New consequences for late payments in commercial transaction
The Serbian Parliament passed the Law on the Terms for the Settlement of Monetary Obligations in Commercial Transactions on 15 December 2012 (the “Law”). The Law is based on Directive 2011/7/EU. The Law will come into force tomorrow the 25 December 2012 and will be practically applied from 31 March 2013.
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Although there has been a downturn in M&A work, elections and legislative change have helped keep Serbia’s legal community busy

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The Balkan economic climate continues to be stormy, but the arrest of Ratko Mladic and Serbia’s modernisation drive as it bids for EU membership are signs of better days to come. Joanne Harris reports


