The dispute resolution team at Živković Samardžić secured a Supreme Court of Cassation victory for Vlade Divac, former professional basketball player and current President of the Serbian Olympic Committee, in a case involving share transfers in an alcoholic beverage producer and a water bottling plant.

Divac was sued by Serbian businessman Vojin Djordjević, who sought to annul or rescind certain share transfer agreements related to the two companies. Djordjević claimed that the agreements deviated from a 2006 Letter of Intent between the parties.

After the Commercial Court in Belgrade ruled in Divac's favor in 2013, and the Commercial Appellate Court upheld this in 2014, the Supreme Court of Cassation confirmed the lower courts' decisions. The Court found that while the ownership structure differed from the Letter of Intent, it was due to Djordjević's failure to fulfill his contractual obligations, not fraud or error.

Additionally, the Supreme Court reinforced the legal principle that share transfer agreements, once registered in the Company Register, cannot be annulled based on the Law on Contracts and Torts. Instead, nullification must follow procedures outlined in the Companies Act.

The team representing Divac consisted of partners and associates from our Dispute Resolution Department.