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12 October 2023 We are delighted to receive the Women in Law Award for Best Law Firm 2023, which confirms our ongoing commitment to diversity and equality in the legal industry. Our efforts to promote gender diversity, create a fair and inclusive working environment, and support initiatives such as the Ladies League have enriched our culture. Our CMS Diversity and Inclusion charter as well as our internal initiatives reflect our passion to promote women and diversity and to create an inclusive legal industry. We are grateful for this recognition and look forward to a future that is even more diverse, inclusive and sus­tain­able.    Spe­cial thanks to Future-Law, Women in Law Austria and the Association of Austrian Corporate Lawyers - VUJ for the award and to our Ladies League team: Denisa Brighton, Daniela Karollus-Bruner, Daniela Krömer, Jelena Nushol Fijačko, Andrea Potz, Maria Orlyk, Nedzida Sa­li­hovic-Whalen, Gabriela Staber, Marija Tesic and Döne Yalçın.

Published on 18 July 2023

Published on 24 May 2023CMS Slovenia, Croatia, and Serbia made a joint appearance at the PODIM conference, one of the most influential startup and tech events in the CEE region, which took place in Maribor, Slovenia, from 15 to 17 May 2023. CMS's Joint Presence at the PODIM Conference: Fostering Collaboration and Growth The conference brought together entrepreneurs, industry experts, and investors, engaging them through the entire duration of the event with an exciting and immersive programme. From thought-pro­vok­ing keynote speeches to engaging panel discussions and hands-on workshops, Podim 2023 offered a diverse range of activities designed to foster innovation, collaboration, and growth. Showcasing Expertise: CMS’s Sponsorship and Engagement at PODIM 2023 For the third consecutive year, CMS attended the PODIM conference as a Unicorn Partner. The extended regional team of driven and highly motivated individuals, including Saša Sodja, Mario Vrdoljak, Maja Živanović, Ronald Filipović, and Nina Valentič, took centre stage as CMS ambassadors during the conference, engaging in numerous one-to-one meetings and informal discussions. As the sponsor of the PODIM conference, CMS had a unique opportunity to showcase its expertise on the increasingly relevant topic of ESG. As sponsors of the programme slot titled "Sustainable Future," CMS led the panel discussion "The Rise of ESG: Reality or Buzz from the Business Perspective," moderated by Ronald Filipčić, CMS's ESG Manager. The panel featured guests representing various sectors, including Tijana Koprivica from Delta Holding representing corporates, Marko Vukelić from BDO Croatia representing financial advisors, and Sonja Radovic-Paul from Codio Impact representing start-ups. Empowering Startups: CMS's Support and Key Takeaways from the Conference Throughout the engaging dialogue, speakers aimed to provide the attendees with practical insights, ranging from advice on initiating sustainability journeys to the importance of non-financial reporting as well as how sustainability can also be a business opportunity for star­tups. Through the CMS equIP programme, CMS actively supports start-ups on their growth journey by offering comprehensive legal services tailored to their needs. This includes navigating regulatory compliance, policy implementation, intellectual property protection, and helping them secure funding. The CMS team compiled their key messages in short video clips, but here are four key takeaways from the PODIM conference that are equally relevant for established businesses as well as start-ups:The legal framework is not ready for technological disruptions. At the bare minimum, start-ups need to have a great product or service to attract investors' attention. Innovation and sustainability have emerged as pivotal elements of future business practices. Building authentic connections with clients is essential if you want them to choose your products or services over your competitor’s.

