Latest News By Country
Albania’s gambling industry has undergone significant transformations over the past decade, shifting from a thriving sector to one under stringent regulation. Lalaj & Partners Partner Sabina Lalaj explores the evolution of gambling in Albania, the impact of regulatory changes, its current status in the economy, and the future outlook of the industry.
On November 14, 2024, banking and finance experts from Albania, Austria, Bosnia and Herzegovina, Bulgaria, North Macedonia, and Poland sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss digitalization and the impact of tech on the banking sector in CEE.
The long-anticipated initiative to establish a new legal framework for personal data protection in Albania is finally moving forward, as the Council of Ministers has approved a draft law that aligns closely with the European Union’s General Data Protection Regulation (GDPR). This proposed legislation promises to bring significance in this important but frequently underappreciated legal domain. With its comprehensive approach and alignment with EU standards, the new law aims to greatly improve privacy protection in the national context.
CMS has advised ABB on its investment in Engineering Software Steyr.
Eversheds Sutherland has advised TSG Austria on the acquisition of E-Port Elektrotechnik from Marin Bruckmueller, Harald Winkler, and Kerstin Peinbauer. SWS Scheed Woess advised the sellers.
Schoenherr has advised Erste Group Bank on its EUR 500 million share buyback, followed by a cancellation of treasury shares and a reduction of the company’s share capital.
Contributed by Arzinger
The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures.
BDK Advokati has entered North Macedonia via a cooperation agreement with a local qualified independent Attorney at Law Josif Filipovski. Moreover, the firm has expanded its presence in Bosnia & Herzegovina with the addition of Melika Basic.
On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.
Unlike many neighboring countries, the Trademark Law of Bosnia and Herzegovina explicitly addresses bad faith trademark applications as both relative grounds for refusal and as a basis for contesting a trademark through court proceedings. In other words, trademark applications filed contrary to the principles of good faith and fair dealing can be challenged either through an opposition before the Institute for Intellectual Property or by filing a lawsuit before the competent court. While this dual system theoretically provides two distinct avenues of recourse, practical experience shows that both mechanisms tend to merge into a single, judicially driven process. Below, we analyze the key lessons drawn from recent case law concerning bad faith trademark filings.
In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?
Navigating the challenges of Bulgaria’s legal and regulatory environment requires a careful balance, particularly in light of ongoing political instability, according to Karushkov Legal Solutions Founder Mitko Karushkov who takes aim at systemic issues affecting legislative processes, judicial stability, and regulatory reliability, while highlighting the importance of proactive risk management and the potential for growth amidst uncertainty.
Vukmir & Associates, working with Taylor Wessing’s teams in Germany and Ireland, has advised Lightspeed Venture Partners on leading the EUR 5.8 million seed financing round in Orqa. Flynn O'Driscoll reportedly advised Orqa.
With the Cybersecurity Act entering into force in February 2024, Croatia was, unexpectedly, one of the first EU member states to implement NIS2, and it seems this happened just in time. Throughout this year as well as in 2023, government and financial institutions, companies, and even airports and hospitals were targets of multiple cyberattacks. Unsurprisingly, these resulted not only in temporary loss of availability of crucial services but also in loss of data – at times even life-and-death patient data.
Six years after the introduction of the GDPR, many businesses still treat it as if it were a “new law,” a regulation to be addressed later, rather than a priority today. It took years for the GDPR and data protection in general to even make their way onto Q&A lists in legal due diligence, competing alongside other established legal risks when analyzing target companies.
White & Case has advised TPG Real Estate on the EUR 470 million sale of CT Real Estate to funds managed by Blackstone. Schoenherr, working with Simpson Thacher & Bartlett, advised Blackstone. Talers reportedly advised TPG Real Estate as well.
Havel & Partners, working with Milbank, has advised Capiton on the sale of Gritec to the Viessmann Generations Group. Rowan Legal advised the Viessmann Generations Group. Frankfurt-based Schalast and the Nuernberg office of Roedl & Partner reportedly advised the Viessmann Generations Group as well.
Rowan Legal has advised AMiT on its acquisition of the Bustec Group. Act Legal reportedly advised the sellers.
Lambadarios has advised BriQ REIC on its merger with Intercontinental International REIC. Machas & Partners advised Intercontinental International REIC.
