Dispute Resolution

Dispute resolution is at the very core of our firm’s practice since our establishment. Founded in 1994 by former judges, the firm is home to highly accomplished advocates and litigators. Our team of experienced attorneys represents clients before the Serbian courts at all instances, including acting in major, high-value commercial disputes before the Commercial Court, and in high-profile white-collar trials before the High Court. We have significant experience in ADR – acting before domestic and international tribunals in various arbitral proceedings (LCIA, ICC, SCC, PKS) as well as experience in investment-treaty arbitration (ICSID, ad hoc UNCITRAL). Our experience also includes acting in matters before the European Court of Human Rights and in relation to EU matters before EU institutions. We have extensive appellate experience before courts of all instances, including the Supreme Court of Cassation – having participated in precedent-setting decisions which have shaped our legal practice. Furthermore, we represent our clients in contentious matters before various regulatory authorities and have litigated hundreds of tax disputes for our clients.

While swift and aggressive litigation tactics can often bring the best results in a number of cases, a significant number of matters tend to be favourably resolved for our clients by well-planned and executed negotiation and mediation tactics. With multi-layered strategic early action, and if needed, with carefully planned aggressive pre-emptive attacks, we have brought about many successfully negotiated settlements for our clients.

Winning the case for our clients is sometimes not enough unless effective enforcement is achievable. Whether this means recouping litigation or arbitration costs, collecting awards and judgments or enforcing other instruments. We advise both creditors and borrowers in various enforcement matters; and have a successful track record of achieving results for our clients.

In international matters requiring local or international counsel to support our efforts, we regularly act together with the leading law firms, barristers, and advocates before various international tribunals, regulatory organs, arbitral tribunals, state authorities or in joint cases before courts in different jurisdictions.

Recent representative matters in White-collar Crime:

  • Acting as lead counsel for a leading regional conglomerate and their executives in a major high-profile, decade long, EUR multimillion, white-collar investigation, trial and appeals process, dubbed by the representatives of the government as the “greatest case in history of the judiciary” concerning the privatization of certain infrastructure sector companies and financial operations in relation to the privatized entities, before the special department of the High Court and Appeals Court in Belgrade (Conglomerates)
  • Acting as lead counsel to executives in a major white-collar matter focusing on EUR multimillion alleged abuse of office with respect to a major industrial company (Industrials)
  • Acting as lead counsel for multiple defendants in a high-profile white-collar matter before the Special Department of the High Court in a 40-defendant major privatization, fraud and political corruption EUR multimillion matter in the agriculture/industrial sector (Industrials, Special Court)
  • Acting as lead counsel for various defendants in a high-profile EUR multimillion customs fraud and corruption matter with more than 30 defendants, before the Special Department of the High Court in Belgrade (Customs & Trade, Special Court)
  • Acting as lead counsel for various defendants in a white-collar corruption/fraud matter before the Special Department of the High Court in Belgrade in relation to alleged agriculture sector abuses in the privatization/procurement of major land masses (Privatizations, Special Court)
  • Acting as lead counsel for the companies and executives in a major high-profile TMT sector white-collar proceedings before the Prosecutor for Organized Crime alleging EUR multimillion fraud/abuses involving state-owned companies (Media, Special Prosecutor)
  • Acting as lead counsel in a major fraud/abuse of office case brought against a top-level executive at a state-owned TMT company, alleging a multimillion abuse scheme (Media, High Court)
  • Acting as lead counsel to a top level ex-political stakeholder subject to white-collar fraud/abuse charges in front of the High Court in Belgrade (Political Corruption, High Court)
  • Acting as lead counsel to an injured party – a leading regional business owner – in high-profile criminal proceedings (High Court)
  • Acting as lead counsel to an executive to a company member of a leading global payment franchise in white-collar proceedings alleging anticompetitive behaviour (Finance & Banking, First Instance Court)
  • Advising and acting for a leading domestic and major European telecommunications conglomerate in proceedings to report criminal anticompetitive behaviour of other market participants in the TMT sector in the Balkans (Telecommunications/Competition, High Prosecutor)
  • Advising the defendants in one of the largest and most high-profile medical negligence case brought recently in Serbia (Medical malpractice)
  • Advising and acting as lead counsel for the companies and company executives and shareholders in a major, decade-long EUR multimillion white-collar proceedings brought for alleged abuses/fraud in the privatization of a large industrial food sector conglomerate (Privatization/Industrials, Higher Court)
  • Acting as lead counsel with respect to multiple large-scale alleged EUR multimillion customs fraud and tax fraud matters tied to the operations of an international trading group (Customs & Trade, High Court)
  • Advising and acting for a regional financial services company, part of an international finance group with respect to white-collar and regulatory proceedings and investigations in relation to their local market activities (Finance, High Prosecutor, Regulatory)
  • Acting for a leading mobile operator and telecommunication company (EUR 1b.+ enterprise), its shareholders, managers and group companies in relation to an expropriation claim, denial/revocation of licenses and retrospective taxation issues (Telecommunications, Regulatory)

Representative matters in Commercial Dispute Resolution & ADR:

  • Acting for the founder and ultimate beneficial owner of major CSEE consortium (EUR 6b.+ revenues), the several holding companies in the holding chain, and other minority interests in a number of related proceedings across the Balkans and in Europe, all tied to a special restructuring/intervention law legislated for the company (Conglomerates, International Litigation & Arbitration)
  • Participating in three related finance sector investment treaty disputes against Croatia, concerning a government intervention in connection with the conversion of foreign currency loans (ICSID, Finance & Banking)
  • Counsel for Dutch companies in a high-profile litigation concerning a regional conglomerate with 6b.+ EUR turnover and voidability of contracts concerning assets exceeding 500m.+ EUR (Conglomerates, Commercial Court)
  • Advising the respondent in a multimillion telecommunications ad hoc arbitration concerning a failed joint venture with an Asian government entity (UNCITRAL Rules, Telecommunications)
  • Advising a government in an expropriation claim by an energy sector investor (LCIA Rules, Oil & Gas)
  • Advising the investor in an agricultural expropriation claim in an African country (ICSID, Agriculture)
  • Acting for the respondents in a 70 million EUR guarantee & indemnity claim (LCIA Rules, Commercial)
  • Advising the respondent in an English law dispute concerning a large pan-European real estate joint venture (LCIA Rules, Real Estate)
  • Advising a subcontractor on claims against the main contractor in relation to major (1b.+ EUR) construction project (ICC, Construction)
  • Acting as lead counsel for a leading telecommunication company in a EUR 110m.+ Commercial Court dispute related to the ownership rights and various claims related to the construction of the optical cable network (Telecommunications, Commercial Litigation)
  • Acing as lead counsel for the leading road construction company in a EUR multimillion guarantee and damages claim in the Commercial Court, with respect to a large road infrastructure project with the government (Construction & Infrastructure, Commercial Litigation)
  • Advising on an investment-treaty matter concerning a claim in the energy sector against a Balkan state (ICSID)
  • Assisting the Claimant with an investment-treaty matter against a Balkan state concerning denial of justice and retroactive application of the law (ICSID, Regulatory)
  • Advising a medical company concerning a 20+ million claim against a state-owned company for supply of medical goods (Commercial Litigation, Pharmaceutical)
  • Acting for a start-up founder in relation to a EUR multimillion shareholder dispute involving insolvency, restructuring, litigation proceedings as well as US data privacy & confidentiality matters (multi-jurisdictional) (Technology)
  • Acting as counsel for an international hotel development group in a 6 million EUR commercial dispute arising from a JV investment agreement (Commercial Litigation, Real Estate/Hospitality)
  • Advising a large international investment group on a potential claim against the state due to breach of FET/denial of justice arising from various proceedings related to a gas sector asset in Serbia (Austria-Serbia BIT) (Oil & gas/Real Estate)
  • Acting in a high profile regulatory and civil investigation and proceedings involving international sanctions against several international trade companies and their beneficial owner (OFAC, OFSI, Regulatory)
  • Acting for an international financial sector company in relation to a potential regulatory investigation in relation to their activities in Serbia (Banking & Finance, Regulatory)
  • Acting for a Cypriot investment entity in a EUR 50 million commercial dispute (LCIA Rules)
  • Acting for a major media company in a USD 50 million commercial dispute (ICC Rules)
  • Acting for a Cypriot investment fund in a USD 30 million commercial dispute (ICC Rules)
  • Acting for a Serbia major media company in an USD 20 million commercial dispute (Zurich Chamber of Commerce)
  • Acting for an Eurasian-based telecommunication and trading company against a government owner postal service in an USD 80 million claim (Zurich Chamber of Commerce)
  • Acting as lead counsel for a leading retail company in a number of contentious commercial matters including multimillion damages claims arising from the commercial contracts, ownership/land possession disputes pertaining to key assets, and termination/repudiation contractual disputes (Retail, Commercial Litigation)
  • Acting as lead counsel for a major media sector investment family office in relation to EUR 10m.+ commercial and enforcement disputes (Media & Marketing, Commercial Litigation)
  • Acting as lead counsel for a family office investment company in a EUR multimillion dispute arising from the termination/breach of a joint venture agreement (Commercial Litigation)
  • Acting as lead counsel to an international investor in a 5m+ EUR commercial and enforcement dispute arising from the termination of a JV development agreement concerning a hospitality project in Serbia (Real Estate, Commercial Litigation)
  • Advising a major regional road construction company in relation to claims under the relevant contractor agreements in a large-scale road network development project with the government/government entities (Construction & Infrastructure, Commercial Litigation)
  • Acting for a leading regional oil company in EUR multimillion commercial and enforcement disputes (Oil & Gas, Commercial Litigation)
  • Advising a regional construction company on their standard construction contracts and advising on specific construction projects in the commercial sector (Construction, Commercial & Corporate)
  • Advising a leading domestic journalistic organization with respect to real estate ownership disputes on prime real estate in central Belgrade (Real Estate, Civil Litigation)
  • Advising and acting as counsel in relation to an ICSID case against a regional state, with respect to energy sector claims by an alleged JV investor from Slovenia (EUR 1bil+) (ICSID)
  • Acting for a leading local banking institution in EUR multimillion enforcement proceedings (Commercial Litigation, Banking & Finance)
  • Advising and acting for a large regional conglomerate focusing on energy, real estate and international trade on a number of commercial, corporate as well as contentious matters concerning company structures, bills of exchange and promissory notes, loan facilities, claims for damages, tax disputes, and international dealings with international lenders of the group, with the total value exceeding several hundred million EUR (Energy/Real Estate, Corporate & Commercial, M&A/Commercial Litigation)
  • Advising a large local logistics company managing port facilities on a number of commercial disputes (Industrials, Commercial Litigation)
  • Advising a leading Serbian tobacco industry company on a number of contractual and transactional matters in relation to its international trade dealings (Industrials, Commercial & Corporate)
  • Advising a leading Serbian tobacco industry company on a number of civil and commercial contentious matters before the Serbian courts (Regulatory, Civil & Commercial Litigation)
  • Acting as lead counsel to a major corporate (EUR 1b.+ in assets) on a plethora of civil and commercial matters before the courts and regulatory authorities, including tax administrative proceedings and various enforcement proceedings arising from civil and commercial claims (Multiple courts & Regulatory authorities)
  • Acting as lead counsel to a major regional alcoholic beverages industry company on several related property ownership disputes concerning key assets of the company (Commercial Litigation/Civil Litigation)Lead counsel to a major foods manufacturing conglomerate on a number of civil disputes before the Serbian courts (Industrials, Civil Litigation)