8 February 2023Our senior dispute resolution expert at CMS Belgrade and CMS Podgorica, Nenad Kovačević, has been promoted to Partner. Nenad Kovačević has been a valuable member of CMS team since 2013. Following his studies and several distinguished traineeship programs with UN and EU institutions in Germany, the Netherlands and Belgium, he joined CMS and has since advised many international clients operating in various industries, guiding them through complex court and out-of-court proceedings to reach the most efficient resolution of their disputes. Nenad assists domestic and foreign clients and represents them in civil litigation, enforcement and criminal proceedings, bankruptcy proceedings, labour-related dispute proceedings, out-of-court disputes, as well as arbitration proceedings. He has extensive experience in complex litigation and arbitration proceedings in both Serbia and Montenegro, as well as in international commercial arbitration cases.  Not only is Nenad a skilled litigator and arbitrator, but he also has an admirable track record as a compliance specialist, assisting multinational companies mitigate risk through effective compliance programmes, anti-bribery and anti-corruption efforts and anti-money laundering activ­it­ies. Nen­ad’s colleague and mentor, Nedeljko Velisavljević, CEE Partner and Head of Dispute Resolution at CMS Belgrade and CMS Podgorica, says: “Nenad has been a hard-working, devoted and committed member of our dispute resolution team for years. His promotion is a great achievement and will serve to drive further the growth of our team and the entire firm.“  “Nen­ad’s expertise and dedication to his clients have made him a trusted advisor and we are proud to have him on board as a Partner”, says Radivoje Petrikić, Managing Partner at CMS Belgrade and CMS Podgorica. “His promotion is a testament to his hard work as a team member and commitment to providing the highest quality legal services to cli­ents.” Con­grat­u­la­tions to Nenad on his new role and continued success at CMS!

New ESG regulations adopted by the European Union applicable to Serbian companies as well

The co-Head of the Real Estate and Construction practice at CMS Belgrade and CMS Podgorica, Marija Marošan, has been promoted to Counsel after more than 12 years of advising international companies on real estate and construction law matters. Marija Marošan started her legal career after obtaining her master’s degree in Land Management from Kunglinga Tekniska Högskolan in Stockholm, in a reputable law office in Belgrade. Since joining the team of CMS in Belgrade in 2013, she has been providing legal support to pre-eminent clients on some of the largest and highly complex and sensitive real estate and energy projects both in Serbia and in Montenegro. Her extensive experience includes advising clients on the property development, sales and acquisitions, leasing, construction (including zoning, permitting, FIDIC and other forms of construction contracts), conversion, etc.  Marija also has an extensive track record with renewable energy and infrastructure projects both in Serbia and in Montenegro and has advised numerous clients regarding real estate and regulatory aspects of the development, operation, and financing of renewable energy and infrastructure facilities, energy efficiency projects, PPPs. Her admirable work and dedication to providing excellent service to clients and her outstanding expertise have led to her becoming the co-Head of the Real Estate and Construction practice at CMS Belgrade and a very prominent member of the Energy and Climate Change team. She shares her expertise and know-how and provides invaluable support to the CMS team in North Macedonia in advising on complex matters of law relevant to various renewable energy projects. We are proud to announce this new step in Marija’s career and wish her continued growth and success within the CMS family!  

The Walt Disney Company, a media and entertainment powerhouse, and Disney DTC EM Limited, have appointed Petrikić & Partners AOD as their data protection representative for their Disney+ streaming service in the Republic of Serbia. Pursuant to Article 44 of the Serbian Law on Personal Data Protection, data controllers that do not have a registered seat in Serbia are required to appoint a representative in Serbia to act as a point of contact for the data protection authority and for data subjects. Since Disney+ streaming service has recently been launched in Serbia, Disney+ customers in Serbia may reach out to Petrikić & Partners AOD for any questions or complaints in relation to the processing of their personal data by the above Walt Disney companies. The appointment of Petrikić & Partners AOD was announced by the Commissioner for Information of Public Importance and Personal Data Protection: Disney DTC EM Limited and The Walt Disney Company Limited designate representative for Republic of Serbia in accordance with Law on Personal Data Protection - Commissioner for Information of Public Importance and Personal Data Protection (poverenik. rs)The contact email address designated for this purpose is datapri­vacy­bel­grade@cms-rrh. com

The team of six competition lawyers from CEE shared the experience from their respective countries on the topic of exchange of sensitive information

Following the successful sale of Delta City shopping mall in Belgrade Serbia, Hystead Limited, a London-based company and investor in the Western Balkans, has signed an agreement to sell Delta City Mall in Podgorica, Montenegro to Israeli company BIG Shopping Centres. Delta City Podgorica is the largest shopping mall in Podgorica and one of the most developed commercial facilities in Montenegro. The transaction value is EUR 95 million. Having advised Hystead Limited in the sale of Delta City Belgrade, CMS Belgrade has been engaged again, together with CMS Podgorica, to provide legal assistance in the divestment of Delta City Podgorica. Full legal support in negotiations and structuring of the transaction and signing of the sales agreement has been provided by the team of CMS experts led by partners Maja Stepanović (Corporate/M&A) and Milica Popović (Banking & Finance). Other team members included partner Ivan Gazdić (Real Estate & Construction) and attorney Tamara Samardžija (Corporate/M&A).