Koutalidis, working with Clifford Chance, has advised Attica Bank on a EUR 220 million synthetic securitization of its SME and Large Corporate portfolio.
Law 5162/2024 (“New Law”), which aims to enhance business innovation and competitiveness through tax incentives for investments in start-ups, introduces significant changes in Law 4172/2013 (Income Tax Code) and Law 5038/2023 (Immigration Code) providing substantial benefits and opportunities to Angel Investors.
Szabo Kelemen & Partners Andersen Attorneys has advised ADEX on the merger of BSP Energy Exchange, HUPX Hungarian Power Exchange, and SEEPEX. Kinstellar advised HUPX and the Hungarian Transmission System Operator Mavir on the deal. ODI Law advised BSP. Isailovic & Partners advised SEEPEX.
In November 2024, multiple sources reported that the Hungarian government is considering the introduction of significant construction regulations in 2026, based on a leaked draft.
CMS has advised Tozsdepalota on its sale of the Tozsdepalota Building. DLA Piper advised the buyers, Granit Asset Management.
Cobalt has advised Hanza on the acquisition of the Leden Group.
Cobalt has advised Inbank on a synthetic securitization transaction involving the European Investment Bank and the European Investment Fund.
Ellex has advised HOF Ehf on the sale of Baltic IKEA stores to Inter IKEA Group. Walless advised FE Corporation, the sellers of the Lithuanian store operator. Sorainen reportedly advised Inter IKEA Group.
RPHS Law has advised Swinto on the sale of the majority of its shares to Virtus Invesco Partners. ICL Legal advised the buyers.
Kalo & Associates has advised Starlink on establishing its business in Kosovo.
Inlex Managing Partner Shkumbin Asllani reports on the country's ambitious goals for economic growth outlining Kosovo's recent legislative efforts to promote renewable energy, attract investments, and develop capital markets while remaining cautiously optimistic, noting that implementation could face challenges.
The labor shortage issue has been a growing problem in the job market for a long time now. In the long-term employers are looking for ways to improve working conditions, to keep employees engaged and to attract new ones. One of the ways to fix the labor shortage issue is employee poaching. What are the legal and ethical aspects of employee poaching and how to lessen the risk of another job market recruiting employees?
Ellex has advised HOF Ehf on the sale of Baltic IKEA stores to Inter IKEA Group. Walless advised FE Corporation, the sellers of the Lithuanian store operator. Sorainen reportedly advised Inter IKEA Group.
Cobalt has advised Decathlon on a new lease agreement with Spice Home shopping center in Riga, Latvia. Azanda & Associates reportedly advised Spice Home.
TGS Baltic has advised HeavyFinance on forming a partnership with Multitude Bank – backed by the European Investment Fund’s Sustainability Guarantee – to bring more than EUR 17.5 million in funding for farmers in Lithuania and Poland.
Ellex has advised Delfi Lithuania on its acquisition of the EBIT and HR Week conferences in Lithuania and Latvia.
Fort Legal has advised EfTEN Capital on the EUR 7.5 million financing for Releven for the development of the Horizontai project in Vilnius. Motieka advised Releven.
BDK Advokati has entered North Macedonia via a cooperation agreement with a local qualified independent Attorney at Law Josif Filipovski. Moreover, the firm has expanded its presence in Bosnia & Herzegovina with the addition of Melika Basic.
Labor shortages have emerged as a pressing issue across CEE, prompting diverse responses from governments, businesses, and the public as they navigate the challenges of workforce gaps and economic sustainability.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?
Labor shortages have emerged as a pressing issue across CEE, prompting diverse responses from governments, businesses, and the public as they navigate the challenges of workforce gaps and economic sustainability.
Gladei & Partners has advised the Trans-Oil Group on refinancing its USD 500 million, senior secured Eurobond due 2026.
On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.
Montenegro-based Jovovic, Mugosa & Vukovic and Serbia-based Zivkovic Samardzic have joined the South East Europe Legal Group.
Moravcevic, Vojnovic and Partners in cooperation with Schoenherr has advised Agri Europe Cyprus on its acquisition of a 74.94% stake in Hipotekarna Banka Podgorica. Komnenic & Partners advised a group of corporate, family, and individual sellers.
Montenegro is seeing major changes with the election of a new Supreme Court President, the creation of a state-owned development bank, and tax reforms under the Europe Now 2 program, aligning the country with EU standards, according to Vujacic Law Office Partner Jelena Vujisic.