Representative experience in disputes involving states, state-owned entities, and contentious regulatory matters:

  • Advising the largest Serbian-based construction company on various regulatory proceedings initiated before the Serbian authorities (Construction, Regulatory)
  • Acting as lead counsel to a Cypriot investment entity and local SPV in relation to various tax related regulatory disputes EUR 8m.+ (Tax, Administrative Court, Tax Authority)
  • Advising a major media & telecommunication group on a EUR multimillion contentious regulatory and tax matters before the Serbian authorities (Telecom & Media, Regulatory/Tax)
  • Acting as lead counsel to a local investment entity in relation to a multimillion tax dispute (Tax, Administrative, Tax Authority)
  • Acting as lead counsel to a Serbian investment SPV in a proceedings for enforcement of tax obligations and court challenges to the multimillion tax orders (Tax, Administrative, Tax Authority)
  • Acting as lead counsel to a local film development company in relation to proceedings for enforcement of tax obligations and court challenges to the multimillion tax orders (Tax, Administrative, Tax Authority)
  • Acting as lead counsel to a leading regional conglomerate investment SPV in relation to various tax proceedings (Tax, Tax Authority)
  • Acting in a set of related disputes involving a major international electricity trading company, covering Bosnia and Montenegro and various issues with the states and state authorities (Energy, Multijurisdictional)
  • Advising a multinational car manufacturer in relation to regulatory issues and contentious negotiations with the government (Automobile Industry, Regulatory)
  • Acting for a leading mobile operator and telecommunication company, its shareholders, managers and group companies in relation to an expropriation claim, denial/revocation of licenses and retrospective taxation issues (Telecommunications, Regulatory, White-Collar)
  • Acting for one of the largest state-backed real estate conglomerates in arbitral, corporate and taxation matters, in total exceeding several hundred million EUR (Conglomerates, Real Estate, Commercial & ADR)
  • Advising a bank in relation to contentious regulatory and tax issues (Banking & Finance, Regulatory /Tax)
  • Advising a Cypriot investment fund in relation to a regulatory and tax dispute with the state (Finance, Regulatory / Tax)
  • Acting for major Serbia real estate holding company in relation to various regulatory disputes (Real Estate, Regulatory)
  • Acting for a Cypriot investment holding company in EUR multimillion arbitral proceedings against a state-owned company (ICC)
  • Acting for a wholesale banking institution in relation to its organization, business relations and regulatory issues with the state, as well as advising in relation to on-going investigations, disclosure orders and potential white-collar proceedings (Multijurisdictional, Banking & Finance)
  • Acting for a construction company in relation to EUR multimillion debts owed by the Serbian national energy company (Energy, Construction)
  • Acting for a French food and beverage conglomerate in relation to contentious negotiations with the state for the privatization of a state-owned enterprise (Food Industrials, Projects, Mediation)
  • Acting for a number of legal entities in an energy sector in a number of claims against the Serbian national energy company (Energy, Civil & Commercial)
  • Acting for a Serbian bank in a dispute with the state concerning the revocation of its licences (Banking & Finance, Regulatory)

White-collar Crime & Criminal Litigation

We have a highly developed white-collar criminal practice and our firm is home to attorneys that have acted as defense counsel in numerous high-profile matters in the Balkans.

We have represented major local companies and international corporations, senior executives, owners, shareholders, managers, and individual entrepreneurs in a broad range of complex and typically high-impact white-collar criminal matters – at all stages (from the pre-investigation to court litigation) and at all instances (from basic to the highest courts in the country).

Our litigators have handled Serbian and regional cases focusing on inter alia, money laundering, tax evasion, fraud, corruption offenses, abuse of office in private companies, abuse of official position, insider dealing, accounting fraud, customs fraud and further, in various sectors including banking and finance; construction; insurance; energy; healthcare; shipping; general commerce & trade; public services; automotive; foods & agriculture; and others.

We regularly represent and advise internal company organs and committees on internal investigations flowing from regulatory or governmental inquires. We provide initial risk assessment reports and anticipate possible outcomes for our clients further to the initial steps of the regulatory or government agencies.

The office has a record of considerable success in white-collar matters involving cases conducted by the Prosecution for Organized Crime, the Public Prosecutor’s office (of all instances), the Tax Authority and Tax Police and further, having obtained significant acquittals/dropping of charges in many high-profile matters.

Defending our clients is not limited only to the courtroom, but we aim to devise a full strategy, capturing the client’s important business issues and to address the various consequences flowing from the pending or ongoing proceedings.  This frequently means dealing with the court of public opinion, devising smart and efficient strategies and implementing them in the media and other relevant stakeholders.

We frequently encounter cross-border elements in cases against international companies or their managers. We regularly advise on such matters and provide comprehensive advice as to the numerous consequences of white-collar proceedings like asset seizures, witness questioning, evidence gathering and other interim measures.

Decades-long experience in tough negotiations, settlements and pre-trial strategies have brought many successes to our clients in resolving the matters with the government authorities or private prosecutors outside of the courtroom. Sometimes, our intervention brings about the full dropping of the matter by the prosecutorial authority in the pre-investigation or investigation stages of the criminal proceedings.

Sectoral experience in white-collar matters:

  • Banking & Finance
  • International and cross-border investments
  • Mergers & Acquisitions
  • Loan Market Transactions
  • International Trade, Customs and Transport
  • Infrastructure and Construction
  • Privatizations
  • Energy, Oil & Gas
  • Insolvency & Restructurings
  • Media
  • Government, political & regulatory office abuse

Economic offences & other crimes

Apart from typical white-collar matters, our experienced team has decades-long experience in investigations, criminal defense in economic, political function-related and other types of criminal matters. Our team which includes former members of the judiciary and career criminal lawyers have acted for various clients in a plethora of economic and other criminal matters as defense counsel, private prosecutors, and representatives of the injured parties. In the recent years, our attorneys have handled a number of high-profile cases concerning money laundering, competition law crimes and offences concerning public officials.

Representative experience:

  • Offences against property rights, including intellectual property.
  • Crimes in public / official office
  • Drug-related offences
  • Customs offences
  • Other economic offences
  • Offences against public security
  • Offences against public health
  • IT offences
  • Environmental offences
  • Labor law offences
  • Offences against individual reputation
  • Offences against public authorities
  • Offences against the person
  • Human rights & international criminal law

Commercial Dispute Resolution

The office is renowned for capability in commercial litigation, having represented clients in some of the region’s largest and most complex disputes, including multi-million EUR domestic commercial disputes, cross-border and international commercial litigation, corporate and shareholder litigation, banking and finance litigation, high-profile insolvency and restructuring litigation, high-impact settlements, complex appeals and Supreme Court precedent-setting cases. Our specialty is difficult, complex, and matters that require the highest level of expertise and quality of service.

