Serbian Planning and Construction Act Further Revised to Promote Investments into Real Estate Development

The validity of local conditions, one of the initial and most important documents in the permitting process showing what investor can build on certain piece of land, is to be extended from one to two years. The deadline to commence work under construction permit is also to be extended from two to three years from the issuance of the permit, to allow more time for investors to raise funds. Although the proposed amendments are welcome, there is room for further improvement. Milan Dakic, partner at BDK Advokati, discussed the remaining pitfalls of the Planning and Construction Act in the June edition…

Komercijalna Banka’s Shares on Sale

The Republic of Serbia is yet to officially announce the sale of its share (41.7%) in Komercijalna banka a.d. The target is the second largest bank in Serbia with approximately 11% of the market share. The value of the transaction is unknown but shares of Komercijalna banka are currently under high demand on the Serbian Stock Exchange at a price of approximately EUR 17 per share.

Sale of Luka Novi Sad

The Republic of Serbia is expected to announce the sale of Luka Novi Sad (Novi Sad port). The target is the only remaining state-owned port in Serbia that was previously under radar of 12 local and foreign companies which officially submitted letters of interest in the past. The asking price remains unknown.

BDK Held a Session on GDPR and Serbian Media

On August 20, 2018, Bogdan Ivanisevic, Head of Data Protection practice at SEE Legal's Serbian member BDK Advokati, held a session on “GDPR and Serbian media” for the participants in the “Strengthening Media Systems” project. The event was hosted by ICT Hub, in its Belgrade office. ICT Hub in partnership with USAID has launched a media accelerator to reinforce the capacities and boost the initiatives of local media entities that have a record of independent and objective reporting. The entities included in the accelerator are: Vreme weekly magazine, Danas daily newspaper, BIRN media network,…

European Commission’s Qualified Support to Serbia’s Draft Data Protection Law

Bogdan Ivanisevic of SEE Legal's Serbian member BDK Advokati Discusses European Commission’s Qualified Support to Serbia’s Draft Data Protection Law: Earlier this week Serbian public got an opportunity to acquaint itself with the general comments and detailed comments by the European Commission (EC) of the Serbian government’s draft data protection law. The purpose of the EC’s comments, written in April 2018, was to assist the government to create a decent bill. At the same time, the comments represent a kind of a verdict on the government’s law-making effort. Serbian data protection…

BDK Advises the Shareholders of Frame on the Sale to Nutanix

US-based Nutanix has signed definitive agreements to buy US-based company Mainframe2 Inc, known as Frame. SEE Legal's Serbian member, BDK Advokati, is proud to have been a part of the legal team led by Orrick that advised Frame on this deal. Frame is a cloud-based Windows desktop and application delivery leader, founded in 2012 in US by Serbian entrepreneur Nikola Bozinovic. The company has a subsidiary in Serbia with locations in Niš and Belgrade. Nutanix is a cloud computing software company that went public in 2016 and is valued today at USD 9 billion. The combination will allow the companies…

Sale of PKB Korporacija

The Republic of Serbia has announced the sale of PKB Korporacija. The target is one of the major companies in farming, agriculture and food production in Serbia. The Informative Memorandum is available on the website of the Ministry of Economy of Republic of Serbia: http://www.priv.rs/Javni-pozivi/12306/Javni-poziv-za-PKB-Korporaciju-ad-Padinska-Skela.shtml. The minimum price for the sale of 100% of the registered capital of PKB Korporacija is EUR 104.5 million. According to the Ministry of Economy, the estimated market price of the assets as of 31 December 2017 was EUR 208,463,139.86. The sale…

BDK Advokati Contribute to Getting the Deal Through: Telecoms and Media

BDK Advokati gave overview of the Serbian regulatory framework concerning telecoms and media in Getting the Deal Through: Telecoms and Media. The analysis was authored by Bogdan Ivanisevic, Pablo Perez Laya and Zorana Brujic. Telecoms In the summary of the regulatory framework for the telecoms sector in Serbia, the authors focused on the Electronic Communications Act as the key piece of legislation. They explained the institutional structure and competencies of relevant state bodies, including: the Government of Serbia, the Ministry in charge of the telecommunication and information society…

Bogdan Ivanisevic and Zorana Brujic of BDK Advokati published in ECTA Daily

Bogdan Ivanisevic, partner and head of BDK's Intellectual Property practice, and Zorana Brujic, associate, authored an article on proving bad faith in trademark cases, for ECTA Daily, a bulletin published during ECTA's 37th Annual Conference held in Athens from 13-16 June 2018. In their article, Bogdan and Zorana analyzed the criteria laid down by the E.U. Court of Justice and the General Court for establishing bad faith, including non-use of the trademark by the registrant, existence of a previous relationship with the claimant, wide use of the sign by the claimant in the relevant territory,…

Article on Participation of Private Investors in Development of Infrastructure in Serbia

Partner of BDK Advokati Milan Dakic wrote an interesting piece on the statutory possibilities for private investors to actively participate in the development of public infrastructure such as roads, electricity or sewerage networks outside of PPP and public procurement frameworks. Such public-private cooperation can be regulated by an agreement between an investor and a local municipality. Read full article here.

BDK Advokati authors Serbia chapter in 'Copyright 2018' (Chambers & Partners)

BDK Advokati has contributed a Serbia chapter to Copyright 2018, one of the Chambers and Partners Global Practice Guides. The copyright guide includes thirteen country-specific chapters and offers a comprehensive overview of the developments in the constantly evolving field of copyright. The guide aims at providing copyright practitioners with some initial tools to deal with the copyright-related issues. Other contributors include Baker McKenzie (London), Graf & Pitkowitz Rechtsanwälte, LGV Avvocati, Pearl Cohen Zedek Latzer Baratz, and Weil, Gotshal & Manges LLP. Bogdan Ivanisevic, partner,…

BDK Advokati at Balkan's M&A and Private equity forum

BDK Advokati took part in 2018 edition of Balkan's M&A and private equity forum organized by Mergermarket in Belgrade. The event hosted leading investment companies, PE funds, banks and law firms from the Balkans. At one of the panels, Vladimir Dasic, senior partner at BDK Advokati, discussed Opportunities for private equity in the exit market together with Andrej Babache, director at Mid Europa Partners, Vuk Vukovic, partner at Blue Sea Capital and Nikola Stefanovic, general director at SEAF South Balkan fund. Panellists gave an overview of local market environment and examined what drives…