Newsroom

July, 2020

COVID-19 Serbia Update

National Bank of Serbia Further Regulates Moratorium on Loans and Leasing due to COVID-19 Outbreak

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: Decision on temporary measures for banks with the aim to protect the stability of […]

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July, 2020

Supporting International Legal Expert Team Engaged by EBRD in Armenia

Karanovic & Partners to Advise on Improvement of Renewables Legal Framework

Petar Mitrović, Partner*, will be a part of an international team of experts contracted by the EBRD to assist the Armenian authorities to improve the institutional and regulatory framework for small-scale renewable energy in the commercial sector.   *independent Attorney at Law in cooperation with Karanovic & Partners

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July, 2020

Karanovic & Partners Promotion Announcement

Milena Pejović Promoted to a Partner

Karanovic & Partners is pleased to announce that Milena Pejović is promoted to a Partner*. Milena is the head of our Montenegrin practice. With vast experience in corporate and commercial legal advisory, Milena advises clients on corporate and commercial legal matters and also focuses on banking and finance, taxation, and employment matters as well as […]

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July, 2020

EU – US Privacy Shield Abolished

CJEU Annuls the EU-US Privacy Shield – is Serbia Affected?

On 16 July 2020, the Court of Justice of the European Union (CJEU) has surprisingly annulled the EU-US Privacy Shield, the data transfer mechanism frequently used by EU companies for transferring data to the US. The case originated from Max Schrems’ complaint filed before the Irish Data Protection Authority in 2015, challenging Facebook’s data transfers […]

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July, 2020

Apple Wins Appeal Against European Commission’s Decision

Apple Avoids Returning EUR 13 Billion Tax Bill as Allegedly Incompatible State Aid

On 15 July 2020, the General Court of the European Union overturned the European Commission’s decision that ordered Apple to pay a record EUR 13 billion in back taxes to the Irish government. This judgement represents a great victory for the U.S. tech giant and a big blow to the bloc’s crackdown on “sweetheart deals” […]

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July, 2020

Another Award for “Belgrade Energy from Waste Project”

Vinča Waste Project Named as IJ Global European Waste Deal of the Year

Karanović and Partners is pleased to announce that Vinča waste project received a recognition from IJ Global as European Waste Deal of the Year. “Belgrade Energy from Waste Project” is the biggest PPP project in Serbia for the landfill remediation. Karanović & Partners advised the International Finance Corporation and the City of Belgrade in the […]

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July, 2020

Bosnia and Herzegovina Update

Bosnia And Herzegovina No Longer on The EU List of High-Risk Countries for Money Laundering and Terrorist Financing

Good news for Bosnia and Herzegovina – as of 9 July 2020 the country is officially not on the EU list of high-risk third countries that have strategic deficiencies in the regime of preventing money laundering and combating terrorist financing, which represent a significant threat to the Union’s financial system. The Fourth European Union Money […]

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July, 2020

KATS & Karanovic & Partners Joint Webinar

Impact of Regulation on Tech Companies

Katende Ssempebwa Technology (KATS) and Karanovic & Partners and cooperating lawyers involved in k://lab project held a webinar on impact of regulation on tech companies, covering topics such as cyber security, GDPR, data protection and many more. The webinar was held on Wednesday, 15 July and initiated a robust discussion on data protection law, the […]

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July, 2020

Legislation Update – Serbia

New Regulation on Preventive Measures for Safe and Healthy Work

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 […]

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July, 2020

Legislation Update - Montenegro

New Law on Business Organisations in Montenegro Entered into Force

The new Montenegrin Law on Business Organisations (in further text the “Law”) entered into force today. The reason for establishing the Law is directly related to the process of Montenegro’s accession to the European Union. The key criteria for the temporary closure of negotiations in Chapter 6 (Commercial law) is precisely the adoption of the […]

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July, 2020

Dawn Raids in Slovenia

Media Raided for Competition Concerns

According to public information, the Slovenian Competition Protection Agency has allegedly been conducting dawn raids in the three biggest Slovenian newspaper publishers, Delo, Dnevnik and Časnik Večer in the past few days, due to suspicion of failure to notify a merger. In September 2019, the Agency apparently received a complaint that the newspapers had subordinated […]

