We are pleased to announce that Karanović & Nikolić has advised Jet Airways (India) Limited, together with Dentons UKMEA LLP, in an aircraft leasing transaction that will enable the long-haul trans-Atlantic route between Serbia and the United States (Belgrade-New York) to be restored ...
Last week's news reports from Slovenia are letting us know that the Slovenian state holding company (SDH) decided to privatise Nova Ljubljanska Banka (NLB), the country's biggest bank, through initial public offering (IPO) ...
The latest activity update regarding the Serbian Competition Commission has been the Decision brought by the Commission's President to initiate ex officio proceedings for suspected price fixing against 26 undertakings operating in the field of geodetic services.The proceedings come following a complaint by the Belgrade Land Development Public Agency, delivered to the Commission in April this year ...
According to recent reports, it seems to be that an exciting update in the aviation world might be waiting around the corner. More precisely, it has been circulated in the media that the global giant and world's fastest growing airline, Turkish Airlines, is contemplating the acquisition of Croatia's national carrier – Croatia Airlines ...
As the overall level of convergence between industries in the business world keeps increasing, it is only logical for the related legal aspects to follow suit every step of the way ...
Today, Wednesday, June 1st, the Framework Law for the Management of Waste, Extended Liability of the Producer and Promotion of Recycling No. 20,920 (the “Law”) was published.PurposeThe Law seeks to reduce the generation of waste and encourage its reuse, recycling and other types of recovery ...
The Indonesian Government has released the long-awaited revision to the Negative List (“DNI”). The revised regulation (Presidential Regulation No. 44/2016) was promulgated on 18 May 2016 and circulated to the public on 24 May. The DNI regulates the sectors which are closed, open, or conditionally open to investment. The DNI revision is keenly awaited as it stipulates, amongst other matters, restrictions on foreign participation in various business activities in Indonesia ...
Further to our client alert of 25 May, we include here the full list of changes to the 2014 Negative List (DNI), as contained in Presidential Regulation No. 44/2016 and its attachments. Note, again, that existing investors’ licensing will be grandfathered. ASEAN investors have preferential arrangements in many cases ...
Guatemala is experiencing an unprecedented and well-deserved offensive against corruption. An Ex-President and Vice-President along with many ex-Cabinet members are currently being prosecuted for a growing array of crimes including passive graft, money laundering and tax fraud, among others. The indictments are being brought through the efforts of a UN-sponsored commission which, until recently, had limited success in dismantling “organized crime”, its principal mandate ...
At the recently held coordination meeting of IPA (Instrument for Pre Accession Assistance) multi-beneficiary programs in Herceg Novi, the main focus was put on announcing the importance of EU funds for the implementation of important internal reforms and the progress of the Western Balkan countries towards membership in the European Union ...
Recent “gun jumping” rulings across Europe have included fines on investors and serve as reminders that exchange of information between two competitors during an M&A negotiation has to be treated with caution.In fact, if the focus in an M&A deal is usually on merger control clearances, the path towards the completion of the operation has also to be monitored very closely, in the sense that the companies involved should remain independent competitors until the deal is effectively closed ...
Various media outlets have recently been reporting on the economic relationship between Turkey and the Balkan countries, as well as the growing interest of Turkish companies to do business in this region through acquiring or cooperating with local companies – many of which are state-owned and in the process of being put up for sale by their respective governments. If we look closer into specific examples, the numbers are supportive of this positive trend, i.e ...
The government recently announced that a bill will be submitted to Congress to modify the Chilean Data Privacy Law N° 19,628 (“DPL”). In connection with the future bill (yet to be presented before Congress), the Ministry of Finance sent to several members of Congress a set of informal minutes outlining the structure and core aspects of the bill.The following is a summary of the minutes, and an initial legal analysis prepared by Carey ...
