Paksoy has advised Turkish flour producer Eksun Gida on its TRY 980 million IPO on Borsa Istanbul's Star Market.

It is well known that the legislation on agricultural land and forestry is very strict and diverse, especially in comparison with the legislation on other private law matters. However, complying with these regulations must be even more difficult if the person who wants to acquire the ownership of a land is a citizen of another country and therefore is not familiar with the relevant Hungarian legislation. With the following, we offer a brief summary of the mandatory aspects of land acquisition in Hungary.

Radu Taracila Padurari Retevoescu has advised Zarea on its acquisition of a 70% stake in the Domeniile Dealu Mare Urlati group. The Carmen Medar Law Office advised the seller.

Gugushev & Partners has advised Alfastar Ventures on the registration of a Bulgarian EuVECA alternative investment funds manager.

Adon Legal has advised Taiwanese capital company FinCause on obtaining an electronic money institution license from the Bank of Lithuania.

Deloitte Legal Romanian affiliate Reff & Associates has successfully represented NEPI Rockcastle’s Promenada Mall Bucharest before the Bucharest Court in an urban planning-related administrative dispute resulting in the end of the suspension of the Urban Plan for Bucharest's Second District.

Norton Rose Fulbright has advised PGE Polska Grupa Energetyczna on a PLN 2.3 billion ESG financing from a banking consortium. DLA Piper advised the banks.

Bernitsas has advised coordinator Intrum Hellas on the secondary sale and transfer of the Tethys securitized loan receivables portfolio – originated by Piraeus Bank – to a consortium consisting of SMERemediumCap, Latonia Enterprises, and WHG Europe. Karatzas & Partners advised the buyers.

Loredana Coras has joined PKO Bank Polski as a Legal Expert in Romania.

Paksoy has advised Turkish flour producer Eksun Gida on its TRY 980 million IPO on Borsa Istanbul's Star Market.

Until 2014, less than 10 percent of the largest companies in the European Union regularly disclosed non-financial information about their operations as part of reports that supplement annual financial consolidated reports. Although they were obliged to do so by the then-current Directive of the European Union, the requirements of the existing legislation proved to need to be more transparent and more effective.

CMS has advised Slovenia's SID Bank on its EUR 140 million German law-governed issuance of senior unsecured fixed-rate bonds with a seven-year maturity.

Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised the China Baowu Steel Group Corporation Limited on the global merger control and foreign investment filings for its full acquisition of the Sinosteel Group Corporation Ltd.

2022 was a year of significant legislative changes in the field of competition, and 2023 is set to present several challenges for the business environment. This article discusses three of the most significant competition law challenges faced by Romanian companies in 2023: no-poaching, foreign direct investment (FDI), and abuse of superior bargaining position.

“Even if the deleted correspondence is restored, the act of deletion is considered by the Competition Board as hindering the on-site investigation.”

Prague-based Attorneys Tomas Bures and Jan Varecha and Bratislava-based Attorney Eva Hromadkova have been appointed as Associate Partners at PRK Partners.

Avellum has supported the action group led by Ukraine’s Ministry of Finance and the State Financial Monitoring Service in its efforts towards the adoption of restrictive measures against Russia by the Financial Action Task Force.

The Russian invasion is still ongoing, affecting all areas of life in Ukraine, but there are slivers of hope and reasons to stay positive and optimistic, according to Kinstellar Partner Alla Kozachenko.

Stratulat Albulescu has advised the main shareholder of Stera Chemicals on the sale of 70% of their stake in Stera to the Oqema Group. Stalfort and, reportedly, Kapellmann advised Oqema AG in Romania and Germany, respectively.

Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised the China Baowu Steel Group Corporation Limited on the global merger control and foreign investment filings for its full acquisition of the Sinosteel Group Corporation Ltd.

Greenberg Traurig has announced the establishment of its new Data Center practice in the firm's Warsaw office, to be headed by Counsel Adam Narloch.

Did You Know that, according to the Activity Rankings function of the CEELMDirect website, only eleven lawyers in CEE have worked on four or more reported Energy/Natural Resources deals in CEE since March 1, 2022?

Norton Rose Fulbright has advised PGE Polska Grupa Energetyczna on a PLN 2.3 billion ESG financing from a banking consortium. DLA Piper advised the banks.

Rymarz Zdort Maruta has advised Kajima Partnerships and Griffin Capital Partners company Cerceda on its acquisition of Hymon Fotowoltaika from BNS Capital. Gessel and HWW Hewelt Wojnowski i Wspolnicy advised the seller.

