Serbia: Energy Sector Update
New Rules for the Connection of Power Plants to the System
The new Decree on Conditions for the Delivery and Supply of Electrical Energy in Serbia enters into force today, 13 October 2023. Long-awaited regulation sends the signal that the connection procedure for new projects that has been basically on hold for more than two and a half years will be deblocked soon. The new rules […]
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Croatia: Corporate News
Fortenova Refinances Its Existing Bond
Fortenova business group has refinanced its existing bond in the amount of EUR 1.2 billion through a new bridge-type financing. The team of legal counsels to the lenders was led by Hogan Lovells International LLP. Karanović & Partners team advised the lenders on the project. Our colleagues, Partner Igor Angelovski and Senior Associate Ajda Kuhar […]
Read more Balkan Arbitration Event
Highlights from the Balkan Arbitration Conference 2023
The Balkan Arbitration Conference was held in Zagreb this year on 28 and 29 September, attracting numerous international dispute resolution experts. During the event, our Partner Milica Savić spoke in a panel focused on the annual Balkan round-up, engaging in discussions about the latest developments in arbitration across the region. Our colleague, Partner Minu A. […]
Read more Albania: Legal Update
Albanian Draft Law on Gambling
Albania is taking significant steps towards ending its five-year prohibition on sports betting, with a draft law recently passing for consideration in the Albanian Parliament. The initial Gambling Law of 2015 defined permissible games of chance, regulated industry conditions, and outlined oversight responsibilities. However, since 2018, Albania has strictly banned gambling activities, except for those […]
Read more Focus on Energy 6th Edition
Energy Insights 2023: The Newest “Focus on Energy” Publication
Karanović & Partners is pleased to announce that we have published the 6th edition of our Focus on Energy publication. Following the official launch during the meeting of the Energy Law Group in Zagreb on 29 September 2023, this edition is now accessible, inviting discussions with regional and European energy experts on the latest and […]
Read more Montenegro Green Sector Update
Karanović & Partners Advises Sellers in the Acquisition of the 118 MW Wind Farm Project in Montenegro by Alcazar Energy
Karanović & Partners advised Simes Inženjering and Sistem MNE, the original project developers, on the transaction involving divestment of the wind farm project “Bijela”, with a planned installed capacity of 118 MW, to be constructed in Šavnik, Montenegro, to Alcazar Energy, a Luxemburg based investor with strong track record in developing and building renewable energy […]
Read more Merger & Acquisition News in Serbia
Acquisition of MaxBet, the #2 Sports Betting and Gaming Operator in Serbia
Flutter Entertainment plc, the global sports betting, gaming and entertainment provider, announced the acquisition of an initial 51% stake in MaxBet, Serbia’s #2 omni-channel sports betting and gaming operator for a cash consideration of €141m (£123m). The Karanovic & Partners team, led by Senior Partner Miloš Vučković, Partners Ivan Nonković, Senior Associate Sava Drača and […]
Read more IP News
Trade Secrets Litigation in the EU: A Glimpse into the Landscape
Trade secrets are an invaluable asset for many businesses, often encompassing years of research, innovation, and strategic development. Protecting them is paramount, and the legal landscape surrounding this protection is ever-evolving. The European Union Intellectual Property Office (EUIPO) recently published the report “Trade Secrets Litigation Trends in the EU” (June 2023), which provides fresh insights […]
Read more The Application for the New Generation of k/andidates
Autumn Enrolment for k/andidates Begins!