Linklaters has advised Investika Real Estate Fund and its joint venture partner Bud Holdings on the acquisition of a 212,500-square-meter logistics portfolio in Poland from commercial real estate developer 7R. A&O Shearman reportedly advised 7R.
Historically, Poland’s Renewable Energy Sources (RES) sector has relied heavily on long-term project finance, with loan tenors of 15-18 years from project completion. In the current local financial landscape, high interest rates persist with WIBOR remaining elevated despite attempts at correction, and the cost of long-term interest rate swaps continuing to soar.
For years, Poland has held the unenviable position of leading the race in delays when implementing various EU laws, especially in the digital sector. This has resulted, and continues to result, in multimillion-euro fines that Poland is compelled to pay to the EU.
Filip & Company has advised Mozaik Investments on its sale of a minority stake in 5 To Go to Invenio Partners and Accession Capital Partners. Schoenherr advised ACP. Dentons reportedly advised Invenio Partners.
Teodorescu Partners has advised Autonom on its acquisition of a 30% stake in Meridian Taxi from Dan Boabes. Legalway advised Mr. Boabes and Meridian Taxi.
Musat & Asociatii has won an appeal before the High Court of Cassation and Justice against a prior decision by the Bucharest Court of Appeal, allowing the retrial of the review application in the case concerning the torturers of Romanian anti-communist dissident Gheorghe Ursu.
Contributed by Clifford Chance.
Contributed by Alrud.
The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures.
In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.
BDK Advokati has advised Vetti Group on its acquisition of 80% of Belgrade-based animal healthcare institution Vet Planet Clinic from Andrija Dakovic. Mikijelj, Jankovic & Bogdanovic advised the seller.
Montenegro-based Jovovic, Mugosa & Vukovic and Serbia-based Zivkovic Samardzic have joined the South East Europe Legal Group.
White & Case has advised TPG Real Estate on the EUR 470 million sale of CT Real Estate to funds managed by Blackstone. Schoenherr, working with Simpson Thacher & Bartlett, advised Blackstone. Talers reportedly advised TPG Real Estate as well.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?
On December 12, 2024, Wolf Theiss announced that Standard Motor Products' acquisition of Nissens Automotive (as reported by CEE Legal Matters on July 23, 2024) has closed.
Szabo Kelemen & Partners Andersen Attorneys has advised ADEX on the merger of BSP Energy Exchange, HUPX Hungarian Power Exchange, and SEEPEX. Kinstellar advised HUPX and the Hungarian Transmission System Operator Mavir on the deal. ODI Law advised BSP. Isailovic & Partners advised SEEPEX.
The Slovenian Financial Administration has recently provided clarification on the tax treatment of share buybacks conducted through intermediaries. This article offers valuable insights for companies and tax professionals navigating the complexities of corporate restructuring and employee incentive programs.
As 2024 wraps up, Slovenia is thriving with growth in IT, healthcare, real estate, and renewables, according to Kavcic, Bracun & Partners Partner Aleksandra Mitic, who notes that despite external challenges, optimism is high and key projects and investments are setting the stage for an exciting year ahead.
Ergun has promoted former Senior Associate Irmak Yensel Nergiz to Partner.
Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki have advised Agave Games on its USD 18 million Series A funding round. Kinstellar Turkish affiliate KST Law and Mariott Harrison advised Felix Capital and Balderton Capital who co-led the round.
Turkiye has recently witnessed a surge in initial public offerings. White & Case affiliate law firm GKC Partners’ Head of Capital Markets Practice Derin Altan and Kolcuoglu Demirkan Kocakli Partner Hasan Yasar explore this phenomenon and what it means for the wider market conditions.
The Law of Ukraine on Tax Increases №4015-ІХ, adopted by the parliament and awaiting presidential signature, came into effect on November 30, 2024. Below are the key changes to the taxation system.
Popescu & Asociatii Partner Loredana Popescu and Avellum Partner Maksym Maksymenko look at the current status of agribusiness in their countries – both traditional powerhouses in the sector – highlighting how they are managing to show resilience despite tough years.
A leniency procedure has been in place in Ukraine for over two decades. However, until recently, there was no public record of its successful application by the Antimonopoly Committee of Ukraine (AMC).