In the 25 January 2023 final decision in the case of Ukraine and the Netherlands v. russia, the Grand Chamber of the European Court of Human Rights (“ECHR”) declared the complaints partly admissibile. The Grand Chamber will now decide the case on the merits.

Ellex Valiunas has successfully represented Neringa Dangvyde Macate before the European Court of Human Rights, on a pro bono basis, in a dispute related to restrictions on the distribution of Dangvyde Macate’s fairy tale book, Amber Heart, depicting same-sex relationships and its subsequent labeling as harmful to children under the age of 14.

PRK Partners has successfully represented the interests of a client who completed a gender transition process in a matter regarding the issuance of official documents bearing the applicant's new personal data before the Supreme Administrative Court.

Sorainen has successfully represented Siauliu Plentas before the Supreme Court of Lithuania in a dispute related to the offset of contractual late interest with the Lithuanian Road Administration.

Prague-based Attorneys Tomas Bures and Jan Varecha and Bratislava-based Attorney Eva Hromadkova have been appointed as Associate Partners at PRK Partners.

Entrepreneurs in difficulty, who are struggling with the performance of a contract, may benefit from a restructuring procedure. Any restructuring procedure guarantees the protection of executed contracts, with the most effective solution being the reorganization procedure (postępowanie sanacyjne).

Bernitsas has advised coordinator Intrum Hellas on the secondary sale and transfer of the Tethys securitized loan receivables portfolio – originated by Piraeus Bank – to a consortium consisting of SMERemediumCap, Latonia Enterprises, and WHG Europe. Karatzas & Partners advised the buyers.

Finding its balance after a general election, Estonia is looking at a year of potential IT sector labor force shake-ups, a likely uptick of reorganization and bankruptcy procedures, as well as a potential real estate sector slowdown, according to Magnusson Estonia Managing Partner Jaanus Magi.

Prague-based Attorneys Tomas Bures and Jan Varecha and Bratislava-based Attorney Eva Hromadkova have been appointed as Associate Partners at PRK Partners.

Selling a part of an undertaking and the consequent transfer of a part of the business to another employer raises several practical and legal issues. This applies in particular to employees assigned to several organisational units, including the transferred part of the undertaking. According to CJEU case law, such employees' employment contracts may be divided as long as this does not entail a deterioration in the working conditions and does not adversely affect safeguarding employee rights.

It has recently been noted that social actors show a growing interest in concluding collective agreements at various levels, the justification being manifold: this either represents a way to retain employees, or it is an attempt to align to market practices, etc.

The announced amendments to the Law on Foreigners and the Law on the Employment of Foreigners contain significant novelties. The most important changes relate to the simplified and digitized procedure for obtaining a residence and work permit for foreigners, new categories of foreigners who will be able to work and/or establish employment only based on residence permit, as well as the extended period of validity of permits.

NKO Partners has advised the Dr. Max Group on its acquisition of the Vranje-based Nova Pharm pharmacy chain in Serbia. 

Gessel has advised Urteste on the public offering of its new share issuance and switching its market listing from the ASO NewConnect to the regulated market of the Warsaw Stock Exchange.

Aksan has advised the Medicover Group on the acquisition of Guven Laboratuvarlari from founder Ahmet Sahin. BeyKem reportedly advised Ahmet Sahin on the deal.

On February 24, 2023, the Latvian Constitutional Court issued a long-awaited Judgement in case 2022-03-01 confirming that the current control mechanism over arbitration in Latvia is incomplete and unconstitutional. This means that the government will now be required to introduce a procedure for setting aside arbitral awards made by tribunals seated in Latvia.

CMS Sofia has successfully represented Xylem in settling a dispute with a Bulgarian hydropower producer before the ICC International Court of Arbitration.

Cobalt has successfully represented the interests of the Suislepp family against false allegations published in Postimees and Louna-Eesti Postimees relating to Ilvi Suislepp's tenure as a school principal. 

CEE Attorneys Boanta Gidei si Asociatii has advised CEE Special Situations Fund portfolio company Aplast Wood Industry on its sale of a land plot near Bucharest including 12,500 square meters of logistics assets to Viva Toys.

Djingov Gouginski Kyutchukov & Velichkov has advised the European Innovation Council on leading a EUR 2.5 million investment round in Transmetrics. Dinova Rusev & Partners reportedly advised Transmetrics.

