The financial ramifications of the COVID-19 pandemic and the state of emergency in Serbia have hit the Serbian economy hard, leaving virtually all businesses apprehensive about their liquidity. A question now being posed across the business spectrum is how to collect receivables owed for sold goods or services rendered? Creditors have several options at their disposal. Enforcement proceedings In most cases, suppliers or service providers collect receivables falling due before courts in enforcement proceedings. To initiate enforcement and collect their receivables, creditors must possess either an enforceable instrument or a credible instrument as defined in the Enforcement and Security […]
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The COVID-19 pandemic and restrictive measures implemented by states worldwide have led to the effective “lockdown” of local, regional, and global commerce. Bans on free movement, assembly and doing business (except for the “lucky few” in essential industries) burdened national economies and generated enormous losses in the private sector. In a way, by choosing to save human lives, states, Serbia included, had to sacrifice their economies. However, though public health measures may have been justified, their implementation left the state exposed to the risk of claims for damages by business hemorrhaging capital. Claims for damages by foreign investors and capital-owners, […]
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As worldwide lockdowns slowly recede and many of us, including courts, claimants and respondents, step back out of quarantines, we will be “greeted” by a plethora of complex litigation issues. The large number and complexity of these issues will require all sides to put in place even more sophisticated strategies to tackle the ensuing litigation onslaught. According to Harold Kim, the president of the U.S. Chamber Institute for Legal Reform, “[t]his early litigation is really, from our vantage point, the tip of the iceberg”. Cue May 6, 2020: Serbia rescinded the almost two-month-long state of emergency and relaxed […]
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Since the introduction of the state of emergency in Serbia on March 15, 2020, the Government issued a number of decrees restricting certain human rights and freedoms, such as freedom of assembly, and providing novel regulatory framework for functioning of the public sector, economy and judiciary during the state of emergency. While the primary goal of those measures was to protect public health, they also had the broader economic protection of citizens in mind, be it employees, unemployed persons or senior citizens. However, the favorable epidemiological situation in Serbia enabled – and the needs of the economy necessitated – […]
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Since the introduction of the state of emergency in Serbia on March 15, 2020, its judiciary has virtually been on a two-month hiatus. Back on March 19, 2020 the High Judicial Council (“HJC”) adopted the Conclusion postponing all court hearings until the cessation of the state of emergency, save for such proceedings where delays were not possible. However, seeing that the National Assembly voted to rescind the national state of emergency on May 6, 2020, the HJC quickly jumped to action and issued a new conclusion on May 7, 2020, declaring that conditions were met for normalization of work […]
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With the state of emergency declared on March 15, 2020 and the discernible impact of the COVID-19 pandemic on Serbian industry, the authorities are trying to navigate the crisis as best as they can to help the Serbian economy survive. The key to this effort is preserving the stability of public finances, which may be done by revoking earlier incentives given to certain industry branches. For instance, the authorities might decide to discontinue subsidies offered to privileged electricity producers in order to preserve the economy. But what would be the consequences of such measures? Subsidies in the energy sector […]
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Since the declaration of the state of emergency in Serbia on March 15, 2020, authorities have issued a number of decisions aimed at maintaining order and preventing the collapse of the economy and the judicial system. One of the protective measures announced on March 24, 2020 was the Government Decree concerning time limits in administrative proceedings during the state of emergency (“Decree”). What does the Decree impose? The Decree provides crucial guidance regarding time limits in administrative procedures. First off, the Decree stipulates that parties to administrative proceedings before state bodies, bodies of local self-government units, provincial bodies, as […]
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Since the escalation of the COVID-19 pandemic and the declaration of the state of emergency in Serbia, many people have been left wondering what this situation means for their everyday life. Should they expect enforcement proceedings to be initiated for that unpaid utility bill? Will parties be able to conclude and solemnize the sale and purchase agreement of real estate? And what about bankruptcy proceedings initiated over a company – will they be able to go on unhindered? These and similar questions are very important for citizens as well as businesses. Luckily, the Ministry of Justice (“MoJ”) anticipated these questions […]
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Acting on the Ministry of Justice Recommendations regarding the work of courts and public prosecutor offices during the state of emergency declared March 15, 2020, the High Judicial Council rendered a Conclusion setting down cases that are to be heard as a matter of priority. Namely, hearings are adjourned starting from March 19, 2020 until the state of emergency is lifted save for the following priority cases. In criminal law matters: hearing custody applications; Concerning crimes of “Illegal Trade”, “Failure to Act Pursuant to Health Regulations During an Epidemic” and “Transmitting Contagious Disease “; Against juvenile offenders, or where the […]
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The Ministry of Justice of the Republic of Serbia announced the Recommendations for the work of the courts and public prosecutor’s offices during the state of emergency declared on March 15, 2020. The Recommendations further clarify what is meant by “reduced work of the courts” as mentioned in the statement given by Nikola Selaković, the secretary general of the President and the former Minister of Justice. The Ministry of Justice made their twelve-point recommendations. We highlighted points of greatest importance to potential and current parties in judicial processes so that they can realistically evaluate if and how a court or […]
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We are pleased to share the TerraLex Coronavirus Business Response Resource Center with you. It is a compilation of business solution resources from TerraLex members, some of the finest and best ranked firms, from around the globe relevant to contracts, labor, business continuity, etc. TerraLex and its members understand that in the rapidly evolving challenges posed by coronavirus and the prospect of recessionary times ahead, businesses are struggling with a variety of issues and looking to their trusted advisors for help. This Resource Center functions just like our cross-border guides. Visitors can select specific topics of interest and specific jurisdictions […]
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No industry branch world-wide is likely to escape the negative consequences of the COVID-19 pandemic. However, the pandemic will also disrupt the due course of international commercial and investment arbitrations, as well as litigation before national courts, including those in Serbia. International Arbitration As the name suggests, international arbitration is not confined to the territory of a single state. Parties, arbitrators, counsel and witnesses routinely come from different countries. Under normal circumstances, the parties would all meet for hearings at one place, and given the common preference for neutrality, usually at a venue that is foreign to all parties. […]
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