AD ESM Announced a Public Call for the Construction of 100 MW Photovoltaic Power Plants

AD ESM announced a public call for the construction of 100 MW photovoltaic power plants which are located on the site of the depleted coal mine of REK Oslomej, through a public-private partnership, i.e. two 50 MW power plants.

Balkan Legal Forum is Celebrating its 20-Year Anniversary with a Special Edition on Legal Practice Transformation

The 20-year Anniversary of the Balkan Legal Forum ("BLF") of the International Bar Association will be held on 11th and 12th June 2020 in Sofia, Bulgaria. Our special focus will be put on the legal practice transformation, applying the lessons we learned from the past 20 years and discussing the challenges that we are going to face in the next 20 years.

Kolcuoglu Demirkan Kocakli Advised on the Deal of the Year in Ernst & Young's Merger and Acquisitions Report for 2019

In its Mergers and Acquisitions Report 2019, Ernst & Young has selected PayU’s acquisition of iyzico as the Deal of the Year 2019. Kolcuoglu Demirkan Kocakli advised iyzico, the market leader in e-money and payment services in Turkey, and its shareholders on this transaction.

GetSwift Acquires a Majority Stake in Logo d.o.o.

GetSwift, a worldwide leader in delivery management automation, headquartered in New York City and listed on the Australian Securities Exchange, has acquired a 60% stake in Logo d.o.o., a Serbian information and communications technology firm.

Opening of a Bank Account in Albania: Physical Presence of the Client no Longer Required

With the recent amendments introduced in the banking Regulation on Prevention of Money Laundering and Terrorism Financing (No. 44/2009), the Bank of Albania has abrogated the restriction of opening of a bank account only upon the physical presence of the Client.

Serbia Gets its Standard Contractual Clauses

The Serbian Commissioner for Information of Public Importance and Personal Data Protection issued on 16 January 2020 the long-awaited Standard Contractual Clauses that became applicable on 30 January 2020. Serbian SCCs are not designed as a cross-border transfer instrument first and foremost. Rather, the clauses apply to a controller-processor relationship irrespective of where the controller and the processor operate. In line with that, Serbian SCCs follow the structure of the data processing agreement as prescribed by Article 28 of the GDPR, i.e. by the corresponding Article 45 of the Serbian DP Act (2018).

What Should an Employer Take into Account When Calculating the (Minimum) Wage for Work Carried out in 2020?

The Act Amending the Minimum Wage Act, adopted by the National Assembly of the Republic of Slovenia on 13 December 2018, introduced some important changes which raise a number of questions for employers. Some changes take effect as of 1 January 2020 and others as of 1 January 2021.

Perparim Kalo’s Reflections on the Lawyering after Three Decades

KALO & ASSOCIATES has celebrated its 25th Anniversary in 2019. To reflect on that, the managing partner of the firm, Perparim Kalo, discusses the development of the legal practice in Albania during the last 30 years.

Employee Stock Options in Limited Liability Companies

Serbia has recently amended the Companies Act to introduce a legal framework for employee stock option plans (“ESOPs“) in limited liability companies (“LLCs“). Although the Parliament passed the law on 23 December 2019, the relevant provisions enabling the creation of ESOPs in LLCs will take effect on 1 April 2020.

New Labour Act in Montenegro

New Montenegrin Labour Act introduces important changes to the regulation of employment.

Draft Ministerial Decision on the Enactment of the Greek Gaming Regulations

On 31 December 2019, a Draft Ministerial Decision on the “Enactment of the Gaming Regulations and the Gaming Regulations Technical Specifications for the organisation and running of online games of chance” was submitted to the European Commission under the Notification Number 2019/0657/GR. The draft text will remain under public consultation for a three-month period, and it paves the way to the long-awaited granting of full online licences.

Fiscal Package 2020 Introduced in Albania

KALO & ASSOCIATES present their first Tax Bulletin for 2020 discussing the Fiscal Package 2020 that has been introduced in Albania as of 15 January 2020.