Recognizing our successes and expertise, our litigation clients include regional, international, and local leading companies and entrepreneurs who engage us not just as their trial counsel, but as board level and shareholders’ advisors on how to navigate the pre-dispute and pre-trial matrix.

From the post-transitional period in the Balkans, through the financial crisis, post-financial crisis funding issues, to current markets – we have advised and navigated commercial disputes for our clients in various market cycles and different economic conditions and sought to play the most important role for them in their high-impact matters.

The firm delivers effectiveness, efficiency, intensity and creative legal advice for the most difficult problems our clients face. We deliver our legal services not in a vacuum, but within the matrix of the broader issues that require attention – business, strategic, financial and other matters. In the past, we have been asked to step in many times where others have failed. Our litigation attorneys, knowledgeable in the peculiarities of the Serbian and international legal system, have fought and won battles that seemed lost for clients.

This extensive experience allows our litigators to regularly serve as risk advisors to individuals and corporates on various matters before the civil process has begun. The attorneys advise boards and senior managements at critical points where decisions that need to be reached are of high impact to the business. We are often the counsellors of choice in corporate and advisory matters where our opinions are directed on how to reduce risk of future litigation.

Representative experience:

  • Contractual disputes
  • Disputes arising from mergers and acquisitions
  • Shareholder and securities related disputes
  • Corporate disputes; claims against management, owners; joint venture disputes
  • Construction, projects, and infrastructure disputes
  • Creditors’ claims and financing related disputes
  • Insolvency and restructuring disputes
  • Banking litigation
  • Breaches of confidentiality
  • Asset seizure; interim measures, enforcement
  • Cross-border trade
  • Property, land ownership and leases
  • IP litigation
  • Media litigation

Commercial & Investment Arbitration

Having built our office around the core practice of dispute resolution, our attorneys have decades-long experience in arbitration – both domestic and international.

Our attorneys have had the opportunity to work on international and investment-treaty arbitrations across the world – and have significant experience in the major institutional rules such as LCIA, ICC and SCC, as well as ad hoc arbitrations.

As a firm with significant experience in acting against states, state authorities and state-controlled entities, we have experience in acting for investors in investment-treaty cases brought under ICSID and UNCITRAL rules.

In large international cases we frequently act together with our international partners who are leading international law firms and barrister chambers.

Disputes involving states & state-controlled entities

The overtly important role of the state authorities in various economic activities in the Balkans have exposed investors, local and international investors to contentious dealings with states, state authorities and other government-controlled entities.

Our team has extensive experience dealing with dispute resolution matters involving such parties. Recognizing the particular risks and idiosyncratic pressures which may arise in relation to such disputes, our team has developed effective tactics to deal with these matters. Where others have chosen defeat, we have achieved victories for our clients – from litigation to arbitration, contentious negotiation and mediation – in matters where the counterparty has almost unlimited resources.

We are well known as the go-to team to resist government pressures, regulatory overreach, state-interventions, and unfair treatment of investors and for any matters which have become politically charged or particularly relevant.

The approach we take is one of law coupled with specialist strategies which may include aggressive or defensive pre-emptive actions in other relevant segments such as the public scene.

Employing the right tools in dealing with these matters sometimes means employing satellite litigation tactics, imitating related or non-related proceedings, bringing action for breach of fair & equitable treatment standards before international tribunals, and/or working on mediated settlements on the back of careful and tailored solutions acceptable to all sides.

Media & Broadcasting Litigation

We represent newspapers, TV broadcasters, independent journalists, various media companies, editors and journalistic organizations in media related cases before the courts, relevant regulators and in various commercial disputes – from shareholder to IP litigation.

We have experience in representing major Serbian media brands for decades now, protecting the right to information and the public interest in journalistic reporting. We have represented clients on some of the most high profile cases of these types on the recent years. In addition, our attorneys, as part of the media practice, regularly advise individuals and media companies on their rights and obligations under the law and on forming internal compliance policies.

We work closely with in-house lawyers at major media organizations. Members of the office are regularly invited to various events as speaker with experience in the media law sector. Our office has participated, together with the relevant media companies and organizations, in the successful campaign for de-criminalization of defamation.

Representative experience:

  • Broadcasting and reporting limitations
  • Freedom of information
  • Defamation
  • Right to privacy
  • Intellectual Property
  • Publishing
  • Regulatory

Specialist Litigation in distressed matters

Distressed situations involving non-performing assets and borrowers frequently lead to multiple layers of disputes and legal issues. We have extensive experience in acting for clients in such matters and advising on appropriate strategies. In multi-jurisdictional matters, we frequently cooperate with a number of international partners in cross-border asset tracing, strategies on interim freezing orders and asset protection, as well as aggressive litigation strategies involving multiple forums (e.g. aggressive bankruptcy-initiation, lawsuits against individuals and companies complicit in the acts which have caused losses for the client/entities).

Tax, Regulatory & Sanctions

The regulatory and administrative legal framework of many Balkan states, including Serbia, is highly complex. We have represented major local companies, financial institutions, as well as regional companies and multinational corporations in a broad range of disputed matters involving administrative law, regulatory actions and sanctions.

Regulatory, administrative and other actions that a client may face range from routine enquiries by the relevant government authority, to targeted investigations ordered where an indication of wrongdoing is already present or court litigation before the administrative courts.

We have acted at all stages of various regulatory matters in various market sectors such as: industrials & manufacturing; telecommunication & technology; energy; finance & banking; exports & trade; procurements; projects & privatizations; pharmaceuticals, and further.

Our team members have represented clients in hundreds of successful tax matters before the administrative authorities and administrative courts – ranging from basic tax offences to complex cross-border tax evasion cases.

We have experience in strategically advising our clients on related matters, including corporate governance, general company policy, asset preservation, and further.

We also cooperate with a number of our international partners – lawyers, experts, forensics, investigators and others – who may assist us with various aspects of international consequences which may arise from the local regulatory action.

In the recent years, with the increasing relevance of global sanctions regulations and actions, our team has acted on a number of matters involving sanctions and has experience dealing with matters that include actions taken by OFAC (US Treasury), the EU and the UK (OFSI) authorities.

We are one of the few firms in the region with substantial experience dealing with these authorities, acting together with leading law firms in challenging sanctions, submitting delisting petitions and working with the relevant authorities in trying to mend the situation that caused the initial designations.

Extensive experience with regulatory / administrative actions & disputed matters before the:

  • Tax Authority
  • Competition Commission
  • Electronic Communications Agency
  • Electronic Media Regulator
  • Foreign Sanctions Authorities
  • Relevant Ministries in charge of: Finance, Trade, Energy, Construction, Infrastructure and Telecommunication matters.

Specialist Advisory Team – Tax Consulting Group

Over the last 30 years, the firm has had hundreds of successful representations in tax matters (regulatory, civil and criminal).

In addition, in 2004 with the introduction of the Tax Consulting Group, we were a pioneer in offering to the clients a fully integrated consulting team consisted of not just our leading attorneys, but experienced finance professionals, independent tax experts and accounting and forensics experts offering clients a unique service in tax planning, structuring, regulatory disputes and other matters involving complex tax issues. Recognized as leaders in the field, members of the team have not just acted for clients in advisory and contentious matters, but have also appeared as third party independent experts in relation to other cases / disputes.

Over the course of time, the TCG has developed to be a truly bespoke services to our clients, and the team members for any specific engagement are tailored to the needs of the client in any matter.

General Civil Law Disputes

Outside the purely commercial/business sector, and frequently as part of our Private Client practice, the firm advises and acts for clients – private individuals, company executives, shareholders, family office funds, non-corporate investment firms, and various others – on civil law contentious matters.

The general civil dispute resolution can range from employment law disputes, to land ownership, lease rights, rights to privacy claims, defamation, and various other civil claims that may arise.

The firm advises on disputes and contentious matters with respect to a broad range of civil law matters including:

  • Family law disputes
    • Prenuptials and marriage property agreement disputes
    • Divorce litigation
    • Child support / Paternity / Maternity
  • Inheritance and Probate
    • Contentious probate
    • Disputes on inheritance / validity of wills
    • Civil claims with respect to legally necessary shares
  • Administration and status issues
  • Property law disputes
    • Land ownership
    • Cadastral contentious matters
    • Lease and use rights over land
  • Personal Finance & Regulations
    • Commercial banking contentious matters
    • Regulatory authorities disputes
  • Various Civil claims
    • Torts
    • Defamation
    • General damages
    • Privacy

EU, International law & Human Rights

We have a team that has significant international law experience, having acted in proceedings and disputes involving international law matters before different authorities. Our firm has tackled matters involving both private and public international law.

The firm has represented clients in a number of matters before the ECtHR involving human rights law violations against individuals and companies. Our attorneys have filed ECtHR applications with respect to both civil and white-collar proceedings in order to attempt to remedy injuries of elementary human rights by the local courts, including the Constitutional Court. Recent practice of the Constitutional Court has led to many cases being dismissed for procedural grounds – as not within the ambit of the review of the Constitutional Court – leaving parties facing human rights law violations frequently without an effective domestic remedy. We have experience advising and representing both companies and individuals in relation to the interpretation and case law of the ECHR, their options as well as likelihood of success before the ECtHR. In high-profile, high impact matters before the ECtHR, we have worked with leading barrister sets and individual advocates, bringing together a truly elite team that can satisfy demands of the most challenging cases involving sensitive, sometimes politically-charged issues.

