DTB Assists PPD in Selling 50% Shares in TMF, Majority Shareholder of Petrokemija d.d.

November 2022  Divjak Topic Bahtijarevic & Krka (DTB) has assisted Prvo plinarsko drustvo, the leading subsidiary of the largest Croatian private company ENNA, in the disposal of its participation in joint venture company Terra Mineral Fertilizer Ltd. (“TMF”). TMF is the largest shareholder of the only Croatian fertilizer company - Petrokemija. The majority stake in Petrokemija has been sold to Turkish conglomerate Yildrim Group, and the completion of the transaction is subject to customary approvals of regulators in several jurisdictions. DTB has assisted Prvo plinarsko drustvo with…

Montenegro – Soon to Become a Destination for Digital Nomads?

May 2022  Author: Jelena Brajkovic, BDK Advokati  On 18 May 2022, a group of MP’s proposed amendments to the Foreigners’ Act to introduce the possibility of obtaining a temporary residence permit for digital nomads. The parliamentary debate on the amendments is expected to start at the beginning of June 2022. The amendments are designed to attract foreigners from IT and other mobile sectors to Montenegro. Digital nomads The proposed amendments to the Foreigners’ Act define digital nomads as foreign individuals (whether they are registered as entrepreneurs or not) who provide Montenegro…

CEECAT Capital Acquires a Majority Stake in Gomex

April 2022, BDK Advokati CEECAT Capital, private equity and private credit investor, has acquired a majority ownership interest in Gomex d.o.o., a leading neighborhood grocery store chain in Serbia. Gomex has approximately 2500 employees and more than 190 retail stores spread across Serbia. The investment will enable Gomex to accelerate its growth and expansion plans in Serbia. The investment in Gomex is the first in Serbia for CEECAT Capital. With its sale to CEECAT Capital, SEAF South Balkan Fund has sold its last investment in that Fund while Gomex’s founder Mr. Goran Kovacevic remains in…

BDK Advokati Advised Yokohama Rubber

March 2022 Yokohama Rubber Co., Ltd., a tire manufacturing company based in Japan, entered into a share purchase agreement with the Swedish-based Trelleborg AB to acquire all shares of Trelleborg Wheel Systems Holding AB, a company engaged in the manufacture and sale of off-highway tires for agricultural and forestry machines, material handling, construction vehicles, motorcycles, and other specialty segments. The enterprise value is over EUR 2 billion. BDK Advokati advised Yokohama Rubber on the Serbian law aspects of this acquisition, along with Freshfields Bruckhaus Deringer as international…

Serbia Activates Temporary Protection for Displaced Persons Fleeing Ukraine

March 2022 Author: Relja Radovic, BDK Advokati  On 17 March 2022, the Government of Serbia adopted the Decision on the Temporary Protection in the Republic of Serbia of Displaced Persons from Ukraine (available in Serbian here). The decision was published on 18 March 2022, and it entered into force on 19 March 2022. According to the Asylum and Temporary Protection Act (Official Gazzete No. 24/2018), the Government can activate the temporary protection regime in the event of a mass influx of displaced persons who are unable to return to the country of origin or usual residence, if there is…

How People Fleeing a Conflict Can Stay and Work in Serbia

March 2022 Author: Marija Gligorevic, BDK Advokati While the European Union has introduced special temporary protective measures for people fleeing the war in Ukraine, Serbia is currently not faced with a mass influx of displaced persons from that country. As a matter of principle, people fleeing the war in Ukraine or persecution in Russia may avail themselves in Serbia of the asylum procedure. Individuals from these two countries may also enter and work in Serbia based on general rules applicable to foreigners. Asylum Foreigner is eligible for refugee status in Serbia if they have a well-founded…

Spain: Amazon Road Transport Fined for Requesting Criminal Records From Job Candidates

February 2022 Author: Pablo Perez Laya  On 11 February 2022, the Spanish Data Protection Authority (Agencia Española de Protección de Datos) fined Amazon Road Transport Spain, S.L. (“Amazon RT“) EUR 2,000,000, for including criminal record certificates within the documentation that it requests during the hiring process of freelance truck drivers. The following are the aspects of the decision which we have considered the most interesting: Certificates showing “clean” criminal records (i.e. that no crimes have been committed) do amount to personal data relating to criminal convictions…

Montenegrin Tax Reform “Europe Now”

January 2022 Author: Jelena Brajkovic, BDK Advokati The Montenegrin Parliament adopted at the end of 2021 a set of legislative changes concerning taxation, in the Labour Act, Mandatory Social Security Act, Personal Income Tax Act, and Corporate Income Tax Act. The new regime applies from 1 January 2022. Personal income Employment The announced reform’s key goal was to increase the average salary in Montenegro. This was achieved through: (i) increasing minimum monthly wage for full-time work from net EUR 222 to net EUR 450, (ii) abolishing mandatory contributions for health insurance, and…

Which Employment-related Documents Can Be Executed in Electronic Form in Serbia?

November 2021  Authors: Marija Gligorevic, Tijana Kojovic According to the Labour Act, a number of employment-related decisions (e.g. decision on termination of employment, the decision on overtime work, the decision on suspension etc) must be personally served on the employee at the employer’s premises, or at the employee’s address by registered mail. In case personal service fails, the decision must be published on the employer’s notice board together with a note on failed service. It follows from the personal service requirement that such decisions must be issued in hard copy form.…

Turkey: Q2 Competition Law Bulletin 2021

The Preliminary Report on E-marketplace Platforms Sector Inquiry (the “Preliminary Report”) published by the Turkish Competition Authority (the “TCA”) was the most significant competition law development during the second quarter of 2021. On 7 May 2021, the Preliminary Report, which contains the Competition Board’s (the “Board”) initial findings of the sector inquiry initiated on 11 June 2020 and policy suggestions, was published on the TCA’s website for public consideration. The Preliminary Report explores competition law concerns associated with the e-commerce sector and…

Polenak Law Firm Welcomes New Partner Tanja Polenak

Polenak Law Firm is pleased to welcome Tanja Polenak as a new partner who will be leading the firm’s employment and collection practice. Both Polenak Law Firm and the SEE Legal Group wish Tanja a warm welcome. An accomplished legal professional, Tanja has nearly 25 years of experience in the legal practice, 12 years in the Court of Appeals Skopje and 12 years as Head of the Legal Department at Eurolink Insurance Skopje. Her expertise assures valuable contribution to Polenak Law Firm team’s dedication to maintaining a high standard of practice and competent service to clients.

What Issues are the Companies Facing during Remote Work?

The SEE Legal Employment & Immigration Practice Group and ALRUD’s Labour and Employment Practice join forces to present and discuss the most challenging issues that companies based in Southeast Europe and Russia are facing during remote work. The discussion will be split over two webinars taking place on Tuesday, 15th June and Thursday, 17th June 2021. The first webinar on Tuesday, 15th June will cover the jurisdictions of Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Russia, Serbia and Slovenia. If your company is based in any of these countries, please feel free to register…