The Endowment of the great Serbian national benefactor, Nikola Spasić, maintains a long-standing tradition of financially rewarding the best students from the Faculty of Medicine and Faculty of Agriculture in Belgrade. In 2019, the Endowment donated approximately €300,000 to charity. A total of 13 students with outstanding grade averages from the Faculty of Medicine and Faculty of Agriculture were awarded. Congratulations to all the award winners, and kudos to the Nikola Spasić Foundation Board for this exceptional charitable gesture. About the Nikola Spasić Endowment Nikola Spasić was a prominent Serbian businessman of the 19th century, President of the Belgrade Stock […]
DetailsDefining arbitration There is no universally accepted definition of arbitration as a way of resolving disputes. Attempts have been made to define it, albeit unsuccessfully. Defining it is mission impossible owing to its multifaceted characteristics, and is only exacerbated by the existence of domestic, and international arbitration. Primarily, to grasp the essence of arbitration, it should be noted that this is an alternative mechanism of resolving disputes, therefore, without recourse to courts of law. The parties at odds can go to court and initiate litigation. Alternatively, arbitration is another avenue for settling the dispute. Arbitration is not only reserved for […]
DetailsThe National Bank of Serbia is making inroads into harmonizing local legislation with European Union (“EU”) legislation, especially into amending regulations governing the operation of banks and other financial institutions. The European Commission (“EC”) adopted a decision of importance for the Republic of Serbia, which was published on 18 December 2019 in the Official Journal of the EU. Serbia’s push to amend the regulatory and supervisory framework concerning banks’ operations and in particular to amend anti-money laundering and terrorist financing regulation has borne fruit and is a step in the right direction for building a stable financial system. This decision […]
DetailsSerbia’s Parliamentary Committee on Finance, State Budget and Control of Public Spending held a public hearing yesterday, December 3, 2019. Among the items on the agenda was the shortlisting of candidates for election to the State Aid Commission’s new Council and election of the Commission’s chairperson. Incumbent chairperson of the Commission, Vladimir Antonijević, was nominated for reelection to another five years in office, whereas other nominees for Council membership include Marko Vidaković, Ljiljana Blagojević, Dragan Đurđević, and Dušica Đorđević. In the light of the recently enacted new State Aid Act, on which draft we provided proposals in the course of […]
DetailsGecić Law assisted GORENJE doo gospodinjski aparati, Slovenia, as local legal counsel, in the acquisition of GORENJE TIKI doo Stara Pazova, Serbia by Swedish NIBE Industrier AB. Katja Zdolšek of Zdolšek Attorneys, Slovenia, led the advice. Gorenje Tiki is Gorenje’s Serbian affiliate and is proud to be one of Europe’s main water heater producers. Author: Ognjen Colić
DetailsWe all love to see the famous musketeer whoop, as a true stalwart of modern society. Notwithstanding a reality check which may be otherwise, it does not necessarily mean that society is not continually aiming to reverse such “otherwise” state of affairs. Is it really: every man for himself and the Devil take the hindmost? … even before the eerie courts? Well, fortunately not always. Casting an eye over justice systems around the world, one bumps into something called class action, or collective redress. In common law systems, with the United States as their standard-bearer, class action is currently in […]
DetailsIt is our great pleasure to announce that our Senior Counsel Ognjen Colić will be a panelist at the Winter Vivaldi CFO & LEGAL Forum, which will take place from 27th to 29th November 2019 in Mokra Gora. This year’s Forum will focus on Financial and Legal Security topics. Speakers and panelists of various profiles and industry sectors will present some of the major challenges and risks faced by companies. Ognjen Colić will participate in the closing panel discussion named “How to Avoid the Balkan Spy Scenario”*, where alongside other colleagues from the legal sector he will take an in-depth […]
DetailsThe International Labor Organization Convention No. 181 on Private Employment Agencies, dating back to 1997, as one of the main reasons for passing the Convention cites recognition of the role of private employment agencies in the functioning of the labor market, as well as the need to provide employees with protection from abuse and guarantee freedom of association and enhancing social dialogue. On 20 February 2013, the National Assembly of the Republic of Serbia adopted legislation ratifying the Convention, bearing in mind that strengthening social dialogue at all levels is, inter alia, one of the requirements of Chapter 19 (Social […]
DetailsIs bad stronger than good? It is a fact that people are far more inclined to remember negative criticism or comments, than praise. It takes so many positive events to make amends for just one negative event. The Court of Justice of the European Union issued a Press release on October 3, concerning judgement in the case in which Mme Eva Glawischnig-Piesczek sued Facebook Ireland before the Austrian courts. She requested the removal of the notably harmful comment by a Facebook user which Austrian courts found insulting and defaming. The news immediately hit the headlines! The plain and simple truth […]
DetailsSingapore – the Ceremony At the beginning of August, the United Nations Convention on International Settlement Agreements Resulting from Mediation (the “Convention”) was signed in Singapore. The Convention signed by 46 states shall enter into force 6 months after ratification in at least three signatory parties. The primary concern addressed by the Convention is how to motivate companies involved in cross-border projects and transactions to rely on the mediation process as a means of alternative dispute resolution, bearing in mind that it cut costs both in terms of time and material resources. Application and Benefits of the Convention The scope […]
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