We have acted in EU law matters before the European Commission. The firm’s attorneys, who have foreign-law qualifications and EU law experience have advised parties on EU law aspects pertaining to their business activities or contentious matters involving infringement proceedings before the EU Commission.

Having participated in various disputes concerning states and state-owned entities, our team has had the opportunity to advise and act in matters involving international law issues, mostly before international courts and arbitral tribunals. We have advised on PIL issues concerning state relations, state succession, treaty interpretation issues, and contentious matters involving state-owned enterprises and private investors that raised PIL matters.

Corporate & Commercial

The firm provides a full range of legal services in relation to corporate and commercial matters to our clients.

Drafting and advising on commercial contracts, acting in transactions and various business dealings is a core practice of the firm. We advise clients on a range of commercial and business matters, across numerous industries and often on arrangements that have a regional or international element.

We have experience drafting and advising on commercial contracts including but not limited to: sale and purchase, supply of goods and services, franchise and agency, development and co-development, construction and subcontractor, product research & development, marketing, publishing, licensing, outsourcing, commerce and trade, inter-state arrangements, manufacturing, technology, sponsorship and further. Negotiating, drafting, performing and enforcing commercial contracts requires not just strong understanding of the underlying legal matters, but skills of the lawyers to address particular commercial and industry issues. Our team has decades-long experience advising clients and negotiating on their behalf in high-value commercial deals in numerous sectors.

In corporate – our team has extensive experience in corporate advisory and transactional matters. We advise on all aspects of company law arising from establishing, running and investing in companies and other business ventures, including advice in relation to capital restructurings and group reorganizations, reductions of capital, company constitution issues and statutory and regulatory compliance (including rules relating to listed companies). In corporate transactional matters, we have advised funds, companies, individual investors, buyers, sellers, targets, lenders and other stakeholders on transactions in Serbia and in regional and international matters involving Serbian law issues.

Representative matters in Corporate, Commercial & Transactional:

  • Acting for a leading European conglomerate on hospitality sector investments in Serbia, and successfully closing their first RE investment in a EUR multimillion turnkey development project in Belgrade (Real Estate/Construction, M&A)
  • Advising a family office investment fund on multimillion (20m+) EUR secured loan facilities in the RE sector (Finance, M&A)
  • Acting for the seller and successfully closing a EUR multimillion (5m+) cross-border pharmaceutical sector deal involving Serbia, the US, Montenegro and several other legal jurisdictions (Pharmaceutical, M&A)
  • Advising a Swiss-headquartered international technology and service company on complex IP assignment, transfer, JV, licensing, servicing, procurement and other related matters spanning Serbia, Croatia, Switzerland, and the UK and involving English law, Serbian law and Swiss law issues (Energy/Technology, M&A)
  • Acting for a major construction, telecommunication, and media group in their greenfield investment into a television multi-platform spanning several countries. Advising on corporate structuring, negotiating, drafting and implementing the licensing & franchise, system supply and other related legal contracts and successfully closing the entire transaction (Telco)
  • Advising a regional construction and infrastructure company on financing aspects on multiple road construction projects amounting to EUR 1.150b. (Infrastructure – Road)
  • Advising a major international (multibillion sovereign-fund backed) group developing logistics networks on the entry into the Balkan region, focusing a performing and greenfield portfolio of assets exceeding 500k sq. m (Real Estate/Infrastructure/ Logistics, M&A)
  • Advising on a potential brownfield investment in the gold mining industry by an Asian-headquarters family investment office (Mining, M&A)
  • Advising the buyer on a prospective large-scale media sector acquisition in a Balkan country, valued at EUR 40m+ enterprise (Telco & Media, M&A)
  • Advising the buyer on negotiations and strategy in relation to a potential multimillion acquisition of a market leading news portal (Telco & Media, M&A)
  • Advising on an international joint venture and franchise deal with a leading international global news brand covering multiple countries and regions (Franchising/Media)
  • Project Athena – Advising on the acquisition of 70m+ asset package related to a prime RE located in Belgrade Serbia, for the purposes of an enforcement and potential development of mixed use RE (300m RE development value) (Distressed/Banking & Finance)
  • Project Alpha – Advising the bidder on process for purchase of a 1.2b EUR NPL and REO portfolio covering several CSEE countries (Distressed/Banking & Finance)
  • Project Lake – Advising the successful bidder on the process, closing and servicing of a 30m+ EUR GCV NPL and REO portfolio acquired from a leading regional banking group (Distressed/Banking & Finance)
  • Project Lion – Advising the bidder on process, assets, LSPA and various negotiations in relation to the acquisition of a two-tranche late stage SME portfolio with 37m EUR GCV of NPLs and approx. EUR 23m of RE (Distressed/Banking & Finance)
  • Project Danube – Advising the bidders of on a process for the acquisition of a large claim secured on prime RE development land in Belgrade. Claim exceeding 50m EUR, with the project development plan anticipating a 150m construction project. Advice covering both process and bidding matters, and asset-level legal due diligence, construction / urbanism and development risks (Distressed/Banking & Finance)
  • Project C – Advising the buyer on the acquisition on a consumer portfolio exceeding EUR 60m in GCV (Distressed/Banking & Finance)
  • Project Broom – Advising the buyer concerning a two stage (bilateral and tender) procedure concerning the potential acquisition of a NPL mixed (corporate and consumer) portfolio on the secondary market (Distressed/Banking & Finance)
  • Advising the bidder in the tender process for the sale of a 1.8b of GCV of NPLs from a group of state-owned bankrupt banks and financial entities (Distressed/Banking & Finance)
  • Advising the successful buyer on the process, assets, closing and servicing of a transaction concerning 30+ million GCV of NPLs and a multimillion REO portfolio covering Serbia, Slovenia and Croatia (Distressed/Banking & Finance)
  • Advising the buyer in bilateral negotiations for the acquisition of a 21m portfolio of mixed assets from a Croatian bank (Real Estate/Distressed/Loan Market)
  • Advice concerning the acquisition of a RE backed claim against a bankrupt company for the purpose of enforcement and development of a RE hospitality project (EUR 30m) (Distressed/Secondary Loan Market)
  • Advising an international real estate and construction conglomerate on JV/PPP/acquisition potential with the relevant stakeholders concerning state-owned real estate projects in Belgrade (Real Estate)
  • Advising on commercial negotiations and contracts concerning the tender/bilateral procedures for electric meter supply agreements (Energy)
  • Advising on the JV/partnership agreements in tendering procedures for the supply of electric meters and other energy services (Energy)
  • Advising a family office fund from Asia on entry into the Balkan renewable energy market and on potential projects totalling 450mw across CSEE (Infrastructure/Energy, M&A)
  • Acting for the shareholder of a company holding a large logistic sector asset in the negotiations concerning the acquisition of the business and related asset by leading regional RE developer (30m +) (Real Estate, M&A)
  • Advising a major European private equity fund in relation to a tender for the acquisition of chain of petrol stations (EUR 100m+) (Infrastructure/Real Estate/Oil & Gas)
  • Advising the seller on the sale of a multimillion REO portfolio (Real Estate)
  • Advising a major international construction company on the procurement process for the construction of a large-scale commercial block (EUR 40m+) (Construction)
  • Advising an investment fund on the development and potential sale of a large residential construction plot in a historically protected zone (Construction/Real Estate)
  • Advising a major international construction company in the preliminary feasibility research concerning a major coal energy project involving underwater extraction (Energy)
  • Advising on the process for sale of a portfolio of wind and solar ready-to-build assets comprising of 120 MW wind and 140 MW solar (Energy, M&A)
  • Advising the buyer in bilateral discussions for the sale of a 50MW wind renewable development project (Energy, M&A)
  • Advising on the development aspects and prospective sale of a 50 MW wind renewable plant (ready-to-build) (Energy, M&A)
  • Advising on the development aspects and prospective sale of a 40 MW wind renewable plant (brownfield) (Energy, M&A)
  • Advising on the development aspects and prospective sale of a 3MW biomass plant (operational) (Energy, M&A)
  • Advising on the prospective sale and development of a large coastline solar plant project (Energy, M&A)
  • Advising on various commercial/company law (including insolvency & restructuring) issues arising from the insolvency of a major CSEE consortium, including loan market transactions in Croatia and Netherlands and company restructuring matters in the Netherlands (Conglomerates, Corporate & Commercial)
  • Advising a family office investment vehicle on various real estate agreements and transactions in the Serbian market (Real Estate, M&A)
  • Advising a Cypriot investment company on the structuring and execution of a foreign direct investment in a EUR multimillion agricultural JV (Agricultural, Real Estate)
  • Advising a major regional road construction company on internal reorganization and restructuring matters as well as potential spin-offs of large parts of the group (Corporate/Restructuring)
  • Advising a leading regional oil company on various potential legal remedies concerning certain on-going contractual arrangements (Oil & Gas, Corporate Advisory)
  • Advising a regional construction company on their standard construction contracts, and advising on specific construction projects in the commercial sector (Construction, Commercial & Corporate)
  • Advising a leading domestic journalistic organization with respect to real estate ownership disputes on prime real estate in central Belgrade
  • Advising a leading local banking institution with respect to a EUR 10+ mil long-term loan agreement, an advising on potential claims/disputes with respect to the alleged breach of representations made in the negotiations (Banking & Finance)
  • Advising and acting for the largest regional retail sector company on a number of matters concerning contracts, commercial arrangements and likely disputes in relation to various commercial arrangements (EUR multimillion) (Retail, Corporate & Commercial)
  • Advising a large Switzerland-based infrastructure sector company on corporate and procurement matters in their Serbian market activities (Infrastructure, Corporate)
  • Advising the largest Serbian-based construction company on various regulatory proceedings initiated before the Serbian authorities (Construction, Regulatory)
  • Advising and acting for a large regional conglomerate focusing on energy, real estate and international trade on a number of commercial, corporate as well as contentious matters concerning company structures, bills of exchange and promissory notes, loan facilities, claims for damages, tax disputes, and international dealings with international lenders of the group, with the total value exceeding several hundred EUR mill. (Energy/Real Estate, Corporate & Commercial, M&A)
  • Advising a major international NGO on a number of labour law corporate matters as well as disputes arising from those relations (Health Sciences, Corporate & Commercial)
  • Advising an international investment fund on its investments in Serbia and acting for them in a number of claims and contentious matters arising from the investments in Serbia and Montenegro (Finance, Corporate & Commercial)
  • Advising a premier league Belgrade football club on contractual matters, assignments of rights and IP matters (Sports, Corporate & Commercial)
  • Advising a major German water-recycling industrial company on various corporate and commercial matters arising from their Serbian market activities – including a turnkey (F type) multimillion project development agreement (Infrastructure/Industrials, Corporate & Commercial, M&A)
  • Advising an Italian energy sector company in an acquisition of a Serbian target entity developing hydro-electric energy plants (Energy, M&A)
  • Advising a major Nigerian bank on matters related to the termination of contract, corporate guarantee issues and debtor enforcement possibilities (Banking & Finance)
  • Advising an SPV of a regional family office on an acquisition of a target entity developing gas storage facilities (Energy, M&A)
  • Advising an international real estate group on a full range of contractual matters arising from regional activities including but not limited to: franchise agreements, SPA’s, leases & assignments, labour law and director’s agreements (Real Estate, Corporate & Commercial)
  • Advising the target company in an energy sector acquisition process (Energy, M&A)
  • Acting for a major regional RE development company developing a 5milion + sq. m multi-use mega project and managing certain logistics assets on a number of land ownership issues, and representing them in front of the relevant authorities (Real Estate)
  • Advising a major Asian agricultural and logistics company in acquisition negotiations and pre-transaction due diligence with respect to a target that is a large logistics hub in Belgrade (M&A)
  • Advising a large local logistics company managing port facilities on a number of commercial disputes (Commercial Litigation, Supreme Court)
  • Advising a leading Serbian tobacco industry company on a number of contractual and transactional matters in relation to its international trade dealings (Industrials, Commercial & Corporate)
  • Advising a leading telecommunications & media regional company on a number or commercial matters including marketing, sponsorship and JV contractual arrangements (TMT, Corporate & Commercial)