One may say that Russian migration procedures are overly complicated but is it really so, especially for foreign nationals falling into the category of highly qualified specialists (the HQS)? In reality, the procedure is not so complicated. Its main peculiarity is that it is quite formalistic and requires attention to details of both the employer and the employee. Under the general rule, a foreign national planning to work in Russia shall have a work permit and work visa ...
The government recently announced that a bill will be submitted to Congress to modify the Chilean Data Privacy Law N° 19,628 (“DPL”). In connection with the future bill (yet to be presented before Congress), the Ministry of Finance sent to several members of Congress a set of informal minutes outlining the structure and core aspects of the bill.The following is a summary of the minutes, and an initial legal analysis prepared by Carey ...
The Central Bank of Montenegro has recently published a report on foreign direct investments (FDI) that have been made in Montenegro during the first three months of this year. This FDI total has amounted to EUR 223 million, thus presenting proof of noticeable growth in this sense when compared to last year's EUR 100 million over the same period of time ...
According to recent reports, the European Bank for Reconstruction and Development (EBRD) has plans of investing more than EUR 3 billion in the Western Balkans region, of which approximately EUR 300 million is assigned to Serbia ...
The Act Amending the Business Freedom Act and Certain Other Acts enteredinto force on 19 May 2016. The changes mainly affect Poland's small businessregister - the Central Register and Information on Economic Activity (CEIDG). The amended Business Freedom Act clarifies certain terminology used in the regulations but also introduces entirely new solutions governing small businesses ...
Contrary to Anglo-Saxon and Northern European countries, French financial institutions have not used asset based lending, both because French security law was perceived as debtor friendly in insolvency proceedings and because French banks usually lend against balance sheets.In the context of credit restrictions, the French government was challenged to foster a reform aimed at facilitating the mobilisation of assets, in particularby SMEs, which have no credit rating ...
The Hamburg data protection authority has imposed fines against the companies Adobe, Punica and Unilever, stating that they have continued to transfer personal data to the USA contrary to the stipulations of the Safe Harbor judgment. 1. The Safe Harbor judgment of the ECJ dated October 6, 2015 (legal matter C-362/14) makes it clear that European companies can no longer simply transfer personal data to the USA as a "non-secure third country" ...
Growth of the real estate industry in Panama in recent years is noticeable, not just locally but at a regional level as well. Iconic architectural works such as the Trump Tower, F&F Tower (popularly called the “Screw”) among others, attracts positive criticism from different actors in the business and associations in the construction, development and promotion of the real estate business. In part, real estate growth in Panama is due to the ease in the execution of real estate transactions ...
On 12 March 2015, the Slovenian Competition Protection Agency ("Agency") initiated proceedings against Hyundai Avto Trade d.o.o. ("HAT"), the national distributor of Hyundai vehicles, together with a network of authorised repair shops for Hyundai motor vehicles ...
According to recent media reports, the Bosnian Central Bank (BCC) has presented information regarding the scope of investments made by the country's diaspora. More precisely, it has been reported that more than EUR 1.5 billion of investments are being made by the Bosnian diaspora each year through remittances and formal channels – meaning that the exact figure is even larger when accounting for other, informally made investments which have been proven to exist ...
In a decision issued last May 20,1 the Québec Court of Appeal affirmed a judgment2 of the Superior Court of Québec rendered on October 28, 2013, which dismissed the action in damages for more than $7 million brought by a former representative in insurance of persons and in group savings plan brokerage, Mr. Alan Murphy, against the Autorité des marchés financiers (?AMF?).FactsMr ...
Recent news reports show that IKEA, the world famous Swedish multinational retailer, is getting ready to invest EUR 88 million in the construction of a Designer Outlet complex in Croatia. The company, whose Croatian division opened on the outskirts of Zagreb in August 2014 and has since been welcoming over 1.5 million customers on an annual basis, has decided to embark on such an endeavour in order to tap into a yet unseen mix of outlet retail and leisure entertainment in the region ...
