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September, 2020

Data Protection Update: North Macedonia

Little Under a Year Left for Data Protection Compliance

On 24 February 2020, the new Law on Personal Data Protection (“Law”) entered into force. With it, North Macedonia largely harmonized its data protection legislation with the General Data Protection Regulation (GDPR), however, certain differences do exist. Data subjects have more control over their personal data which is subject to processing, and many obligations are […]

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September, 2020

Karanovic & Partners Firm Update

Karanovic & Partners Announces Withdrawal of Patricia Gannon and Dejan Nikolic

After a prolonged process, Karanovic & Partners announces the withdrawal of founding partners Patricia Gannon and Dejan Nikolic. Both Dejan and Patricia have played a vital role in contributing to the immense success of the firm over the past 25 years. Dejan had led the firm’s expansion strategy throughout the former Yugoslavia to what it […]

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September, 2020

CEE Legal Matters Experts Review: Energy and Natural Resources

The Gas Sector in Bosnia and Herzegovina – Regulatory Framework and Obstacles for Market Development

This Article was originally published in Issue 7.6 of the CEE Legal Matters Magazine.   Bosnia and Herzegovina (BH) is a contracting party to the Energy Community. As such, it has undertaken the obligation to align its energy sector legislation and transpose the Third Energy Package in the gas sector, among others. Such alignment in […]

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August, 2020

Success from Here – Stories of People from the IT Sector

Rastko Petakovic at the Documentary about Serbian Startup Scene

Rastko Petaković, Senior Partner at Karanović & Partners, took part in the documentary “Success from here – stories of people from the IT sector”. The movie produced by Talas in cooperation with Startit deals with the rise of the IT sector in Serbia and was premiered on 29 August on N1 television. Rastko Petakovic spoke […]

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August, 2020

CEE Legal Matters Experts Review: Energy and Natural Resources

Hoping for Greener Days

This Article was originally published in Issue 7.6 of the CEE Legal Matters Magazine   Serbia has pledged to decrease GHG by 9.8% by 2030 compared to 1990 levels. Although deficiencies in data quality and data availability for the GHG inventory (as published by the Energy Community Secretariat) make that data difficult to properly verify and […]

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August, 2020

Covid-19 Update: Serbia

Serbia Adopts a New Package of Economic Measures

According to the newly adopted package of COVID-19 economic measures, financial aid will be provided to Serbian companies registered between 15 March 2020 and 20 July 2020, which were not able to apply for fiscal benefits from April this year. The measure is introduced by Conclusion of Serbian government 05 No. 401-6052/2020 (“Conclusion”). These companies […]

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August, 2020

Karanović & Partners and Compass Lexecon advise the World Bank Group and the Se...

Karanovic & Partners Contributed to the Analysis on the Serbian Railway Freight Transport Market

On 12 August 2020, the Competition Commission of Serbia published an analysis on the Serbian railway freight transport market, which was prepared within the Program for Improving the Business Environment for Serbia. The World Bank Group conducted a study of the railway freight transport market in the Republic of Serbia in accordance with the Agreement […]

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August, 2020

New Set of Measures of the National Bank of Serbia

NBS Decision on Temporary Measures for Easier Real Estate Financing

The National Bank of Serbia (“NBS”) announced that it adopted the decision concerning temporary measures for Serbian banks (the “Decision”) on 17 August 2020. The Decision is aimed at facilitating an easier access to financial sources for purchasing residential real estate in Serbia by its citizens. The Decision will introduce the set of three temporary measures, intended […]

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August, 2020

Energy Update - Croatia

The First Tender for Supporting Renewables in Croatia

The Croatian Energy Market Operator (“HROTE”) issued the first public invitation for submission of bids on a public tender for granting of feed-in-tariffs (“FiT”) and premiums, respectively, as incentives for production of electricity from renewable energy sources. The public invitation is a statutory precondition for the tender and is published two to four months before […]

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August, 2020

CEE Legal Matters Experts Review: Data Protection

Walking the Fine Line – Processing Employees Data During COVID-19 Pandemic

This Article was originally published in Issue 7.5 of the CEE Legal Matters Magazine.    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 […]

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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 Partner

Karanovic & Partners is pleased to announce that Milena Pejović is promoted to 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 real […]

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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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2021