Recent representative matters in Technology and Venture Capital:

  • Advising a major conglomerate on the development of a media multi-platform, from initial structuring, to licensing with a major international media brand, to completion of the who transaction
  • Advising a regional media TV station on commercial law matters in technology transfer, implementation of turn-key technology solutions and related contractual dealings
  • Advising a Serbian-UK start-up on its legal structure, tax issues and shareholder relations.
  • Advising a Swiss-Serbian start-up on commercial matters, corporate (joint venture, shareholder agreement) matters, seed/series C funding and IP protection.
  • Advising a group of energy sector inventors on UK&PCT patent applications for multiple inventions
  • Advising the founders of a technology company in relation to a potential shareholder dispute

Mergers, Acquisitions & Transactional

We advise our domestic and international clients on all aspects of buying and selling companies, asset and businesses, often involving regional elements. These transactions vary in complexity, value and size. We act for both listed and private companies, their management, funds, and other financial institutions throughout the relevant transaction.

We cover the full range of work related to acquisitions and transactions and our expertise in corporate tax, advisory, finance and employment law helps us to arrange an optimal deal structure for the client. In addition, our litigation experience provides us with key knowledge in structuring the deals and advising on the potential pitfalls of any deal.

After the completion of a deal – we provide post-transaction support together with our permanent advisors and experts and provide detailed advice on tax, commercial implications arising out of the deal, trading structures, employee transfers and reductions, corporate compliance, capital increase or decrease implications and further.

The firm has multi-jurisdictional understanding of sophisticated legal structures and solutions for corporate structuring, transactions, private equity investments and special situations and applies this, sometimes in cooperation with our international law firm partners, to implement the most optimal solution for our client. This means that we can see the bigger picture and find solutions in thinking outside the box and local law structures. We have assisted clients with corporate matters that include English law, Swiss law, Dutch law, Croatian law, Cypriot law and a multitude of offshore jurisdiction laws to find the right solution for the demanded result.

Specialized finance, Private Equity and Private Capital

The regional market is increasingly attractive private equity and private debt in multiple sectors. Funds and investors are looking for high-yield and solid risk-adjusted returns offered by the region. Our experienced team advises investors, sellers and targets on various aspects of these investments and specialist finance structures. When acting for investors, we help navigate the sometimes thorny and complex legal landscape and try to de-risk the target asset from the legal perspective as much as possible in order to bring value to clients. The sometimes adventurous pursuits in these markets, with our help, can bring successful closings for our clients, and our extensive experience in fixing problems helps our clients avoid pitfalls.

When it comes to high-yield and high-risk investments, the Balkan region has indicated future prospects with significant potential for upside as wealthy individuals, international funds and entrepreneurs are increasingly looking at attractively priced opportunities. Our office utilizes its regional commercial experience in practice to provide advice to clients in realizing their ideas, whether this is a structuring of an investment vehicle to invest in start-ups in Serbia or a planned exit from a private equity funded entity.

As a part of our private client practice, we advise individuals, founders, family offices and small funds on selling their companies and assets, and on a range of issues, from complex tax to plain contractual matters.

Representative competences:

  • Leveraged finance & LBOs
  • Private capital solutions
  • Private equity investments
  • Acquisition finance
  • Mortgage, pledge and secured lending
  • Senior, Junior, Mezzanine lending
  • Asset-based lending
  • Bridge loans

Distressed, Special Situations & Loan Market Transactions

The key to resolving the special situation is innovative and creative solutions, but one that are robust and resistant to challenges by various stakeholders. Further, such situations demand cross-sectoral and multidisciplinary understanding of various matters that may arise – from capital markets to leveraged finance, transactional, private equity and tax.  Our team has acted on high profile matters involving distressed assets/companies in Serbia and cross-border and we have experience in matters beyond conventional insolvency procedures.

We act for various stakeholders (borrower-side; lender-side; third party investors) in resolving distressed situations, whether that is advising parties on resolving its problematic loans, advising funds investing in special situations (loan, equity, bond transactions), or advising the borrower on negotiating with various stakeholders in pre-insolvency restructurings and reorganizations.

In the complex legal environment in Serbia, we are frequently engaged to find a mediated solutions and procure a settlement with various competing interests, with the goal of an efficient solution that saves costs, time and effort in these highly sensitive and frequently quite adversarial matters.

We act for clients acquiring loan portfolios both in primary and secondary market transactions, as well on single ticket deals. We advise clients not just on acquisitions and divestitures of distressed loans, businesses and portfolios, but also on enforcement/settlement matters involving sometimes multiple layers of legal issues related to underlying assets.

Representative competence:

  • Debt buybacks and settlements
  • Management liability and shareholder liability advisory
  • Privately negotiated restructuring – balance sheet, ownership, debt restructuring
  • Capital raising, private capital, distressed bonds
  • Transactional advice, sale of assets, part of businesses
  • Mezzanine conversion, equity dilution, new issuances
  • LBOs
  • White-knight financing
  • Litigation
  • Insolvency reorganization
  • Bankruptcy and winding-up
  • Supersenior facilities

Recent times have seen increasing options to capital solutions to what was for decades a very conservative market. We have experience advising on niche capital solutions, both at the borrower and lender sides – making sure that the interests are protected. Whether that means giving the lenders the right security package and enforceable legal tools, or making sure that the borrower entity has enough room for manoeuvre, reasonable covenants, ratios and EODs.


We have advised clients on the best way to structure a privatization of state-owned and socially-owned enterprises in Serbia and in the region. Our attorneys have experience in multiple industries, having advised foreign and domestic buyers on the acquisition as well as advised sell-side owners of capital on their interests in the privatization.

We have experience in negotiating with the state, preparing all the necessary documents for participating in the acquisition, whether such acquisition is by way of tender or direct negotiation.

A privatization raises particular regulatory and administrative hurdles, and involves significant subsequent obligations on the buyer. The office has experience in assisting both sell-side and buy-side entities on the full process of privatization, including post-transactional compliance with the privatization agreement covenants.

