In August 2024, Montenegro’s government took a significant step towards modernising the country’s gambling industry by adopting the Fiscal Strategy for 2024-2027. This ambitious plan, aimed at ensuring macroeconomic stability and responsible governance, includes substantial changes to the gambling framework that could reshape the sector’s future.

Moravcevic, Vojnovic and Partners in cooperation with Schoenherr has advised Integral Venture Partners on its acquisition of a 50% stake in EsoTron. Karanovic & Partners advised the founders of EsoTron on the sale.

In a recent legal resolution, an author, a mechanical engineer employed to oversee the printing machinery at a prominent publishing house, found himself at the heart of an unexpected ghostwriting controversy.

The Parliament of the Republic of Serbia recently adopted amendments to the Law on Payment Services (“Law”) that will start to apply from 6 May 2025 (“Amendments”). By the Amendments, the Law is harmonised with the EU’s PSD2. The key goal of the Amendments is the enhancement of innovations on the market and securing increased competition and transparency in the area of payment services, as well as better protection of payment services users and payment security. Below we provide an overview of the main novelties brought by the Amendments.

What do Panama, the Netherlands, Latvia, and Serbia have in common? A shipment of over 5,000 high-quality athletic sneakers travelled through these countries before being halted at customs over authenticity concerns.

The Parliament of Albania has recently passed amendments to the Albanian Labour Code (“Code“), specifically regarding employee annual paid vacation entitlements.

The Montenegrin Ministry of Internal Affairs recently implemented a Rulebook on Ultimate Beneficial Owner (“UBO”) Registration, effective from 27 July 2024. It introduces significant changes in how legal entities in Montenegro must manage their UBO information as part of the country’s effort to strengthen its fight against money laundering.

On 14 June 2024, the Serbian Competition Commission (the “Commission”) initiated two proceedings against companies belonging to the Agromarket Group for allegedly implementing notifiable concentrations without obtaining prior approval from the Commission. The acquisitions occurred in 2020 and 2024 and both concern targets located outside of Serbia.

Karanovic & Partners has advised BIG CEE on its acquisition of Promenada Novi Sad from NE Property. LEF Attorneys advised NE Property.

AP Legal has advised Raiffeisen Banka Belgrade on its issuance of MREL-eligible bonds on the Serbian market and their listing on the Belgrade Stock Exchange.

Bosnia and Herzegovina (BH) has embarked on a transformative journey in its energy sector as both Republika Srpska (RS) and the Federation of Bosnia and Herzegovina (FBH) initiated comprehensive amendments of the energy legislative framework in an effort to reshape the country’s energy sector landscape and align the legislation with Energy Community regulations, EU acquis, and international standards and best practices.

Serbian Minister of Finance issued the Rulebook on interest rates that are considered to be in line with the arm’s length principle for the year 2024 (Rulebook).

The European Commission has imposed a hefty EUR 337.5 million fine on Mondelēz International, Inc., the world-famous producer of Oreo, Milka and Toblerone, for restricting cross-border trade of chocolate, biscuits, and coffee products among EU Member States, in violation of EU competition regulations.

On 13 May 2024, the Parliament of Montenegro passed the Draft Law on amendments to the Copyright Law. The entry into force is yet to be announced, but it could be expected after June 2024.

Albania’s real estate market has undergone a significant transformation in the last decade, attracting global attention across the residential, commercial, and tourism sectors. This surge in interest is a result of the country’s economic and legislative reforms, political stability, successful justice reform implementation, and progress in the EU accession process. These factors collectively present investors with promising opportunities in Albania’s dynamic and evolving market.

On 15 February 2024, the Albanian Parliament adopted law no. 18/2024 “On some amendments and addendums on law no. 155/2015 ‘On gambling in the Republic of Albania’, as amended” (the “Gambling Law”). The amendment overturned a five-year ban on sports betting activities in Albania and entered into force on 27 March 2024.

In Albania, renewable energy, start-ups, and gaming all present significant market opportunities according to Partner Anisa Rrumbullaku of CR Partners in cooperation with Karanovic & Partners, with significant changes being implemented that stand to not only revitalize the economy but also create a hotbed for legal expertise.

Karanovic & Partners has advised both parties on Embracer Group's sale of Saber Interactive to Beacon Interactive in a deal worth USD 247 million. Baker McKenzie reportedly advised the Embracer Group.