Harrisons has advised the EBRD on an EUR 8 million loan to the city of Novi Sad for the purchase of up to ten electric buses and the accompanying charging infrastructure.

On September 24, 2021, CEE Legal Matters reported that Karanovic & Partners had announced it entered into an agreement with Gypsy Roma Urban Balkan Beats to provide ongoing pro bono legal support on contracts, scholarships, and copyright matters. CEE In-House Matters spoke with Caroline Roboh, Founder and CEO of Gypsy Roma Urban Balkan Beats (GRUBB), to learn more about the matter.

On 17 November 2021, the National Assembly of the Republic of Serbia adopted the amendments to the Companies Act (“Official Gazette of the RS”, No. 109/2021) (the „Act“) which entered into force on 27 November 2021.

The deadline for preparation of general acts and their obligatory submission to the competent Archive is approaching - December 31, 2021.

Harrisons has advised the EBRD on a RSD 2.3 billion loan to OTP Bank Serbia Novi Sad.

On November 16, 2021, the Law on Amendments to the Law on Procedure of Registration in the Business Registers Agency (Official Gazette of RS no. 105/2021) (the “Law”) has entered into force, while the application of certain provisions has been postponed for the prescribed period.

Former Air Serbia General Counsel Branko Gabric has joined BDK Advokati as Counsel and Head of the Compliance; Investigation Practice.

On 28 October 2021, Energy Agency of the Republic of Serbia (“AERS”) adopted Rules on prevention of abuse in electric energy and natural gas market (“Rules”), that were published in the Official gazette of the Republic of Serbia 103/2021. The Rules are drafted in line with the Decision of Ministerial Council of the Energy Community no. D/2018/10/Mc-EnC, implementing Regulation (EU) No 122712011 of the European Parliament and of the Council on wholesale energy market integrity and transparency.

Bojovic Draskovic Popovic & Partners has advised Titan European Holdings on the sale of 100% of its shares in Titan Machinery d.o.o. Novi Sad to Agromarket d.o.o. Kragujevac. 

Serbia has a long-standing tradition in the protection of intellectual property rights. The Kingdom of Serbia was even one of the first 11 signatories of the Paris Convention in 1883.

On October 25, 2021, CEE Legal Matters reported that Karanovic & Partners had advised the Innovation Fund of the Republic of Serbia (IF) on launching the Katapult start-up accelerator in Serbia. CEE In-House Matters spoke with Mladjan Stojanovic, Program Manager at the Innovation Fund, to learn more about the matter.

On November 16, 2021, amendments to the Law on Free Access to the Information of Public Importance (the “Law”) entered into force, as they had been published in the Official Gazette of the RS no. 105/2021 of November 8, 2021, whereby they were passed for the purpose of alignment with relevant regulations adopted in the meantime, such as the Law on Data Secrecy and the Law on Personal Data Protection, and international standards in the respective field, as well as introduction of mechanisms to ensure that the authorities act in accordance with their legal duties, and that information seekers enact their rights under the Law exclusively for the purposes stipulated therein.

In 2020 and 2021 there were no developments towards the adoption of the new law and bylaws regarding competition/antirust (a process that started in 2017), probably due to the coronavirus pandemic. Certain changes in respect to the enforcement of competition rules were introduced during 2020, due to COVID-19, such as a new manner of communicating with the Serbian Competition Commission, a prolongation of the deadlines during the state of emergency in Serbia, etc. However, all subject changes have been put out of force and are being restored to the state prior to COVID-19.

Karanovic & Partners Head of Real Estate Ana Lukovic has been appointed as a Partner with the firm.

Karanovic & Partners, working with Corrs Chambers Westgarth, has advised Volt Resources Limited on its acquisition of the entire issued share capital of Asena Investments Beograd-Stari Grad.

Andrejic & Partners has assisted Israel-based attorney Lior Dagan as the insolvency trustee appointed to Michael David Greenfield in the takeover process of EGFE Hungary.

Radovanovic Stojanovic & Partners has advised the Soravia Group on the sale of the New Mill office building located in Belgrade, Serbia. 

The Government of Serbia has recently adopted the Proposal for Amendments to the Companies Law (the “Proposal”), which official text states that its primary goal is to promote the protection of minority shareholders, in accordance with measures provided by the Action Plan of the Program for Improvement of Position of the Republic of Serbia on the World Bank’s Business List – Doing Business for the period 2020-2023. In addition, the respective novelties imply other changes as well, the most significant being those referring to the position of entrepreneurs, and court protection in case of business address abuse.