We are happy to introduce the autumn edition of our k/andidates program and are on the lookout for the next generation of legal trainees to join our practice. Our program is crafted to offer training and developmental prospects to individuals driven by a passion for embarking on a legal career. It is designed by both […]
Read more Serbia: News on Housing Loans Interest Rates
Limitations on Housing Loans Interest Rates
The new Decision on Temporary Measures for the Banks Related to Housing Loans to Natural Persons (the “Decision”) adopted by the National Bank of Serbia (the “NBS”) entered into force on 13 September 2023. The Decision has been adopted as part of the NBS’ efforts to ensure the stability of the financial sector and to […]
Read more 2023 IFLR1000 Ranking Announced
Karanovic & Partners Ranked in the Latest 2023 IFLR1000 Ranking of the Leading Legal Practices
Karanovic & Partners has been recognized once again as a top-tier law firm in the latest 2023 IFLR1000 ranking of the leading legal practices. The IFLR1000 currently researches more than 235 jurisdictions globally. IFLR1000 has once again ranked Karanovic & Partners and the cooperating lawyers as the Tier 1 in the Financial and Corporate and […]
Read more Tax News: Serbia
Increase of Excise Taxes by 8% for Certain Products
The Government of the Republic of Serbia adopted amendments and supplements to the Excise Law (Law) on 6 September 2023. Increase in excise taxes The Law prescribes an increase in excise taxes by 8% effective from 1 October 2023 for: petroleum derivatives; coffee; alcoholic beverages; tobacco products; liquids for electronic cigarette refills. New excise taxes […]
Read more Data Protection Update
Serbia Adopts the Personal Data Protection Strategy for 2023 – 2030: Fresh and Bold Goals for the Times to Come
In a critical move to face the rapidly evolving technological novelties and their immanent implications on the protection of personal data and the business environment in general, the Serbian Government adopted the Personal Data Protection Strategy 2023 – 2030 (the “Strategy”) late this August. It seems that the Strategy arrived at a crucial time, considering […]
Read more Serbia: Open Call for Women’s Entrepreneurship
Open Call for Women’s Entrepreneurship – Call for Granting Cash Incentives and Loans is Published
Open call for granting non-refundable cash incentives and approval of loans with the aim of incentivizing the development of women’s entrepreneurship was published on 28 August as part of Program for incentivising the development of entrepreneurship through financial assistance for women’s entrepreneurship (Program). The total available funds for the implementation of this Program amount to […]
Read more Slovenia Update
Top Rankings in ITR World Tax 2023
We are pleased to share that our colleagues from Ketler & Partners, member of Karanovic, have made the rankings in ITR World Tax, the annual World Tax guide, a key resource in assisting tax professionals locate specialist advice, for 2023. The team earned the rankings in both categories, Tax and Transfer pricing, for the very […]
Read more AI in the Copyright Spotlight
Judgment on Copyrighting Generative AI
In the ever-evolving world of technology, the boundaries of law are constantly being tested. With the most recent developments in generative AI (artificial intelligence – language and diffusion models), the boundaries of IP law are being tested to their absolute limits. A recent ruling by the United States District Court has brought to light a […]
Read more Serbia: Legislation Update
Amendments to the Law on Financial Support for Families with Children
On 26 July 2023, the Serbian National Assembly adopted amendments to the Law on financial support for families with children. The key novelty of the amendments is that they expand on the financial benefit for pregnant mothers who are registered entrepreneurs and an additional basis for paid leave for the employed father of the child. […]
Read more Serbia: Legislation Update
Proposal of Amendments to the Law on Citizenship
In May 2023 the Government of the Republic of Serbia submitted the official Proposal of the Law on Amendments of the Law on Citizenship of the Republic of Serbia (the Proposal), which is currently in the process of deliberation within the National Assembly. The Proposal mainly facilitates a much easier path to acquiring Serbian citizenship. […]
Read more Serbia: Legislation Update
The long-awaited Amendments of the Law on Foreigners and Law on Employment of Foreigners
The Serbian National Assembly adopted amendments to two key laws regulating the immigration status of foreigners in the Republic of Serbia – the Law on Foreigners and the Law on Employment of Foreigners. The amendments aim to simplify and streamline the process of obtaining residence and work permits for foreigners by introducing a unified permit […]
Read more M&A News in Serbia
PPF Announces Partnership with Global Technology Group e&
PPF Group and Emirates Telecommunication Group Company (e&) signed an agreement under which e& will acquire a stake of 50% plus one share in PPF Telecom Group’s assets in Bulgaria, Hungary, Serbia and Slovakia. The assets comprise Yettel Bulgaria, Yettel Hungary, Yettel Serbia, and the O2 Slovakia service operations and the CETIN and O2 Networks […]
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