Legal 500 has been analysing the capabilities of law firms across the world with a comprehensive research programme designed to provide the most up to-date vision of the global legal market.

In addition to being ranked as a firm across the board, we are also proud to say that a number of members of our team have been ranked as recommended individuals by Legal 500. Senior Partner Nenad Stankovic, for example, has been acclaimed as a leading individual in the field of dispute resolution, while the work of Counsel Sara Pendjer in dispute resolution matters has also been highlighted in the next generation partners table. In addition Associate Tijana Milisic has once again been recognised as a rising star in the field of Commercial, Corporate and M&A.

The firm’s hard work and commitment to high-level client service is reflected by our overall rankings in Tier 2 for dispute resolution, and Tier 3 for banking and finance; commercial, corporate and M&A; competition; employment; intellectual property; projects & energy; and real Estate & construction.

Most importantly, however, are the many positive comments that were received from our clients during the research process, including that the team was ‘Ready to address every single project with a fresh perspective. They are always reachable and responsive, and show clients on a daily basis how important the client and the matter is to them.’ Also ‘The collaboration and connection they create with the client distinguishes them. Easy communication, great value for money, and very well-educated staff with high-level knowledge of local practices.’ It is good to know how much our clients appreciate the firm’s work.

The IBA’s “Cross-border enforcement of judgments against states – jurisdiction-by-jurisdiction guide”, which was published on 12 March 2024, covers 47 jurisdictions globally and is intended to outline the key requirements for enforcing a foreign judgment against a state entity. It contains essential insights into the complex realm of cross-border enforcement of judgments against states, including issues relating to the enforcement of a foreign judgement against a state in a another jurisdiction, state immunity, due process standards, service requirements and enforcement against state-owned property assets and the property of state-owned entities.

The firm’s involvement in this prestigious project underscores our commitment to providing clients with leading expertise in cross-border matters. As co-authors, we also believe that we have contributed to a resource that will serve as a valuable reference point for legal professionals worldwide who are grappling with the enforcement of judgments against states in diverse jurisdictions.

The link to access the publication on a jurisdiction-by-jurisdiction basis is available on the IBA’s website at https://www.ibanet.org/Cross-border-enforcement-of-judgments-against-states.

We are delighted to announce that once again Stankovic & Partners has been ranked highly in the Chambers Europe Guide! Published by Chambers and Partners on 14 March 2024, these prestigious rankings acknowledge the leading law firms and outstanding legal practitioners across multiple practice areas worldwide.

The NSTLAW team has again been recognised as a leading firm in Dispute Resolution, with Senior Partner Nenad Stankovic receiving a band 2 ranking, and Counsel Sara Penđer being ranked in band 3 in this field. We are also pleased to say that Nenad Stanković has been ranked in Corporate/Commercial: Real Estate, receiving a band 2 ranking, and in Employment, receiving a band 3 ranking.

Rankings are determined by client feedback received by Chambers and Partners, together with broader market feedback on teams. We are beyond pleased that our hard work has been recognised by our clients who expressed satisfaction with the exceptional service and responsiveness provided by the Stankovic & Partners team. One of our clients praised our team saying, “Very few law firms can offer that level of commercial awareness and grasp of practical issues that we find in Stankovic& Partners’ team. This is one of the main reasons that it remains our adviser of choice in the region.”

Prioritising excellence in client service is fundamental to our work at Stankovic & Partners, making it immensely gratifying to receive such accolades from both our clients and peers.

As part of its clampdown on public procurement bid rigging, the Serbian Commission for the Protection of Competition (CPC) recently handed down a decision in a bid rigging infringement case, for the first time ever reducing the fine after establishing that the conditions in an application for leniency submitted during the course of the proceedings had been met.

An analysis of the facts of the case led the CPC to conclude that the infringement had been intentional, which it weighed against the fact that the company had given its full cooperation in the investigation.

The application for leniency was filed on the same day as the dawn raid was carried out, and provided the Commission with information that had not been available prior to the initiation of proceedings. This pertained to the company’s specific business model and the role of a particular individual within the company in colluding with the other party involved.

As a consequence of this, the fines of the two parties to the restrictive agreements differed by more than 50%,

It is worth pointing out that the CPC established that three different restrictive agreements had been concluded in connection with three separate public procurement exercises, but that these, in fact, represented a single and continuous infringement, once again applying this well-established doctrine under EU competition law.

