In the previous article, we became familiar with the class action. This legal institute originated from Anglo-Saxon law, and many countries use it, primarily the USA. In this article, we will consider the introduction of a similar institute into the legal system of the Republic of Serbia from the perspective of de lege ferenda. Purpose and Use Through its centuries-long application, class action has proven to be a significant legal mechanism essential to every modern societal system. Indeed, in situations where an event threatens the interests of a more significant number of individuals, there is no better way to provide […]
Details
Gecić Law adds another successful year to its story of excellence after achieving impressive rankings in the 2023 edition of the prestigious Legal 500 EMEA Guide, reflecting the firm’s world-class service and the expertise of its teams and individuals. For an impressive seventh year in a row, Gecić Law’s market-leading Competition practice has earned a Tier 1 status, with significant achievements in matters with far-reaching implications not only on the clients’ businesses but on the economies of the entire region, incorporating diverse aspects, including EU law, state aid and international trade. For a second year, the firm’s Founder and Managing […]
Details
The article “Subjective Scope of Domestic Arbitral Award” by our Partner and Head of Dispute Resolution, Jovana Veličković, was published in the latest edition of the eminent publication Law and Economy of the Business Lawyers Association of Serbia. We bring here a summary of the article: Summary: Based on Article 64 par 1 of the Arbitration Act, the domestic arbitration award can legally affect only the parties and their legal successors (singular and universal). In relation to third parties, the award can affect only if the nature of the subject matter of the dispute requires it (effect erga omnes) or […]
Details
Our Senior Associate Miodrag Jevtić had a live guest appearance in the central news program of Euronews Serbia yesterday. He was invited to speak about class action lawsuits and their specific status in Serbian law, especially as they could apply to the protection of consumer rights, an area that has lately seen significant public interest in a number of different instances. Miodrag explained the concept of class action lawsuits and their potential advantages, particularly in leveling the playing field for consumers facing large companies who have infringed upon their rights. He also pointed out that class action lawsuits could help […]
Details
On September 9, 2021, the National Assembly of the Republic of Serbia adopted a new Consumer Protection Act (“Act”), which entered into force on September 19, 2021. The Act shall become applicable three months following its entry into force i.e. on December 20, 2021 (save for the articles regulating out-of-court settlements of consumer disputes, which shall become applicable six months following the entry into force i.e. on March 20, 2022). The Act’s main objectives are the improvement of consumer protection, more efficient implementation of statutory solutions and the comprehensive harmonization of consumer rights in Serbia with EU consumer protection law, […]
Details
Defining 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 […]
Details
The National Assembly of the Republic of Serbia recently passed the Enforcement and Security Interest (Amendment) Act (“Act”) which is set to be enacted on August 3, 2019 and come into force as of January 1, 2020. The Act contains a series of amendments to address shortcomings and resolve issues that have arisen in practice, and to ring the changes with the introduction of electronic filing of motions for enforcement, an electronic bulletin board, electronic public auctions, expedited enforcement proceedings etc. However, much controversy surrounds the fact that Article 170 prescribes that the Act shall come into force as of […]
Details