dragoljub Sretenovic has been promoted to Partner.

Pursuant to the Law on utilization of renewable energy sources (“Official gazette of the RS” no. 40/2021, “Law on RES”), Government of the Republic of Serbia has in November 2021 adopted two new regulations: i) the Regulation on Market Premium and Feed-In Tariff and ii) the Regulation on Market Premium Model Agreement.

The end of 2021 has marked adoption of the new Law on Capital Market (the “Law”) in Serbia, which was published on 28 December 2021. The Law was adopted in line with the recently enacted Strategy for Development of the Capital Market for the period 2021-2026 and within a wider process of accession of Serbia to the EU.

NKO Partners has advised CTP on its acquisition of 5 hectares of land in Kragujevac from Forma Ideale intended for the expansion of CTPark Kragujevac, a logistics park occupied by Yanfeng Automotive Interiors.

On December 17, 2021, amendments to the Customs Law published in the Official Gazette of RS no. 118/2021 as of December 9, 2021 (the “Law”) entered into force. Outlined below is an overview of the key novelties, that were notably enacted for alignment with the changes introduced in the EU customs regulations.

On November 3, 2021, CEE Legal Matters reported that Karanovic & Partners had advised ElevenEs on partnering with EIT InnoEnergy to build a lithium iron phosphate (LFP) battery factory in Subotica, Serbia. CEE In-House Matters spoke with Nemanja Mikac, CEO at ElevenEs, to learn more about the matter.

Zivkovic Samardzic has advised Serbian Bookers on its partnership with OTA Sync.

Ljubinka Pljevaljcic has been promoted to Partner at Doklestic, Repic & Gajin.

NKO Partners has advised the Dr. Max Group on its acquisition of Serbian pharmacy chain Zlatni Lav. Bojovic Draskovic Popovic & Partners advised the seller.

Contributed by BDK Advokati.

Even though changes could be in the pipeline for Serbia given the upcoming April 2022 presidential and parliamentary elections, the central Balkan country is in a state of stability and steady advancement, according to Radovanovic Stojanovic & Partners Partner Sasa Stojanovic.

NKO Partners has advised CTP on the acquisition of land from the City of Novi Sad.

Karanovic & Partners has appointed Bojana Miljanovic Hussey as Partner.

CMS has advised UK-based Hystead Limited on its sale of the Delta City shopping mall in Belgrade, Serbia, to MPC Properties for EUR 115 million. Samardzic, Oreski, & Grbovic advised MPC Properties on the deal. 

Serbian law firm Matkovic & Partners has announced it opened an office in Freetown, Sierra Leone.

On 19 November 2021 the Parliament of the Republic of Serbia enacted yet another amendment to the Company Law. This is the seventh change of this piece of legislation in its 10 year long legal life. We focus here on the two which may have far-reaching consequences to the landscape of limited liability companies (LLC) in Serbia.