This case underlines the importance for companies of conducting effective internal audits relating to their day-to-day business operations, especially with regards to dealings with suppliers and customers. Audits should be followed up with regular compliance training programmes in order to raise awareness of the importance of competition rules for all businesses, whatever their sector.

NSTLAW proudly announces the appointment of our Senior Partner, Nenad Stankovic, as a board member of the Legal Netlink Alliance. Nenad has been an active member of LNA for 10 years, and has achieved this prestigious milestone at the recent reunion hosted in Malta. Legal Netlink Alliance provides for the unique opportunities to legal professionals, facilitating the exchange of experiences, sharing of legal practices, and the cultivation of meaningful friendships on a global scale.

Reflecting on his membership, Nenad expressed his deep gratitude for the enriching experiences within the LNA community. He emphasized the importance of fostering international connections and understanding diverse legal perspectives. As a testament to this commitment, Stankovic and Partners eagerly look forward to the next chapter in this global legal journey by organizing the upcoming LNA event in Belgrade. The firm is thrilled at the prospect of hosting colleagues from around the world, confident that this event will further strengthen the bonds forged through the LNA, promoting collaboration and knowledge exchange among legal professionals on an international stage.

Excited to start the year in the company of our long-time friends in the Legal Netlink Alliance. In February we meet in Malta and take time to put so many legal brilliant minds together, as our colleagues will join from many different countries in Europe and around the world. They bring with them top-notch expertise in tens of practice areas and the unique LNA spirit. Looking forward to the agenda prepared by our hosts, the law firm GTG.

At the end of 2023 US President Joe Biden signed into law The Foreign Extortion Prevention Act (FEPA), which brings about major changes to global anti-corruption protocols.

FEPA enables US prosecutors to bring criminal charges against any “foreign official” who seeks or accepts a bribe from a company or individual conducting business in the US, even when the unlawful activity occurs outside US borders.

The key innovation is that FEPA addresses the “demand” side and criminalises making requests for, and accepting, bribes. This law also expands the definition of a “foreign official” to cover all formal and informal employees and agents of foreign officials, including those working in an unofficial capacity. In addition FEPA encourages companies to report to the US Department of Justice any requests or demands for bribes made by foreign officials and their agents.

Although the old Foreign Corrupt Practices Act (FCPA) is regularly utilised to penalise US-based individuals and companies that engage in bribery or other corrupt practices for the purposes of influencing foreign officials, until now there has been no means of taking legal action against foreign officials who receive or solicit bribes.

The penalties under FEPA go up to a maximum of $250,000 or three times the amount of the bribe received, as well as up to 15 years in prison.

It seems that FEPA is set to transform and further expose the global culture of corrupt practices, especially in those nations with US investments. The question of whether Europe will also embrace these practices and their likely impact on the Western Balkans remains open.

On 13 October 2023 a new regulation governing solar and wind power plants’ connection to Serbia’s transmission and distribution system came into effect. This update brings significant changes to the process of connecting new power generation facilities.

For initial connections, in addition to the construction permit, a connection feasibility study and agreement must now be drawn up. Submission deadlines for connection studies have also been defined, with the Serbian Transmission System Operator (EMS) conducting studies biannually. It is important to highlight that the first connection study period begins on 20 December 2023, with a submission deadline of 1 December 2023. In addition, connection studies can become invalid if certain conditions have not been met, including a failure to provide an investor bank guarantee within 60 days in order to ensure the timely conclusion of contracts, approvals and construction.

On another note, deposit requirements based on capacity have also been introduced, with varying set fees for different capacity levels.

Once approval for connection to the transmission system is granted, this can now be issued for a three-year period and can also be extended once for up to two additional years if requested by the investor.

In summary, these regulatory changes are expected to streamline the process of connecting power generation facilities to the grid and are designed to bolster the security and reliability of Serbia’s electrical energy supply.

Recent amendments to the Regulation on Clinical Trials of Medicinal Products in Human Medicine have recently been adopted and take effect from 11 October 2023. These mainly involve changes to the provisions that regulate the requirements governing the status of Principal Researcher, as well as introducing new obligations for clinical trial sponsors.

Sponsors must now – in addition to other essential documentation – submit a document to the Agency for Medicines and Medical Devices of Serbia (ALIMS) entitled “Institutional Consent in accordance with the statute to conduct research in the healthcare institution” in order to gain approval for clinical trials. This must include a statement that the proposed Principal Researcher meets the requirements set out in these latest amendments.