The conference "Serbian Companies on the Changing Power Market" organised by Balkan Green Energy News gathered together numerous players in the renewable energy market. An industry meeting of regional importance On 22 February 2022, leading electricity market experts from Serbia and abroad met in Belgrade to discuss key issues in the Serbian energy sector. The topics were relevant for the entire region. The experts provided insights into both the way the Serbian electricity market would likely develop in the coming years and the opportunities available to various market participants. The conference offered an analysis of the most important challenges facing companies in the course of the energy transition. CMS also relies on innovative advisory products to help its clients benefit from the energy transition. The conference was opened by Serbian Deputy Prime Minister Zorana Mihajlović and Director of the Energy Community Secretariat Artur Lorkowski. CMS was a sponsor and participant of this crucial event for the energy sector and was delighted to be represented onsite by its lawyers Ivan Gazdić, partner CMS Serbia, Georg Gutfleisch, lawyer CMS Austria, and Tamara Kosi, lawyer CMS Slovenia, and Maja Živanović, Business Development Country Head, CMS Serbia, Montenegro and North Macedonia.  One step ahead in the energy crisis The 2021 energy crisis has continued into 2022 causing unprecedented increases in electricity prices across Europe. The Serbian government has put up a rescue parachute for companies and capped the electricity price at EUR 75 per MWh for the period until June 2022. However, it remains to be seen how electricity prices will develop in the medium and long term. In the coming years, the Serbian electricity market will – like the entire region – be affected by other important changes too: decarbonisation and the need to align its business with the Green Agenda; the projected growth in solar and wind capacity; the increasing attractiveness of customers producing their own energy onsite; and the carbon cap tax on exports to the EU. The conclusion was: “The event ‘Serbian Companies on the Changing Power Market’ provided an excellent opportunity for the exchange of information and ideas that are urgently needed to better understand trends in the power market and to remain competitive". The CMS Energy and Climate Change Sector Group provides leading advice products on all aspects of innovative energy, climate change and ESG.

The end of 2021 has brought us amendments of both the Company Act and the Law on Registration Procedure with the Serbian Business Registers Agency. Most of the amendments have been adopted with the aim of either further digitalizing or ensuring more transparency and safety in the business environment in Serbia. Apart from the amendments dealing with procedural or technical matters (e.g. procedure for the correction of technical errors, broadening the category of applicants, etc.), major amendments to the Law on Registration Procedure refer to further di­git­al­iz­a­tion:start­ing on 16 May 2023, the application for the incorporation of a company will only be possible online (electronic application), and decisions of the Registry (to e-administration users) will be delivered to users’ electronic mail­boxes;start­ing on 16 November 2022, certification of a digitized act (i.e. confirmation of its identity with the original) may be performed by at­tor­neys-at-law. Amendments to the Company Act are wider in scope and include, among other things:more detailed procedures for reporting on the transactions involving a personal interest and on forced liquidations;the annulment and the consequences of the annulment of share transfer agree­ments;re­mov­al of the double signature rule restriction for company representatives, as well as the removal of the obligation for a company to have at least one representative that is a natural per­son;pro­hib­i­tion on entrepreneurs using the term “Serbia” in their business name;regulation of the value of the share capital of the company upon its acquisition within the bankruptcy procedure (i.e. a price paid);explicit statement that treasury shares cannot be subject to a pledge. Matters related to institutional investors, asset managers and voting advisers are regulated, but the application is postponed until the accession of Serbia to the EU. However, there are also changes that require harmonization or at least amendments in terms of the current registration regime:Companies must become users of the E-administration platform no later than 26 May 2023;By 26 November 2022, a company’s registered seat must contain an indication of the city, municipality, street, house number, floor, apartment; public joint-stock companies must adopt remuneration policies, keep a record of and report on the remuneration of dir­ect­ors;Start­ing from 1 June 2022, for registration of natural persons (as shareholders, directors, etc.), their gender must be included and registered as well. While digitalization is obviously an inevitable fact and a “one-way street”, it remains to be seen how smoothly the mechanisms envisaged by the relevant amendments will operate in practice.