Drakopoulos has advised the Orphee Beinoglou shareholders on their sale of an 80% stake in the company to HIG Capital. Your Legal Partners advised the buyer. AKL reportedly advised Eurobank on financing aspects.

Clifford Chance has advised Baltic Hub on the expansion and refinancing of its existing debt and the construction of the third deep-water sea container terminal in Gdansk.

Ellex and Wardynski & Partners, working with Thommessen, have advised Hampidjan on its acquisition of the Morenot Group from FSN Capital Partners. Norway's Haavind and Iceland's BBA Fjeldco advised FSN Capital.

Soltysinski Kawecki & Szlezak has advised Sea/ by Maritech company Maritech Holdings Limited on its acquisition of Setapp. Lukasz Lenartowicz reportedly advised the seller.

Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised TechOne Venture Capital on its investment in Vanora Ventures.

Djingov Gouginski Kyutchukov & Velichkov has advised the European Innovation Council on leading a EUR 2.5 million investment round in Transmetrics. Dinova Rusev & Partners reportedly advised Transmetrics.

Gugushev & Partners has advised Alfastar Ventures on the registration of a Bulgarian EuVECA alternative investment funds manager.

Sorainen has provided pro bono advice to Local Ocean on intellectual property matters related to its development of sustainable and eco-friendly farming technology for growing high-quality shrimp.

Ellex Valiunas has successfully represented Neringa Dangvyde Macate before the European Court of Human Rights, on a pro bono basis, in a dispute related to restrictions on the distribution of Dangvyde Macate’s fairy tale book, Amber Heart, depicting same-sex relationships and its subsequent labeling as harmful to children under the age of 14.

Integrites has signed a pro bono collaboration agreement with the Ministry of Veterans’ Affairs of Ukraine and the Affordable Housing Institute aimed at developing housing for war veterans and their families.

CEE Attorneys Boanta Gidei si Asociatii has advised CEE Special Situations Fund portfolio company Aplast Wood Industry on its sale of a land plot near Bucharest including 12,500 square meters of logistics assets to Viva Toys.

Bernitsas has advised coordinator Intrum Hellas on the secondary sale and transfer of the Tethys securitized loan receivables portfolio – originated by Piraeus Bank – to a consortium consisting of SMERemediumCap, Latonia Enterprises, and WHG Europe. Karatzas & Partners advised the buyers.

Greenberg Traurig has announced the establishment of its new Data Center practice in the firm's Warsaw office, to be headed by Counsel Adam Narloch.

At the extraordinary session of the Parliament of Montenegro held on February 28, 2023 a set of tax acts was adopted. The Parliamentary Committee for Economy, Finance and Budget of Montenegro has given its support for introducing aforementioned acts, which will result in higher budget revenues for the state through higher taxation and the introduction and change of excise duties on certain products.

Polish lawyers are actively discussing two legislative acts – one regulating family foundations and the other focused on remote work – set to impact their practices, according to KWKR Konieczny Wierzbicki & Partners Managing Partner Michal Konieczny.

According to Law no. 17/2014 on the regulation of the sale of agricultural land located outside a built-up area (Ro. extravilan), an 80% tax applies to the sale of such land if it is sold before the expiry of 8 years from its purchase.

Greenberg Traurig has announced the establishment of its new Data Center practice in the firm's Warsaw office, to be headed by Counsel Adam Narloch.

Companies who are the victims of trade secret thefts by their employees in Hungary are protected on more levels: in addition to relying on the Business Secret Act, they can invoke the Labour Code, as well.Less clear is to which court should employers turn to in case they decide to sue their former employee and the competitor, employing the latter. Is the commercial court or the labour court the right forum? We analyse the question in the light of a recent judgment of the Hungarian Supreme Court.

Wolf Theiss, working with Freshfields’ Frankfurt office, has advised Alpen Glasfaser on a EUR 417.5 million financing from a consortium including UniCredit Bank Austria, KfW IPEX-Bank, La Banque Postale, Erste Group Bank, Natixis, and Hypo NOE. Binder Groesswang, working with Clifford Chance’s Frankfurt office, advised the banks.

Former PNSA Attorney Alexandru Nicolae and former Prosecutor Liviu Dascalescu have teamed up to establish the Dascalescu Nicolae & Partners law firm in Romania.

White-Collar Crime Attorneys Danilo Nikolic and Luka Nikolic have joined Jankovic Popovic Mitic as Partners in the firm.

Former Clifford Chance Counsel Pawel Pogorzelski has joined EY Law Poland as the new White-Collar Crime Advisory Leader.