JPM has advised C.D Holding Internationale SAS, Groupe UP on its entrance into a partnership with the current owners of Serbian company Emergo Sport, which operates under the FitPass brand. Emergo Sport was advised by Bojovic Draskovic Popovic & Partners.
According to JPM Senior Partner Jelena Gazivoda, Serbian law firms are doing well these days. "We are all very busy these past few months, which is good,” she says. "Notwithstanding the fact that there are different comments in newspapers, we are not really feeling any bad signs. In fact, we are all participating in some significant transactions, making us really busy.”
As of 1 January 2019, the National Bank of Serbia (“NBS”) took over the competencies of the Ministry of Finance and its department Tax Administration for issuance and revocation of licences to perform exchange operations. The NBS also took over the supervision of foreign exchange operations of Serbian residents and non-residents, being natural persons, entrepreneurs and general legal entities. The NBS adopted several decisions in order to execute the delegated competencies:
The Serbian Parliament adopted the Law on Financial Collaterals on 8 June 2018, which will become effective as of 1 January 2019. To implement the solutions from the Law on Financial Collaterals, the Serbian Parliament also adopted amendments to the Bankruptcy Law, which will enter into force on 1 January 2019.
JPM advised Organigram Holdings Inc., the parent company of Organigram Inc., a licensed producer of medical marijuana in Canada, on a private placement investment in Eviana Health Corporation. Organigram and an unnamed strategic institutional investor each participated 50% in a USD 10 million debenture offering by Eviana.
Serbian Government took a significant step towards harmonization of data protection regulations with GDPR. On September 24, the Government adopted a Bill on Personal Data Protection (“the Bill”) . Only a day after, the Bill was sent to the National Parliament to be adopted at first regular session in autumn starting from October 2018.