Serbian Arbitration Association founds Belgrade Arbitration Center
The Serbian Arbitration Association (SAA) has announced the founding of the Belgrade Arbitration Center (BAC), which started operating in January 2014 as the first arbitration institution in Serbia not established by the state. JPM Jankovic Popovic Mitic is one of the founding members of the SAA. Nikola Jankovic, senior partner, is a member of its board of directors.
The BAC will hear arbitrations both with and without foreign parties (the two existing arbitration institutions in Serbia, both of which are attached to the Serbian Chamber of Commerce, divide jurisdiction in this manner between them).
Also, unlike the Permanent Court of Arbitration attached to the Serbian Chamber of Commerce, which can per law administer only disputes that arise between its members, BAC is an ‘open’ arbitration forum and has no such restrictions.
The BAC will be the first arbitration institution in Serbia not to mandate arbitrators, as parties are free to choose whomever they want to (subject to confirmation of the BAC board).
The SAA currently consists of more than 60 members, including attorneys from more than 20 law offices, multiple university professors and lawyers with expertise in domestic and international arbitration.
Gaso Knezevic is serving as the first president of the BAC, with Vladimir Pavić as vice-president. The SAA board of directors includes, among others, attorneys Nikola Jankovic (from JPM Jankovic Popovic Mitic) and Miroslav Paunovic, Milena Djordjevic and Dragor Hiber (both members of the Faculty of Law at Belgrade University) and Maja Stanivukovic (member of the Faculty of Law at Novi Sad University).
Briefings from JPM Jankovic Popovic Mitic
The new law came into force on 13 August 2014, and the deadline for privatisation of socially owned capital to be completed is 31 December 2015.
The amendments and supplements to the Bankruptcy Law that were adopted on 2 August 2014 came into force on 13 August 2014.