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On 27 July 2020 the National Bank of Serbia (“NBS”) adopted further decisions concerning emergency measures to facilitate the position of citizens and businesses in servicing debt towards local banks and financial leasing companies in times of the prolonged Covid-19 pandemic crisis, specifically:

Companies around the globe are having to make urgent decisions to keep their employees safe and ensure business continuity in the midst of the COVID-19 outbreak. In order to fulfil these goals, companies need to find the right balance between providing a safe working environment and respecting their employees’ privacy, which can prove to be quite difficult in practice.

On 16 July 2020, Court of Justice of the European Union (“CJEU”) has rendered a landmark decision declaring the Decision 2016/1250 of the European Commission on the adequacy of the protection provided by the EU-US Data Protection Shield (“Privacy Shield Framework”) invalid with the immediate effect. This decision has caused a major shift in the way in which personal data may be transferred to the United States of America. However, the scope of the decision is far broader and includes far more restrictions than it may appear at first glance.

Jankovic Popovic Mitic has advised French multinational company C.D Holding Internationale SAS on its EUR 5 million acquisition of an additional stake in Emergo Sport d.o.o., the Serbian subsidiary of Fitpass Limited. Fitpass was advised by Bojovic, Draskovic, Popovic, and Partners. 

NKO Partners has advised CTP on financing of EUR 13.5 million from the EBRD for real estate project development in Serbia. CMS advised the EBRD on the transaction.

Over the past few years CMS advised the OTP Bank Group on an extensive series of acquisitions across Bulgaria, Moldova, and former Yugoslavia. This series of separate deals was shortlisted for CEE Legal Matters’ CEE Deal of the Year in each of the countries involved, actually winning the 2018 Deal of the Year for Bulgaria and the 2019 Deal of the Year Award for Montenegro. We reached out to Eva Talmacsi, who led CMS’s multi-jurisdictional team, to learn more about the firm’s impressive work on OTP’s behalf.

The Law on Central Register of Mandatory Social Insurance (“ZOCROSO”) was amended at the end of 2019 and the most important novelty was the extension of deadline for employers to adjust to the Decision on single codebook for entry and codification of information in databases in the field of labour, enacted in 2018 (“the Decision“).

In January 2020, the Serbian Commission for Protection of Competition (“Commission”) initiated investigations against Imlek and Apatinska Pivara which are two leading national dairy and beer producers, and against a number of retailers, including Metro Cash & Carry and Veropoulos, for allegedly employing resale price maintenance (“RPM”) agreements to restrict intra-brand competition.

The Law on fees for the use of public goods (“the Law“) prescribes an obligation for legal entities and entrepreneurs that are deemed to have negative environmental impact to pay the fees for protection and improvement of the environment (“Eco-fee“).

The Rulebook on preventive measures for safe and healthy work to prevent the occurrence and spread of an epidemic of infectious diseases (the “Rulebook”) was adopted on 29 June 2020. The Rulebook closely regulates preventive measures that employers are obliged to apply in order to prevent the occurrence and spread of infectious diseases and eliminate the risks for safe and healthy work of employees, as well as persons found in the work environment, when the competent authority declares an epidemic of infectious diseases.

In accordance with the Law on Health and Safety at Work, the Ministry of Labour, Employment, Veteran and Social Affairs passed a Rulebook on preventive measures for safe and healthy work for prevention of onset and spreading of epidemic of communicable disease (“the Rulebook”), published in the Official Gazette of RS no. 94/2020 on 3 July 2020 that will enter into force on 11 July 2020.

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The oldest full service commercial law firm in Serbia, founded in 1991, JPM with three decades of experience in assisting local and international businesses presence and growth not only in Serbia but throughout the SEE region.

We have accumulated a wealth of knowledge in every industrial and corporate sector, from energy to banking, transport, manufacturing and telecommunications, while remaining true to a pioneering spirit that has always drawn us to follow the latest trends and developments in providing of our services to clients. Today we use the latest legal tech available in serving our clients and are expanding our services to clients from growing industries such as renewable energy, IT and life sciences, by offering innovative solutions and a pro-active approach to broaching new grounds.

Our expertise, experience, and commitment to professional excellence mean we are routinely involved in landmark cases and transactions, while our high standing among clients and peers sees us ranked among the leading law firms by independent guides such as Chambers & Partners, Legal 500, and IFLR1000.

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