Brandl Talos has advised DirectSens on the sale of its LactoSens biosensor technology to Kerry Group. Wolf Theiss reportedly advised Kerry Group.

CMS has advised Axpo Polska on the acquisition of a biogas plant producing green energy primarily from agricultural waste.

On 1 October 2024, the Hungarian Government published a decree on the basic regulations of settlement planning and construction requirements, which fundamentally rewrites and clarifies the frameworks for construction and property planning in many areas. Among these, one regulates the placement of solar panels and solar collectors, while another sets out the general framework for the installation of wind turbines.

The proposed Draft Law on Amendments and Supplements to the Law on Games of Chance brings several important changes, certain new legal solutions as a result of the needs of practice and market development, harmonization of the text of the law with technological development in this area, but also introduces new obligations to organizers and significantly increase in fees for obtaining approval and for organizing of games of chance.

Fort has advised Bondora on entering the Lithuanian consumer credit market.

CMS has advised Solar Park Trakia on the licensing of the 50-megawatt Sinotovo photovoltaic project by the Bulgarian Energy and Water Regulatory Commission as well as on its financing from Postbank.

Koutalidis has advised the Hellenic Gas Transmission System Operator on its issuance of a bond loan of up to EUR 710 million with National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank as acting as arrangers, NBG and Piraeus Bank also serving as bondholder coordinators, and Alpha Bank acting as bondholder agent and administrative agent. Lambadarios advised the banks.

Schoenherr, working with Proskauer Rose and Paul Hastings, has advised Luminator Technology Group and Wingspire Capital on USD 40 million term and revolving loans granted to LTG.

CMS, working with Vedder Price, has advised Ceska Sporitelna and Ceskoslovenska Obchodni Banka on the financing for the Silon Group, including a sustainability-linked loan, which will be linked to the environmental goals of the entire group. Eversheds Sutherland advised the Silon Group.

Startups are keen to use motivational tools like the Employee Stock Option Plan (ESOP). These programs do not burden the company with the economic cost of paying additional cash compensation. This way, startups can preserve their cash flow, which is especially sensitive during the initial stages of business development. Simultaneously, such programs effectively motivate employees, who have an interest in increasing the value of the company, as they become its co-owners. For this reason, the cap table of almost every startup today includes an entry for an option pool. However, not every founder wants or can commit to permanently transferring part of the company to employees. In such cases, the Phantom Stock Option Plan (PSOP) presents an interesting alternative.

TGS Baltic, working with Linklaters, has advised sole bookrunner Citigroup Global Markets Europe on the tap issue of EUR 40 million 14.50% senior secured bonds by the Latvian national airline AirBaltic. Cobalt, working with Dentons, advised AirBaltic.

Clifford Chance has advised mBank on R.Power's issuance of three series of secured green bonds with a total nominal value of PLN 530 million.

CMS has appointed Warsaw-based CMS Partner Malgorzata Urbanska as the firm's new Co-Head of the Global Antitrust, Competition & Trade Group alongside Partner Marquard Christen.

From 1 August 2024, the maximum fine that can be imposed by the Hungarian Competition Authority equals 15% of the undertaking’s net turnover. According to the Authority’s statement, its primary objective is not to impose fines, however, the increase in the potential financial penalty is a strong deterrent. In any case, it can be observed that the Authority is becoming more and more stringent concerning fines: while in 2023 it imposed fines totalling HUF 2.2 billion, the total amount of fines imposed this year exceeded HUF 2 billion by August.

On October 10, 2024, the Serbian Commission for the Protection of Competition (Commission) launched an investigation against four large retail chains – Delhaize Serbia, Mercator-S, Univerexport, and DIS – over possible anti-competitive practices, i.e., alleged retail price-fixing and coordination. The four major retailers account for over 50% of the Serbian retail market.

The European Commission recently launched the consultation phase on two essential draft regulations to strengthen the EU Carbon Border Adjustment Mechanism (CBAM) regulation’s operational structure. These include the draft Implementing Regulation for Authorized Declarants and creating a comprehensive CBAM registry. Stakeholders can submit feedback until November 28, 2024. These regulations clarify key aspects of the definitive CBAM implementation, set to begin on January 1, 2026.

The Croatian Lobbying Act (Official Gazette 36/2024, the “Act”) entered into force on 1 October 2024, marking Croatia’s first comprehensive regulation of lobbying activities. The Act establishes significant new rules for lobbyists and companies alike, requiring compliance when interacting with public officials to advocate for business or organisational interests. This regulatory development represents a transformative shift in how entities engage with policymakers and will necessitate careful attention to adherence with these newly established standards.

The new Waste Management Law of Montenegro (“the Law”), which came into force on April 12, 2024, represents a step further towards harmonizing Montenegrin legislation with the acquis communautaire, namely key European Union (“EU”) directives in the area of waste management.