We have also capability to advise financing institutions on their rights and obligations in the privatization and structuring the relevant financial documents.

A particular transaction may be structured as a part-privatization – a partnership between the state and a private investor. We advise clients on all aspects of private public partnerships from the tender/direct negotiations to the closing of the transaction and post-investment obligations. Frequently, such transactions involve heavy negotiation with state authorities. Our experience in the legal sector, both in Serbia and in the region, and our established network of contacts provides us with necessary tools to assist clients and reach optimal solutions.

Restructuring, Reorganisations & Insolvency

The firm advises on all matters that arise by virtue of insolvency of a company and has experience advising various stakeholders – to current owners/shareholders to lenders, opportunistic investors, hedge funds, and the company itself at all stages of the financial distress, from initial planning, to investing, bankruptcy & restructurings, asset sales, voluntary settlement and liquidation schemes, and finally in litigation proceedings.

On the distressed investor / lender side, we advise on debt restructuring/refinancing, settlements and negotiations with the borrower; setting up and amending intercreditor agreements; arranging haircuts, grace periods and loan extensions; debt-to-equity conversions; acquisition and takeover strategies; enforcement & collection and bankruptcy administration.

On the borrower side, our role is to assist the company in managing the situation preceding the insolvency, or guide the way through a complex insolvency process. In full bankruptcy proceedings, our firm has extensive experience advising on all legal and strategic aspects, drafting the various bankruptcy-related documentation, represents our clients in the relevant proceedings, all the way to the bankruptcy plan and division of the asset pool.

In cases where a restructuring is possible, and a reorganization plan adopted, we advise on all aspects concerning the plan, oversee the implementation for the relevant stakeholders, and guide the clients through the thorny path to achieve their financial and legal goals.

Led by our lawyers, our team works closely with specialists and advisors such as major accountancy companies, management consultants, specialist banks and financial experts, and especially so in major turnaround matters with significant balance sheets.

Our effective approach, and experience of our team lead us to deal with some of the largest bankruptcy matters in the CSEE in the recent years, involving cross-border insolvency matters, satellite litigation, enforcement and other matters.

Corporate Advisory

Our attorneys have extensive experience in the Serbian and regional legal market and use this to regularly advise on legal and commercial matters of companies, its directors, non-executives, managers, key employees, majority owners, minority shareholders, employees, banks, creditors, other financial institutions and other stakeholders. Our most senior attorneys often act as strategic advisors to management of leading companies in Serbia.

Representative experience:

  • Company incorporation & structuring
  • Joint Ventures
  • Bespoke structuring – tax, compliance and other considerations
  • Day to day legal advice on corporate affairs
  • Corporate Governance
  • Director duties
  • Shareholder issues; minority protection; squeeze-out; mandatory buyout; tag-along; drag-along
  • General meeting matters
  • Corporate Finance
  • Dividend distribution, capital reduction or increases
  • Share issues, security listings, IPOs
  • Debt issues, promissory notes and bonds
  • Corporate Compliance
  • Internal compliance
  • Tax, Competition and other administrative law matters
  • Corporate Investigations
  • Civil
  • White-Collar
  • Regulatory
  • Restructurings, Reorganizations & Insolvency
  • Bankruptcy
  • Dissolution
  • Distressed situations
  • Loan Market transactions

Corporate Finance

Our practice covers corporate advice related to financing of the company and structuring debt and equity.

We advise on the issuance of shares, loan agreements, debentures and other debt instruments, structuring, listing and other relevant matters.

We have experience structuring complex corporate investment structures, advising on senior, junior, mezzanine, convertible notes/debt and various specialist and hybrid financing structures for companies.

On matters raising regional and international legal issues, we advise our clients together with our partners from various jurisdictions, truly offering a seamless and efficient legal service encompassing the full legal advice required for a particular transaction.

Corporate Governance

We advise managers, non-executives and companies on good practice, compliance with local and international corporate governance practices and with potential problems that might arise in specific situations. We provide advice on potential conflicts of interest, misuse of office powers, exploitation of corporate opportunities, actions against former or current directors, minority protection and further.

A good corporate governance policy – and its effective implementation – is paramount to a successful long term business operation in a developing country like Serbia. These can often be a pre-emptive mechanisms to potential future problems arising from investigations, whether such investigations are of routine nature or are investigations arising from alleged misconduct on behalf of the company.

Our experience in litigation and corporate investigations provides us invaluable insight in creating the optimal governance system for our clients, and minimizing legal and regulatory risk for them.

Corporate Compliance

We advise clients how to establish corporate compliance with all relevant regulations, assess and minimize potential risks, problems and damage, implement corporate governance reforms, and represent clients during investigations and possible disputes.

We have been appointed in the past to advise and assist on internal reviews and investigations, whether internally directed or initiated from the outside by a regulatory body. When our internal investigations reveal failures in internal controls that require remediation we advise on improving the internal controls in governance, conflicts of interest, financial crime, securities fraud, and other matters.

Our extensive dealings with the authorities have lead us to understand the mindset of regulatory bodies and their expectations when it comes to actual investigations.

Corporate Investigations & Contentious Regulatory Matters

We are ready to assist our clients in what can be their toughest times outside the main trial proceedings. From internal reviews to regulatory and tax investigations, through to civil and criminal proceedings, our office draws on our extensive expertise in white-collar crime, civil litigation, tax, regulatory and corporate advisory to assist our clients in the investigative stages of any proceedings.

Our experience teaches us that investigations can often be the most crucial stage of any proceedings where the future conduct of the authorities may depend on the capability of the attorney to clarify matters at this stage. Depending on the particular scenario, various tactics can be employed by the attorney at this stage; our experience is invaluable to our clients in forming the best first response.

Our team assists clients through all types and stages of investigations which affect corporate entities, whether internally directed or initiated by a regulatory body or the prosecutor. We also work closely with our international partner law offices in cross-border and international investigations.

Representative experience:

  • Advice and representation for companies at risk of raids
  • Advising on compliance covering bribery, money laundering, fraud, trade sanctions
  • Review and analysis of documentary and electronic evidence in the context of corporate investigations
  • Interviewing of internal personnel in the context of the evidence gathering phase of investigations.
  • Self-reporting to regulatory authorities including disclosures
  • Advice and representation during interviews with external regulators and agencies
  • Advice on civil remedies and related court proceedings including urgent injunctions, asset freezing and evidence gathering orders in the context of various criminal offences
  • Advice on compliance with document production orders, search orders and warrants
  • Preparing a report of our investigatory findings and reporting to the internal organs of companies
  • Advising companies on suing former employees for bribery and corruption
  • Advising companies on setting up robust in-house structures to minimize risk of non-compliance with regulations.
  • Successfully representing international companies at all stages of the criminal investigation and negotiating with authorities on dropping the investigation.
  • Investigating and advising on anti-money laundering disclosures.

Domestic & International Taxation for Corporates

Our tax practice is renowned for its expertise in tax matters – whether at the stage of advising on transactional, corporate structuring or company dealings or at investigation or dispute stages.

We act for individuals, small and large enterprises on a broad range of tax issues including but not limited to capital gains, corporate taxation, VAT, income tax, property tax, double taxation treaties.

From straightforward investigations to advice on complex structures, involving cross-border elements and multiple jurisdictions, we have advised our clients on a number of such matters.  We have significant experience cooperating with our partner law firms across the world on international taxation matters, double-taxation treaty application, requests for international tax assistance.

In tax investigation cases, our experience in tax, corporate crime and litigation is crucial in seeking to achieve the optimal results for the clients.

The experience gathered over the years provides us with an insight into the mindset of the tax authorities, their expectations and their standard practice.

We have experience acting as internal compliance investigators – where we prepare reports advising our clients on the likelihood of investigations by the tax authorities and in relation to existing or past transactions and dealings.

Employment law matters

Whether this arises as part of M&A condition precedents, post-closing activities, substantial restructurings and sectoral wind-downs, the firm has acted for domestic and international companies facing, sometimes very complex and tough employment law issues.

We act for a diverse range of clients – from start-up companies to NGOs, major local corporates, holding groups, and multinational companies.

We have extensive experience dealing with all levels of employment law issues, from the board level to large –scale redundancies and restructurings at the operational and administrative levels.

The capability of our team to address a multitude of legal matters across disciplines allow us to address any concerns our clients have and which may arise in tandem with the employment law issues.

In cases where the matter is already highly contentious, our litigation team is ideally placed to address negotiation and settlement options, or to face mass litigation cases initiated against the companies.

Technology, Start-Ups & Venture Finance

Raising equity, approaching the right investor or buyer, protecting IP, securing ownership rights and agreeing shareholder agreements, carefully raising debt – these are all considerations of various entrepreneurs and founders in the technology and start-up industries.

Our firm has experience in advising founders of start-ups, entrepreneurs, freelance inventors and established corporate names in bringing to market new technologies, structuring their companies/assets in the optimal way and properly framing the relations with various stakeholders.

Our work is not just focused on the local issues, but recognizing our client’s desires to commercialize their products globally, market their companies or find the right investor/buyer in the main international investment hubs, we work with a wide network of partners (international law firms; Patent attorneys; angel & venture capital investors; private credit institutions; specialists with incubator/accelerator experience) to successfully represent our clients.

