SERBIA Law and Practice Contributed by: Uroš Popović and Stefan Golubović, Drašković Popović & Partners
2.5.2 Mandatory Insurance Coverage Requirements Current insurance limitations are aligned with the Montreal Convention, which amount up to:
2.6.4 Summary Judgment or Other Relief A lessor may request an interim injunction before the final resolution of the judicial proceedings. As a result of the interim injunction, the aircraft could be taken away from the lessee until the proceedings are com - pleted. In order for the court to grant an interim injunction, the lessor will have to prove both the existence of its claim and that it would incur damage if the interim injunction were not granted by the court. In practice, it usually takes approximately one month for a court to decide on the request. 2.6.5 Domestic Courts’ Approach to Foreign Laws and Judgments Serbian courts in general uphold: • a foreign law as the governing law of an aircraft lease; • submission to a foreign jurisdiction; and • a waiver of immunity by the parties to the lease. 2.6.6 Domestic Courts’ Recognition of Foreign Judgments/Awards Serbian courts recognise and enforce a final judg - ment of a foreign court or an arbitral award without re-examining the matter if the procedural prerequisites for enforcement of the judgment/award are met. 2.6.7 Judgments in Foreign Currencies A lessor under an aircraft lease may obtain a judgment in a foreign currency. However, the enforcement of this judgment will have to be made in local currency in Serbia. 2.6.8 Limitations on Lessors’ Actions Following Termination There are no statutory limitations on a lessor’s abil - ity to recover default interest. A lessor may charge additional rent following the termination of the lease for default if this course of action is in line with the governing law and the concluded agreement. 2.6.9 Lessor’s Requirement to Pay Taxes/Fees A lessor under an aircraft lease does not have to pay taxes or fees in a significant (ie, non-nominal) amount
• 100,000 SDR for injury and death; • 4,150 SDR per passenger for delay; • 1,000 SDR for baggage; and • 17 SDR for cargo. 2.5.3 Placement of Insurance Outside of Jurisdiction
Reinsurance of an aircraft abroad is not regulated under Serbian law. However, from a general legal per - spective, one might conclude that the practice will not be against the applicable regulation. 2.5.4 Enforceability of “Cut-Through” Clauses “Cut-through” clauses are not valid in Serbia because of the limitations imposed by the mandatory foreign exchange (FX) rules which are set out in Serbian leg - islation. 2.5.5 Assignment of Insurance/Reinsurance Assignments of insurance/reinsurance are allowed. 2.6 Lease Enforcement 2.6.1 Restrictions on Lessors’ Abilities There are no specific restrictions on a lessor’s ability to terminate an aircraft lease, re-export the aircraft and/ or sell the aircraft following termination of the lease under Serbian law. In addition, it is not mandatory for an aircraft to be physically located in Serbia for either of these opera - tions. 2.6.2 Lessor Taking Possession of the Aircraft A lessor will have to have obtained a court order to take possession of the aircraft from the lessee. 2.6.3 Specific Courts for Aviation Disputes There are no specific courts for aviation disputes. If an aviation-related dispute were to arise and if the Serbian courts had the competence to decide the dispute, it would be adjudicated by the competent commercial court.
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