Paksoy, working with Milbank, has advised General Atlantic on its USD 500 million lead investment in Insider's series E funding round.

SSK&W has advised MEP Solutions on its investment in Poland.

Brandl Talos, working with Bryan Cave Leighton Paisner, has advised Sportradar on the acquisition of the assets of XLMedia PLC's North American business for USD 30 million. Ashurst reportedly advised XLMedia.

Koutalidis has advised the Hellenic Gas Transmission System Operator on its issuance of a bond loan of up to EUR 710 million with National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank as acting as arrangers, NBG and Piraeus Bank also serving as bondholder coordinators, and Alpha Bank acting as bondholder agent and administrative agent. Lambadarios advised the banks.

Dentons has advised PKO Bank Polski on the financing granted to VSB Group's subsidiary VSB Polska for its investment in the 41.6-megawatt Raciborz onshore wind park. Solivan advised VSB.

CMS has advised DNB Bank ASA and PKO Bank Polski on the refinancing of two portfolios of photovoltaic projects owned by GoldenPeaks Capital. Clyde & Co and Dentons advised GoldenPeaks Capital.

On April 22, 2024, Everlegal announced it had been appointed to provide legal support to the United Nations High Commissioner for Refugees – the UN Refugee Agency – for its activities in Ukraine.

Noor and the Lithuanian Red Cross Society have executed a memorandum of cooperation based upon which Noor will provide continuous legal advisory and assistance to the Red Cross on various legal matters.

Everlegal has partnered up with the Norwegian Refugee Council in Ukraine and will be offering the NRC legal support on a number of day-to-day legal issues.

JDP has advised the consortium of Gulermak and Budimex whose bid was selected in a tender for the construction of the Jawornik–Lutcza section of the S19 expressway.

CMS has advised the Czech Skoda Group on winning a second order from Bulgaria's Ministry of Transportation for five four-car electric trains.

In the past few years, North Macedonia has made significant strides in developing its infrastructure. Attracting foreign investors is the main strategy to finance, construct, develop, and manage essential infrastructure projects. The government also engages in PPPs, recognizing their potential to leverage private sector expertise and capital in public service delivery.

Rymarz Zdort Maruta has advised the bankruptcy trustee of Getin Noble Bank on the sale of Noble Securities to Skarbiec Holding.

Rymarz Zdort Maruta has advised the bankruptcy trustee of Getin Noble Bank and Idea Bank on the sale of a total holding of approximately 86.83% of the shares in Noble Funds TFI fund management company to VeloBank.

A creditor has forgiven part of a debtor's debt on the condition that the debtor will make every effort to avoid insolvency and repay at least the remaining, unforgiven part. However, the creditor also set a resolutive condition: if the debtor were to become insolvent (i.e. the court declared it bankrupt), the debt forgiveness agreement was to be void from the outset and the debtor would be obliged to repay the debt in full.

Startups are keen to use motivational tools like the Employee Stock Option Plan (ESOP). These programs do not burden the company with the economic cost of paying additional cash compensation. This way, startups can preserve their cash flow, which is especially sensitive during the initial stages of business development. Simultaneously, such programs effectively motivate employees, who have an interest in increasing the value of the company, as they become its co-owners. For this reason, the cap table of almost every startup today includes an entry for an option pool. However, not every founder wants or can commit to permanently transferring part of the company to employees. In such cases, the Phantom Stock Option Plan (PSOP) presents an interesting alternative.

In a bid to enhance legal competitiveness, a new legislative proposal aims to streamline regulations in environmental protection, waste management, consumer rights and workplace safety, boosting the competitiveness of domestic businesses. The proposal is currently under public consultation, but it already highlights several key changes that may be of interest to various sectors.

In recent weeks, the Slovak Parliament has approved two laws that could substantially increase labour costs for employers in Slovakia. One amendment to the Minimum Wage Act raises the automatic determination rate of the minimum wage, while another introduces a new contribution to cover sports activities for employees' children.

TGS Baltic has advised Simpact Ventures on its investment in Ligence as part of a round that also saw the participation of Coinvest Capital, the European Innovation Council, Estonian venture capital firm Lemonade Stand, the NGL business angel syndicate, and private investor Rita Sakus.

MFW Fialek has advised investor and business angel Aniela Hejnowska and a group of investors on an investment agreement for a joint venture and the acquisition of 90% of the shares in Future Processing Healthcare, now known as Graylight Imaging. GWW reportedly advised Future Processing as the seller.

CMS has advised Scope Fluidics on an agreement with Bio-Rad Laboratories under which it received USD 30 million in settlement of conditional payments related to the sale of the Curiosity Diagnostics SPV.

Rymarz Zdort Maruta has successfully represented DESA Unicum before the Internet Domain Arbitration Court at the Polish Chamber of Information Technology and Telecommunications in a case brought by Desa Dziela Sztuki i Antyki concerning the infringement of rights as a result of an agreement for the maintenance of the desa.pl domain name.