Also, leveraging on our extensive experience in strategic advisory and on our network of contacts, we represent clients looking for funding or investment companies and other angel investors in investing in Serbian and regional companies.

Commercial Contracts

The team focusing on commercial law matters has decades-long experience in advising clients on all legal and strategic aspects of their commercial dealings – whether that is drafting contracts and legal instruments, issuing opinions, monitoring performance of agreements, structuring commercial transactions, or analysing and mending existing commercial arrangements.

From start-ups to mature companies, entrepreneurs and individuals we advise clients on key commercial matters that have a key impact on their business.

Our firm understands the importance of aligning with the wider commercial strategy, and recognizing the key risks and generators of value for our clients. The attention to detail and diligence we apply to key commercial arrangements of our clients, assists them in navigating the market and generating value for their business.

We have experience drafting and advising on commercial contracts and arrangements of various complexity – from market standard forms and contracts, to bespoke, complex, heavily negotiated agreements in various sectors, such as:

  •  Agency
  • Distribution
  • Services
  • Manufacturing
  • Supply and sales
  • Technology, R&D
  • Collaboration, Joint Ventures
  • Trade, International Shipping, Commodity Trading & Brokerage
  • Franchising, Distribution, Sponsorship
  • Outsourcing, sub-contracting

Banking & Finance

Our banking and finance experience and capabilities include advising parties (lenders and borrowers) on all aspects arising from commercial and corporate matters involving banks, financial institutions, specialist lenders, borrowers, guarantors, insurance companies and other parties involved in a creditor-debtor or guarantor relationship.

In the commercial banking scene, we advise parties (lenders and borrowers) on various aspects of a commercial lending arrangement. Parties look to us to effectively draft the loan documentation package, security documentation and to provide them with a legal framework to implement their contemplated transaction.

We have significant experience dealing with the non-performing loans and distressed lending matters and are appointed by our client to assist with inter alia, interim measures and freezing orders, mortgage enforcement, litigation and other aspects arising from defaults and distressed situations.

Representative experience in Banking & Finance:

  • Asset finance
  • Standard commercial lending
  • Financial services and regulatory advice
  • Project finance
  • Real estate finance
  • Mortgage, pledge and secured lending
  • Financial restructuring and creditor litigation
  • Acquisition finance
  • Insurance and re-insurance
  • Specialist financing structures
    • Leveraged finance
    • Private capital solutions
    • Senior, Junior, Mezzanine lending
    • Asset-based lending
    • Bridge loans

Further, despite the immature nature of the capital markets in Serbia, and lack of truly developed and competitive investment banking and specialist financing scene – the regional market, perceived as a one – does offer interesting opportunities for banks and other specialist lenders and investors offering capital.

The office has the experience and necessary knowledge to address every aspect of complex and bespoke financing arrangements provided by funds and investment banks. We are capable to advise on bespoke lending documentation; syndication possibilities; contractual protections in private equity deals, leveraged acquisitions, and other types of complex lending arrangements. The team’s experience in tax, corporate advisory, litigation, regulatory and employment, provides us with a capability to advise on many aspects of a particular transaction.

When it comes to banking regulation – the banking sector is subject to constant regulatory change, and this increases the legal risk of non-compliance to banks. The office advises bank clients on applicable regulatory rules and regulatory developments. We have advised banks on regulatory obligations related to incorporation and establishment of a new bank, including licensing requirements. Also, we advise banks in acquiring domestic banks and regulatory consequences of these acquisitions.

Our banking law advice frequently involves other related matters such as mergers and acquisitions, private equity, corporate restructuring, capital markets and structured finance to provide the highest quality advice to our clients in all types of financing transactions.

Intellectual Property

The firm has a longstanding practice in commercial matters involving intellectual property.

We have advised clients in relation to all aspects of drafting IP agreements, creation of IP, registration, commercialization and exploitation, and finally litigation and enforcement. Recently, the most active sector in IP was technology and start-ups, where we have advised founders, companies and investors on key IP matters concerning the business.

When it comes to IP related agreements and contracts, we assist clients with:

  • Licensing
  • Distribution
  • Sponsorship
  • Franchise
  • Assignment, Transfers & Disposals
  • Joint Venture Collaboration

In transactional matters, we provide our clients with legal assistance on various transactions where IP matters are concerned – such as asset sales, mergers & acquisitions, restructurings & bankruptcies – at all stages – from due diligence to completion.

Our team is able to advise on various related aspects in complex IP matters – including taxation, competition and corporate.

When it comes to international matters and IP which is frequently held by various investors or collaborators in multiple jurisdictions, our team is well versed and works with a number of our international partners in helping clients address matters which concern multiple legal systems and cross-border cooperation in IP.

In patent registration and enforcement, we work with the leading patent attorneys globally, in helping protect and enforce our client’s most valuable intangible assets.


Our history is rich with high impact legal work in the media sector, as well as activities in shaping the legislative framework.

We have acted for a plethora of new and established media companies – from traditional television to online media and multi-platforms. We also act for media sector NGO’s, journalist associations and individual journalists. We provide comprehensive advice on all commercial aspects concerning the matter in question, but also on all related aspects in relation to the media sector – whether that is freedom of information, regulatory, investigations or litigation.

Our regional network and market understanding has brought significant benefits for our clients which have engaged us to advise them on key media licensing and franchising deals in the region.

Our mandates in the past included advising clients on developing major greenfield media projects – and we have advised clients at all stages in building bespoke and cutting-edge media platforms – from devising conceptual ideas, through setting up and structuring, procurement & sales of technology and equipment, licensing, regulatory and broadcasting law advice, to the final completion of the relevant project. In our media work, we have assisted clients on relations, dealings and commercial arrangements with the leading global media brands.

In contentious matters, our litigation team has been involved in some of the highest profile defamation cases in recent years.

Strategic Advisory & Crisis Management

In the course of three decades, the firm has represented the leading local and regional entrepreneurs and companies; government officials; NGOs and various other parties and developed a strong regional network and a deep understanding of the functioning of the local market

Driven by the demands of the market to incorporate not just legal advice but to provide strategic advice and access to our developed network of contacts, headed by our principal, we have developed a strategic advisory & crisis management practice of the firm that is there to assist the clients with the most sensitive and high-impact situations affecting them, and provide holistic advice and strategic guidance on these matters.

In providing the strategic advice or addressing the crisis situation, we also work with leading international advisory firms (policy, strategy, finance, PR, forensics, investigations). We have acted together with some of the world-renowned GR, policy and strategy teams in implementing client’s goals in the EU, Asia, the US and Africa.

Common Law Desk

We have a dedicated team that deals with investors demanding knowledge of common law and coming from jurisdictions applying common law principles and expecting an understanding of the concepts and how they translate to the local market. Members of our office include common law trained lawyers who can provide specialist advice on English law matters and assist with complex cases involving multiple jurisdictions.

Our team is uniquely positioned in Serbia and regional market to assists our clients in this region to understand how their expectations may be achieved in the local legal regime and how the standardized clauses and documents normally negotiated in common law jurisdictions apply in Serbia and the region.

Our team members have experience in drafting foreign law governed contracts and acting in disputes where foreign law (including English law) is the procedural or substantive law of the proceedings.

Tax & Regulatory

The firm has a longstanding tax and regulatory practice advising our clients on all aspects concerning the application of local and international treaty tax laws, and navigating our clients through complex regulations that affect their business.

The office is able to provide full service to clients facing tax issues or wanting tax advice for planned investments.

We provide tax advice and opinions on a range of matters, such as corporate acquisitions, real estate, inward foreign investments and personal taxation matters. Our corporate clients range from large multinational corporations to privately owned businesses. We offer advice on all matters of property taxation, income tax, capital gains, corporate taxation, asset transfers tax (stamp duty), VAT, as well as double taxation regimes.

Our team advises various types of investors on taxation effects of complex structures, and we provide key advice on optimization but also legal risk mitigation. The Serbian and regional tax system has had a history of legal recharacterization risk, and complex structures which are seen as permissible and tax efficient in the EU or US have been seen to fail the local law tests and led to significant issues for clients facing contentious tax cases with the tax authority or the tax police. We have the knowledge and experience to assist clients at early stages of investment planning in order to mitigate these risks in the future. Our team is familiar with various common law and civil law concepts and legal concepts used in investment structuring, including most complex PE and distressed industry solutions implemented to optimize returns for the client. In addressing cross-border taxation matters, we work with our partner law firms, experts and advisors who are the leading in their respective jurisdictions, allowing us to provide seamless tax law advice to our clients.

In contentious tax matters, the firm has a track record of success, and this allows us to advise clients in time, before things move in unplanned directions. Once a dispute arises, whether before the tax authority or the administrative courts, our dispute resolution lawyers are the go-to team to act in these matters.

Specialist Advisory Team – Tax Consulting Group

With the introduction of the Tax Consulting Group in early 2000’s, we were a pioneer in offering to the clients a fully integrated consulting team consisted of not just our leading attorneys, but experienced finance professionals, independent tax experts and accounting and forensics experts offering clients a unique service in tax planning, structuring, regulatory disputes and other matters involving complex tax issues. Recognized as leaders in the field, members of the team have not just acted for clients in advisory and contentious matters, but have also appeared as third party independent experts in relation to other cases / disputes. Over the course of time, the TCG has developed to be a truly bespoke services to our clients, and the team members for any specific engagement are tailored to the needs of the client in any matter.

