Under the Serbian Law on Foreign Exchange Operations and its accompanying bylaws, Serbian residents have various reporting obligations towards the National Bank of Serbia (“NBS”), which is competent for controlling foreign exchange (“FX”) operations of residents and non-residents. It is not rare in practice that companies operating in Serbia are not aware of (all) such obligations, especially in the cases of first-time entrance to the market, which exposes them to potential liability for FX misdemeanours. The controls in this area are common while identified irregularities are followed by misdemeanour proceedings.

Albania's Olsi Coku has been appointed a Partner with Kalo & Associates in Tirana, in a promotion round that also included Armando Toslluku's appointment as a Special Counsel and Frensis Nakuci's promotion to Senior Associate.

Norton Rose Fulbright has advised mBank on financing the construction of a 98-megawatt photovoltaic portfolio sponsored by Sunly. CMS advised Sunly.

Taylor Wessing has advised PKO Bank Polski on financing the Novastone Capital Advisors and Frederick Rdultowski investment in Adex Cosmetics & Pharma. SSW Pragmatic Solutions reportedly advised the buyers.

Gabor Pazsitka has joined Schonherr's Budapest office as a Partner and the Head of the firm's local Banking & Finance practice.

Dentons, Binder Groesswang, and Djingov Gouginski Kyutchukov & Velichkov have advised UniCredit Bulbank and the EBRD on the financing for Enery Development's construction and operation of a large-scale solar plant in north-eastern Bulgaria set to add 112.5 megawatts of solar power generation to the country's electricity system. Schoenherr reportedly advised Enery Development.