Ments has launched a new Dispute Resolution practice in Slovakia with the addition of Counsel Tomas Langer and Associate Anna Kocurova.

TGS Baltic has successfully represented the Estonian Transport Administration in two court cases against cleaning and maintenance service provider Krausberg Eesti.

Stratulat Albulescu has advised Express Euroscan on the acquisition of Denis Spedition SRL and Denis Spedition GMBH.

Clifford Chance has advised Santander and Citi as the initial purchasers on the debut EUR 300 million green bond issuance of MLP Group.

Schoenherr has advised Trans-Oil Group on the acquisition of Frial Terminal located in the Port of Constanta, Romania.

Kyriakides Georgopoulos announced that the Hellenic Republic Asset Development Fund's sale of a 67% stake in the Heraklion Port Authority to a consortium consisting of Grimaldi Euromed and Minoan Lines (as reported by CEE Legal Matters on January 11, 2024) closed on September 18, 2024.

PeliPartners has advised Bogdan Idu and his group companies on the sale of an LPG maritime terminal in Romania to Nawaf Salameh Family Office Group.

Your Legal Partners’ Katerina Politopoulou, Maria Golfinopoulou, and Prokopis Linardos Talk About the Deal of the Year in Greece.

Paksoy, working with Milbank, has advised General Atlantic on its USD 500 million lead investment in Insider's series E funding round.

Schoenherr, working with Proskauer Rose and Paul Hastings, has advised Luminator Technology Group and Wingspire Capital on USD 40 million term and revolving loans granted to LTG.

TGS Baltic has advised Simpact Ventures on its investment in Ligence as part of a round that also saw the participation of Coinvest Capital, the European Innovation Council, Estonian venture capital firm Lemonade Stand, the NGL business angel syndicate, and private investor Rita Sakus.

Dentons has successfully represented an unlawfully sterilized woman in administrative court proceedings against the Ministry of Health of the Czech Republic regarding a denied claim for compensation and subsequent appeal on a pro bono basis.

Wardynski & Partners has represented the Civil Society Drug Policy Initiative on a pro bono basis in a dispute with Meta.

Integrites has provided pro bono defense representation to a soldier of the Armed Forces of Ukraine concerning criminal charges brought against him by the military command. The firm also advised the soldier's family on obtaining monetary compensation.

Despite 2024 being a relatively slow year in terms of real estate transactions, Act Legal Partners Adam Kaplonyi and Gergely Ban see ample signs to be optimistic about the sector's outlook in Hungary.

Stratulat Albulescu has advised World Class on a lease of space in the Moldova Mall in Iasi from Prime Kapital.

Schoenherr has advised Seidel Hungaria Ingatlankezelo on its sale of an industrial asset located in Ajka, Hungary to Muszertechnika Holding. Molnar and Bereczky advised Muszertechnika Holding.

North Macedonia, strategically located in the heart of the Balkan Peninsula, south-eastern Europe, is a landlocked country with a unique advantage. Its position between two main European corridors, coupled with political and democratic stability and a favorable tax and regulatory framework, makes North Macedonia a promising destination for potential foreign investors. The country offers abundant possibilities, especially in greenfield investments, renewable energy, software, IT services, logistics, construction, cannabis production, agriculture, food services, tourism, etc.

The proposed Draft Law on Amendments and Supplements to the Law on Games of Chance brings several important changes, certain new legal solutions as a result of the needs of practice and market development, harmonization of the text of the law with technological development in this area, but also introduces new obligations to organizers and significantly increase in fees for obtaining approval and for organizing of games of chance.

Nicolas Wolski has become the new Head of Tax at BPV Huegel, taking over from Partner Gerald Schachner.

Paksoy, working with Milbank, has advised General Atlantic on its USD 500 million lead investment in Insider's series E funding round.

Rymarz Zdort Maruta has successfully represented DESA Unicum before the Internet Domain Arbitration Court at the Polish Chamber of Information Technology and Telecommunications in a case brought by Desa Dziela Sztuki i Antyki concerning the infringement of rights as a result of an agreement for the maintenance of the desa.pl domain name.

Bird & Bird has advised Iron Mountain on its acquisition of Wisetek.

Romania-based Mares & Mares and Cyprus-based Emilianides Katsaros have formed a partnership spanning Cyprus, Romania, and Greece.

The European Public Prosecutor’s Office (EPPO) is an independent body of the European Union (EU) tasked with investigating criminal cases infringing the financial interests of the EU. The EPPO was formally established in 2017 and started operations in 2021. The first and current head of the European Chief Prosecutor is Laura Codruta Kovesi, former Chief Prosecutor of the National Anticorruption Directorate (Directia Nationala Anticoruptie; DNA), the Romanian agency tasked with investigating corruption cases.

Former Managing Associates Jesse Kivisaari and Lembit Tedder have been promoted to Partner at Cobalt Estonia.