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July, 2020

Energy and Natural Resources Update: North Macedonia

Extended Deadline for Submitting Offers for Photovoltaic Plants in REK Oslomej

Due to the COVID-19 situation, the authorities of North Macedonia once again extended the deadline for the submission of bids to construct and operate two solar photovoltaic plants on top of the old coal mine in REK Oslomej (located near the town of Kichevo). The new deadline for submitting bids is 28 September 2020, 10:00 […]

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June, 2020

Energy and Natural Resources News: Bosnia and Herzegovina

Ban on Construction of Small Hydro Power Plants in Federation of Bosnia and Herzegovina Announced

Following intensive pressure of environmental activists, the House of Representative (lower house of the FBH Parliament) of the Federation of Bosnia and Herzegovina (“FBH”) adopted the Declaration on Protection of Rivers (“Declaration”). The main goal of the Declaration is to completely ban the construction of small hydro power plants (“SHPPs”) in the FBH. For the […]

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June, 2020

COVID-19 Montenegro Update

Montenegro Allows for a More Lenient Assessment of Cooperation Agreements in Response to Situations of Urgency Caused by COVID-19 Pandemic

The new COVID-19 reality did not only bring about the asymmetric demand characterised by a high rise in demand for certain essential (usually health-related) products and a steep decline in demand for other products that are considered non-essential in times of crisis but has also created various problems in supply chains and distribution of products […]

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June, 2020

COVID-19 Impact and Strategies

Karanovic & Partners at the WSG Banking and Finance Webinar on COVID-19 Impact and Strategies in Europe

Karanovic & Partners attended the World Services Group banking and finance webinar on COVID-19 impact and strategies in Europe on 23 June 2020. Partner Maja Jovančević Šetka* spoke about the situation in the banking and finance area in the SEE and the consequences brought on by the pandemic. The webinar, moderated by Lukasz Szegda, Partner […]

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June, 2020

COVID-19 Slovenia Update

Slovenia: Loosening Rules on Public Procurement

The newly adopted Act on the intervention measures to mitigate and eliminate the consequences of the COVID-19 epidemic[1] (“Act”), which entered into force on 31 May 2020, introduces amendments to the Public Procurement Act.[2] Importantly, the thresholds are being loosened and less stringent rules for exclusion of tenderers from public procurements and organization of design […]

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June, 2020

Tender by the End of the Year

Tender for the Solar Power Plant in Podgorica at Velje Brdo by the End of the Year

The Montenegrin Ministry of Economy announced that the tender for the construction of the solar power plant at Velje Brdo site is expected to be initiated by the end of the year. This project, alongside solar power plant on Briska Gora and the wind power plants Gvozd and Brajići, is expected to have a strong […]

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June, 2020

Consequences of COVID-19

Karanovic & Partners Holds a Webinar on Construction in the SEE/CEE

Karanovic & Partners, along with Pinsent Masons and 3lite, held a webinar centered around making claims under FIDIC Red 1999 edition as a consequence of the COVID-19 pandemic and force majeure events on construction projects in Southern and Eastern Europe. The speakers included Franka Baica and Ermina Delić Kamenčić, Senior Associate* Ana Luković from Karanovic […]

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June, 2020

Public Consultations Begin

Digital Markets and Competition Law: The European Commission Opens Public Consultations on Potential New Regulatory Tools

Generally speaking, competition rules have an in-built flexibility that allows the authorities to address evolving issues and novel practices. However, the European Commission (“EC”) has taken the position that certain structural risks related to online platforms cannot be adequately addressed within the current regulatory framework, and has opened public consultations on exploring the need for […]

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June, 2020

FIC Human Resources Committee President Reappointed

Milena Jakšić Papac Re-elected as the President of the FIC HR Committee

Karanovic & Partners is pleased to announce that our Partner* Milena Jakšić Papac has been re-elected as the President of the Foreign Investors Council Human Resources Committee. Over the next two years, Milena’s main priorities as the President of the Committee will be focusing on the new Labour Law, digitalization and simplification of various procedures, […]

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2020