Regulatory, Competition & Compliance

In non-contentious regulatory matters, the firm advises our clients that are present in various sectors, including industrials, telecommunication, financial institutions, media, sports, energy, and technology. Whether the client is an industrial company whose business is affected by regulations applying to the manufacturing process, a multinational dealing in trade in defence industry items, a media conglomerate broadcasting in different jurisdiction, or a financial institution dealing with the changes to the regulatory regime, our firm can provide the required legal assistance in relation to the regulatory matters facing the business.

We assist clients, companies, entrepreneurs and individuals, to effectively and creatively deal with regulatory issues.  We advise compliance teams within corporates how to navigate the existing regulatory regime, and, in the environment of constantly changing and evolving legal norms, we advise on the compliance with the multitude of laws that are being changed.

Frequently, it is not the regulatory changes, but the practice of the relevant authority that is inconsistent, non-existent, has changed, or even has retroactive effects.  Having experience in hundreds of regulatory dispute matters, and an understanding of the policies or events driving the regulatory practice is key to addressing these matters and minimizing risk for the clients.  The firm helps the client navigate these murky waters of regulatory practice.

In cases of regulatory overreach or regulatory actions that lead to disputes, the clients can rely on our capability in regulatory dispute resolution – before authorities and courts of all instances.

We have experience dealing and working with our partner firms in different countries in matters that are cross-border – this includes dealing with competition authorities requesting clearance for a transaction, or with the banking regulators looking for approval for multi-jurisdictional loan portfolio.

Sectoral competence in regulatory matters (including competition):

  • Industrials
  • Data protection & privacy
  • Energy
  • Environmental
  • Banking & Financial
  • Product liability & product safety
  • Public procurement & PPPs
  • Telecommunications, media and technology
  • Import/Export
  • Medical & Pharmaceuticals
  • Agriculture

Private Client

Private client is an important part of our practice, and has been so since our beginnings. For three decades now we have maintained long-standing relationships with family offices, privately owned legal entities, entrepreneurs, executives, shareholders, and have acted as their trusted advisors for a plethora of legal matters. Following the increased inflow of foreign investments and establishments of foreign companies in the region in the last two decades, the firm is increasingly advising non-resident or non-Serbian nationals moving into the country. We help our clients with a number of legal matters – from tax planning, to settlement & residence matters, banking and wealth preservation to inheritance and family law matters.

Our clients include owners of the Serbian market-leading companies, start-up founders, directors and executives, high-net worth non-nationals, diplomats, former officials, politicians and others.

In the international sphere, the firm has significant experience advising on various holding structures, trusts and trust-like structures, onshore and offshore incorporation, and international taxation matters. We have assisted our clients, in liaison with our international partners, on setting-up different types of wealth holding entities and structures.

Representative work:

  • Prenuptial and marital property agreements covering various international jurisdictions (in cooperation with international counsel)
  • Advising on family office investments, RE construction, and land purchase/lease agreements in relation to various projects
  • Advising on SPAs, M&A, asset-transfers, and other transactional activities of family office’s/entrepreneurs
  • Acting in various proceedings concerning trusts/marital property
  • Acting in contentious divorce proceedings for high-net-worth individuals – including cross-border and multijurisdictional matters covering assets situated across the globe
  • Property ownership, lease, land usage rights and other RE-related contentious and advisory matters
  • Acting for directors and board members on labour law matters. Labour law litigation with respect to unlawful termination, workplace discrimination, and other claims.
  • Probate advisory and contentious representations.
  • IP ownership advisory and litigation.
  • Data protection advisory and litigation
  • International tax advice

Real Estate, Construction & Projects

The real estate and construction sector has been a key driver of economic development in the region, and real estate matters are underpinning a large amount of transactional activity – whether directly as real estate projects or indirectly as collaterals to asset-based lending and other capital market activities.

The firm advises clients on all legal aspects in relation to real estate transactions and advises clients in relation to property law aspects of their corporate and commercial affairs. We advise investors, developers, funders & lenders, sponsors, issuers and others on a range of their real estate activities. Our duty is to ensure risk mitigation for the clients and delivery of their commercial goals. Our services include advising on straightforward sale and purchase transactions, real estate development and investments, leases and hybrid-occupancy structures, planning & urbanism, construction law, complex real estate transaction structuring, real estate taxation, asset-based lending, and further. Further, our real estate and property law work frequently overlaps with other mandates – such as insolvency, corporate reorganization & restructuring, and mergers & acquisitions, where real estate and property law matters can be a major part of the overall legal advice.

In the construction law field, our team advises lenders, contractors, suppliers, consultants, monitoring advisors, developers and others on all legal aspects concerning the relevant construction project.

We advise on internationally used standard contracts and their application in domestic and regional real estate development (including FIDIC (EPC, EPCF, design-build) JCT, etc.). Most often however, the local and regional practice has dictated bespoke construction agreements for various construction and infrastructure projects, whether construction works only or EPC.

Our sectoral experience in real estate and construction includes:

  • Commercial
  • Residential development
  • Hospitality & Leisure industry
  • Infrastructure & Transportation
  • Energy, including renewable energy plants (solar & wind)
  • Healthcare

In cross-border and international matters, we have experience working with market-leading partner firms, and are able to provide a one-stop comprehensive advice. The team advises on financing structures – project finance, mortgage financing, securitization in relation to real estate assets (and asset pools) – whether existing, or in development.

Our team has experience advising on various transactional and corporate matters related to the real estate and construction sector, including advising on high-value single asset and portfolio transactions in the sectors.

Projects – Energy, Renewables & Infrastructure

The firm advises on a diverse range of energy and infrastructure projects. We can assist clients with the full project cycle – initial advice on formation and structuring; joint venture and shareholder matters; corporate transactional matters; financing and credit agreements in relation to the project; construction law, property, urbanism and planning matters; regulatory, procurement, tax and compliance; offtake, PPA and other purchase agreements; to the final completion and handover of the relevant project.

We have experience advising clients on regional investment and projects in road infrastructures, solar, wind and coal power project development.

In the recent decade, the governments of the region have implemented a number of measures to try to change the regime and promote the development of strategic infrastructure. Despite efforts, there has been a general lack of permitted projects that are ready-to-build, which has inflated market expectations about the pricing and valuations.

Investors and funders come to us to help them navigate the market and regulatory framework in search of viable projects, and sellers and developers seek a strong guiding hand that can help them bring their projects to the stage where these are bankable or attractive to large international investor groups or government entities looking to invest in new projects.

Our regional network of relationships allows us to provide our client access to opportunities and navigate them to the pockets of the market where there may be opportunistic or strategic plays, in the energy and infrastructure segments.

In government-facing transactions, we advise our clients on the full range of matters concerning procurements, tenders, PPPs and concession-type arrangements. Our regulatory experience allows us to assist with the thorny regulatory landscape in the region, the constantly changing legal environment sometimes making multiple layers of legal regimes apply to a single project. We help sellers and developers manoeuvre their way to the most efficient route to permitting, and investors, sponsors and lenders, to properly judge risk in analysing their target projects.

In contentious matters, our experience in dispute resolution enables us to advise on settlements, arbitral (including investment arbitration) and litigation options for our clients in what are often politically-relevant and strategic projects. We have frequently acted against states and government authorities in contentious project and PPP matters.

Representative matter Real Estate, Construction & Projects:

  • Advising a buyer on the acquisition and development of a large real estate development project in the hotel sector in the city of Belgrade
  • Advising the seller on the sale of a multimillion REO portfolio
  • Advising an investment fund on the sale of single ticket RE assets
  • Advising an investment fund on a sale of claims portfolio collateralized with various RE assets
  • Advising a major international construction and development conglomerate on the sales process for the potential acquisition of a large (100k +) RE development project
  • Advising a major international construction company on the procurement process for the construction of a large-scale commercial block
  • Advising various stakeholders on the potential acquisition of a portfolio of logistics assets (500k+ sq. m)
  • Advising a major regional construction company on funding aspects of a major road construction project
  • Advising a major regional construction company on funding aspects concerning a major road and airport construction project
  • Acting for the seller in the negotiations for the sale of a major marina & hospitality RE development project with a leading regional RE investment group
  • Advising the investment fund on the sale of a large residential construction plot in a historically protected zone
  • Advising a major international construction company in the preliminary feasibility research concerning a major coal energy project involving underwater extraction
  • Advising on the process for sale of a portfolio of wind and solar ready-to-build assets comprising of 120 MW wind and 140 MW solar
  • Advising the buyer on the bilateral discussions for the sale of a 50MW wind renewable development project
  • Advising on the development aspects and prospective sale of a 50 MW wind renewable plant (ready-to-build)
  • Advising on the development aspects and prospective sale of a 40 MW wind renewable plant (brownfield)
  • Advising on the development aspects and prospective sale of a 3MW biomass plant (operational)
  • Advising on the prospective sale and development of a large coastline solar plant project
  • Advising the owner of the telecommunication backbone on the lease / monetization arrangements