On May 24, 2023, PRK Partners announced that Yokohama Rubber’s acquisition of Trelleborg Wheel Systems (reported by CEE Legal Matters on April 13, 2022) had closed.
Serbian Competition Authority Initiates New Antitrust Investigation – Potential Bid Rigging
The Commission for Protection of Competition of Serbia (the “Commission”) announced on 3 May 2023 that it initiated an antitrust investigation against the companies KTG Solucije d.o.o. Subotica and Eco Sense d.o.o. Subotica due to alleged restrictive agreement – colluding in public procurement procedures (bid rigging).
Capital Markets in Serbia
Contributed by Karanovic & Partners.
Serbia Welcomes IT, Pharma, and Energy Investments: A Buzz Interview with Vladimir Bojanovic of Bojanovic & Partners
Serbia seems to rank highly on the destination lists of foreign investors – as the country has been experiencing an uptick in M&A and the arrival of new players – with IT, pharmaceuticals, and energy being among the sectors seeing significant growth, according to Bojanovic & Partners Managing Partner Vladimir Bojanovic.
Abuse of Dominance in Focus – New EU Guidelines Announced
The European Commission launched a Call for Evidence, which entails asking for feedback from the business community and the general public on adopting new Guidelines on exclusionary abuses of dominance.
Incorporation of Companies in Serbia Will be Carried out Electronically
With the latest amendments to the Law on Registration Procedure in the Business Registers Agency, another step has been taken on the digitization of public administration.
Women’s Representation and Participation in the Modern Business World – the Example of the Republic of Serbia
The participation of women in business is not only a matter of gender equality and social justice but is also a crucial prerequisite for sustainable economic growth and social progress, particularly in the face of the multiple challenges that humanity is currently confronting. The inclusion of women in business reduces unemployment and ensures greater economic growth, which is of particular importance for countries in transition, such as the Republic of Serbia.
Guidelines on Data Protection In Proceedings Before the Commission for the Protection of Competition Have Been Published
At the 120th session held on 7 April 2023, the Council of the Commission for Protection of Competition issued an Instruction on the content and method of submitting a request for imposing data protection measure (“Instructions“), which specifies in more detail the content and method of submitting a request for imposing a measure of protection of data source and/or certain data, in accordance with the Law on the Protection of Competition (“Law“).
A Closer Look: Zivkovic Samardzic's Igor Zivkovski on the Fifth Quarter Ventures Alternative Investment Fund in Serbia
On May 2, 2023, CEE Legal Matters reported that Zivkovic Samardzic had advised Fifth Quarter Ventures on the legal process for becoming an alternative investment fund in Serbia. CEELM reached out to Zivkovic Samardzic Partner Igor Zivkovski to learn more about the matter.
BDK Advokati Advises on Sale of Integrator to Meritus
BDK Advokati has advised Integrator majority shareholder Aleksandar Hangiman on the sale of the company to Meritus. Mamic Peric Reberski Rimac reportedly advised Meritus.
Serbian Business Registers Agency Introduces Electronic Registration with the Registry of Bidders
An administrative novelty comes early this year from the Serbian Business Registers Agency (“SBRA”) by introducing electronic registration with the Registry of Bidders.
AI and Competition Law: Threat or Solution
With technological advancements changing both how antitrust laws are enforced and how undertakings violate competition laws, the fourth industrial revolution and the rapid growth of AI continue to affect this area of law, as many others. It is impossible to ignore the potential for AI to conquer markets and its ability to spot and fix basic market balance violations. Despite the benefits of technology for customers, it also threatens their interests by distorting market dynamics and impacting competition.
Arm’s Length Interest Rates for 2023 Published in Serbia
Serbian Minister of Finance issued the Rulebook on interest rates that are considered to be in line with the arm’s length principle for the year 2023 (the Rulebook), which enters into force on 6 April 2023.
A Bid-Rigging in Public Procurement Proceedings
The Serbian Competition Commission initiated an infringement investigation. On 20 April 2023, the Commission for the Protection of the Competition (“Commission”) initiated one more infringement investigation and carried out a dawn raid, this time against KTG Solucije d.o.o. Subotica (“KTG”) and Eco-Sense doo Subotica (“Eco Sense”) for possible RPM (resale price maintenance) and sharing of markets or source of supply in public procurement proceedings related to the materials and means for maintaining hygiene in facilities.
Mandatory Submission of the Incorporation Application in Electronic Form for the Companies
The Ministry of Commerce of the Republic of Serbia has announced that the applications regarding the incorporation of companies (among others, limited liability companies and joint stock companies) can be submitted only in electronic form as of 18 May 2023 via a designated user application of the Serbian Business Registers Agency (“SBRA”).
Milica Pesteric, Milos Andrejevic, and Stefan Golubovic Make Partner at BD2P
Bojovic, Draskovic, Popovic & Partners Senior Associates Milica Pesteric, Milos Andrejevic, and Stefan Golubovic have been promoted to Partner.
Tax Incentives for Research and Development
Recent years have seen the amendment of multiple tax regulations that have introduced numerous incentives for a variety of taxpayers. These tax breaks have made Serbia a highly attractive country for foreign investment, which has in turn led to the development of a start-up ecosystem, job creation and more benefits for employees, and growth in several industries, most notably information technology (IT).
The Debrief: May 2023
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.