News & Publications

The Dawn of Dawn Raids or the Twilight of Due Process in Serbia?

During the last ten days of May 2017, the Serbian competition authority has hastily opened an unprecedented number of investigations. Simultaneously, the authority announced a push for a complete revamp of the competition act. Reviewing these developments through the lens of the New Administrative Act, which came into force on 1 June 2017, a strong argument can be made that behind these actions is a desire to circumvent the robust due process and human rights safeguards introduced by the New Administrative Act and guaranteed under the ECHR and the Serbian Constitution.

Frikom, Leading Ice-cream Manufacturer, Under the Loupe of Serbia’s Commission for Protection of Competition for the Second Time

On 29 May 2017, the Serbian Competition Commission initiated ex officio proceedings for the alleged abuse of dominance against Frikom, the largest producer of frozen food in Serbia. The day following the initiation of proceedings, a dawn raid at Frikom's business premises was carried out.

Amendments to the Serbian Criminal Code: Restrictive Agreements

One of the amendments to the Serbian Criminal Code (the Code) that will take effect on 1 March 2018 is a new criminal offence for restrictive agreements.

Thresholds for Merger Control in Serbia – a Treasure Island of False Positives?

The Serbian 2009 Protection of Competition Act (as amended in 2013) provides for rather low merger control thresholds, compared both to EU law and countries in the region. Thresholds set this low can (and usually do) result in excessive merger control which eventually brings more harm than good to market competition. In order to put an end to this, a change in decisional practice and/or legislative change in regards to this important aspect of merger control is required.

New EU Data Protection Rules – Should Serbian Companies Be Worried?

The new EU data protection framework, set to come into force on May 24, 2018 in the form of the General Data Protection Regulation is directly binding in all Member States, however its scope goes beyond the boundaries of the EU – affecting foreign companies that deal with personal data of EU citizens. 

The Dawn of Dawn Raids or the Twilight of Due Process in Serbia?

In the last 10 days of May 2017, the Commission for Protection of Competition of the Republic of Serbia has decided to roll up its sleeves and put a number of companies suspected of committing competition violations on its conveyor belt. Unusually high number of unannounced inspections –

Nikola Aksić

Partner

Nikola Aksić is a founding partner at Gecić Law in Belgrade.  His practice focuses on Banking & Finance, Restructuring & Insolvency and Energy, Infrastructure and PPP.

He has more than ten years of experience practicing in Serbia and the region.  He acted for some of the largest multinational clients in notable transactions in Serbia and across the region.  Nikola advises on financing and corporate transactions of all types, including local and cross-border acquisitions, foreign exchange transactions, structuring and financing of infrastructure projects.  Recent transactions have included PPP motorway project, structuring and financing of a local pipeline project for transporting of natural gas  as well as advising and representing clients in matters relating to non-performing loans, compliance analysis of local banks, project finance, take-overs, derivatives trading and ISDA master agreements.

Nikola earned his law degree from the University of Belgrade, Faculty of Law (LLM, 2003) with specialization in EU law.  He is a member of the Belgrade Bar Association, Serbia. Nikola speaks fluent English, Bosnian, Croatian, Montenegrin and Serbian.

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