The amendments to the Law on Foreign Exchange came into force on 25 May 2011. Capital transactions Financial derivatives are now classified as “capital transactions.” All other issues relevant for transactions with financial derivatives have been left to be regulated by the National Bank of Serbia (“NBS”). The NBS should prescribe the conditions for “payments, collection, […]
BDK advised the Bank of Moscow in relation to a credit facility arrangement with the Serbian state-owned company Srbijagas. This is the second loan extended by this bank to Srbijagas in the past year. Vladimir Dašić was BDK’s responsible partner.
The new Serbian Law on Civil Proceedings, which was enacted in September, will become applicable on 1 February 2012. This new piece of legislation represents an effort to curtail notoriously long litigations. However, as the rules of procedure are only partly to blame for the inefficiency of the Serbian civil courts, it remains to be […]
The United Nations Conference on Trade and Development (“UNCTAD”) has published its report on Voluntary Peer Review of Competition Policy in Serbia. Apart from analyzing the current state of the competition law in Serbia, the review proposes certain changes with the aim of bringing Serbian competition law closer to EU standards. The proposals include abolishing criminal […]
According to the new Law on Gender Equality, which will come into force on 25 December 2010, employers having more than 50 permanent employees will be obliged each year to adopt an annual plan on gender equality by 31 January. Furthermore, the employers will have to prepare a report on implementation of the plan for […]
11 November 2010: Tijana Kojović, partner in BDK, participated at the IBA Balkan Legal Forum in Sofia, where she gave a presentation on recent developments in Serbian I&R law. Co-speakers at the panel, moderated by Steven Revel from Freshfields Bruckhaus Deringer LL.P, were distinguished I&R practitioners from Bulgaria, Hungary, Romania and Poland.
The Constitutional Court of Serbia recently published the Rulingdeclaring the formation of a JV company between one Serbian municipality and a private investor contrary to law. According to the Ruling, Serbian municipalities are only permitted to set-up 100% state-owned companies for performance of municipal services or to delegate performance of such services to a fully […]
The recent amendments to the Montenegrin rules regulating OTC trading with securities 1 (the “ Amendments ”) limit the freedom of parties to determine purchase price in an OTC transaction, by prescribing that the purchase price of a share package sold over – the – counter has to be per share equal to the weighted […]
Dragoljub Cibulić, partner at BDK, presented the regulatory framework applicable to PPP’s in the Serbian power sector to the senior executives of Elektroprivreda Srbije and the representatives of the Serbian Ministry of Mining and Energy. The event was organized by IFC and the State Secretariat for Economic Affairs of Switzerland. You can download Dragoljub’s presentation here.
In a litigation in which BDK represented the seller defending itself from a claim for termination of a series of real estate sale and purchase pre-agreements based on changed circumstances, the Montenegrin Appellate Court confirmed the first instance judgment which denied the claim, holding that the alleged world financial crisis does not amount to changed […]
