CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The broader online advertising sector will be affected by the EU Digital Markets Act (DMA) and Digital Services Act (DSA), even though they apply directly only to certain types of organisations, with expanded obligations on the largest organisations.
Dear readers, during the New Year's rush, it may have escaped your attention that on 29 December, the Amendment to the Medicines Act was published in the Collection of Laws, in volume 203 under number 456/2023 Coll. Barring one exception, which we discuss below, the amendment already went into effect on 1 January 2024.
Continuing our review of 2023, did you know that a total of twelve lawyers worked on seven or more reported client matters in Poland in 2023 – a step up from the ten lawyers who worked on that many in 2022? The 2023 partner leaderboard was led by Tomasz Rogalski of Norton Rose Fulbright, who worked on a market-leading 15. Clifford Chance’s Andrzej Stosio, whose 11 reported deals in 2022 led the market, repeated that number in 2023, tying him for second place with White & Case’s Marcin Studniarek.
Dentons has advised HB Reavis on the sale of its in-house-developed technology platform Symbiosy to HqO.
Dentons has advised Santander Bank Polska and BNP Paribas Bank Polska on granting a PLN 408 million financing to Nowel. Clifford Chance reportedly advised Nowel.
Dentons has advised sponsor Yevulei Shemesh Renewable Energy Group the PLN 335 million financing extended by mBank and the EBRD for the construction and operation of a 48-megawatt onshore wind farm in south-eastern Poland.
Did you know that while only five lawyers worked on ten or more CEE client matters reported by CEE Legal Matters in 2022, a total of fourteen lawyers reached that level in 2023? The 2023 leaderboard was led by Milos Felgr of Clifford Chance in Prague, who worked on a remarkable 20 CEELM-reported client matters last year, with Alper Onar of Istanbul’s Aksan Law Firm, who worked on 19, close behind. Fellow Turk Kerem Turunc, the Managing Partner of Turunc, worked on 17 reported deals, while Djordje Nikolic of NKO Partners in Belgrade worked on 16, and Tomasz Rogalski of Norton Rose Fulbright in Warsaw worked on 15.
White & Case has advised Pelion on a EUR 25 million equity investment from the European Bank for Reconstruction and Development through a capital increase. Dentons advised the EBRD.
Norton Rose Fulbright has advised Bank Polska Kasa Opieki on providing financing for the construction of Vaskol's photovoltaics portfolio in Poland. Dentons advised Vaskol on the financing.
The summer of 2024 will mark the starting point of a revolution for VAT payers in Poland. Following global and EU trends, Poland will introduce mandatory structured invoicing for B2B transactions.
It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.
There is nothing new in fancying competitiveness. There is also little that one can meaningfully add to the dialogue. Yet, it is surprising how the subject of “Europe’s competitiveness” climbs up the ladder of timely discourses, and repeatedly does so; finds its way onto the list of “final novel plans”, “last grand projects”, or, for the matter of pure practicality, to agendas of the European Union’s presiding troika.
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki has advised Laton Ventures on its investment in Sequel Games.
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki has advised Revo Capital on its investment in Roamless.
Dentons and TGS Baltic have advised the European Investment Bank and Nordic Investment Bank on their EUR 64 million project financing for Ignitis Renewables to fund the Mazeikiai wind farm in Lithuania. Walless and Linklaters advised the Ignitis Group.
Turunc has advised Gelecek Etki Fonu on its investment in Brandefense in a round that included Sabanci Ventures, AK Portfoy, the Technology Development Foundation of Turkiye, TechOne, and Finberg. Kutadgu & Arsin advised Brandefense. Reportedly, BASEAK and the Diamond Law Group advised Sabanci Ventures, while BTS advised the Technology Development Foundation of Turkiye.
LegalKraft has advised Vastint on its acquisition of the Arkady Wroclawskie building in Wroclaw from Develia. Dentons advised Develia.
Balcioglu Selcuk Ardiyok Keki, working with the Paris office of Dentons, has advised 212 VC on its recent investment into Flow48.
Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you.
Dentons is one of the leading law firms in CEE and Central Asia with offices in Warsaw, Prague, Budapest, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.