Bojović Drašković Popović & Partners advised Welkino Limited on the sale of Žitoprodukt d.o.o. to ASA Group

Bojović Drašković Popović & Partners provided full legal support to Welkino Limited, a Cyprus based limited company, with regards to the sale of its Serbian company Žitoprodukt d.o.o. form Bačka Palanka to ASA Trading headquartered in Austria (a member of the ASA Group).

Žitoprodukt has years of tradition in the field of grain processing. The core activities of Žitoprodukt are drying and storage of grain as well as processing of mercantile maize. The company owns storage silos with the capacity of 22,000 tons, modern grain drier with a capacity of 30 tons/h, and the production plant can process up to 120 tons of mercantile maize daily. The product range includes: corn grit for breweries, corn grits as a food and raw material in confectionary industry, cornmeal and livestock feed flour.

This week, ASA Group took over Žitoprodukt, as a step forward for the continuation of the expansion in the segment of commodities trade.

Milica Pešterić spoke at the Balkan Energy Finance Forum

Senior associate Milica Pešterić attended the 11th Balkan Energy Finance Forum, held in Belgrade 19 November 2018. Milica was one of the panellist at the panel session named: “The way forward for attracting investment in Renewable Energy sector in SEE.” She spoke about energy investments and business opportunities, with a brief overview of the regulatory framework for the RES projects in Serbia.

The 11th Annual Balkans Energy Finance Forum 2018 brought together senior influencers, decision makers and change leaders across government, industry, associations, regulatory agencies and financial institutions in order to share key insights into the evolving opportunities for the industry. This investment focussed programme for the region's gas, finance, legal, energy and renewables sector increases in interest and scope of topics every year in order to be a vital centre-point of wanted knowledge.

With a mixture of panel sessions and keynotes, delegates were able to immerse in a diverse programme delivered by high ranking and respected leaders with opportunity for lively debate and questions.

More about this forum can be found here.

The New Law on Personal Data Protection

On 9 November 2018 the National Assembly of Serbia has adopted the long awaited new Law on Personal Data Protection (Zakon o zaštiti podataka o ličnosti, Official Gazette of the Republic of Serbia, no. 87/2018) (hereinafter: the Law).

The main reason behind the adoption of this new piece of legislation is harmonization with the European Union rules, i.e. ensuring the same level of protection of personal data as in the European Union member states. The introduction of the Law is part of Serbia’s obligations in process of the accession to the European Union. Further, the Law was adopted with the aim of facilitating the conducting of business of companies, having in mind the current level of application of modern information technology and social networks. Namely, the general assessment of the previous law on personal data protection is that it was already outdated at the time of its adoption, and therefore its application in practice was often marred by significant difficulties. 

The Commissioner for Information of Public Importance and Personal Data Protection (hereinafter: the Commissioner)'s stand regarding the text of the Law is that it represents a literal translation of the General Data Protection Regulation (hereinafter: the GDPR), and therefore exhibits a high level of formal compliance with the respective regulation of the European Union, but the practical application in Serbia is highly questionable. 

Further, despite the Commissioner’s numerous complaints and suggestions, the Law does not regulate video surveillance, which remains in the gray area. The Commissioner has also found Article 40 of the Law to be quite controversial as it allows the limitation of certain fundamental rights and obligations envisaged by the Law, in a rather imprecise manner and without reference to the law as a legal ground for such limitation. Therefore, there is a potential threat that authorities or companies that handle personal data may restrict citizens' rights without explicit legal authority and at their own discretion.

To read more please follow the link.

To read what Uroš Popović quoted for Data Guidance about the new Law on Personal Data Protection please follow this link.