The Anti-Money Laundering and Countering Financing of Terrorism legislative package of the European Union (“EU”), proposed on 20 July 2021 by the European Commission, and approved by the European Parliament plenary this April was published in the Official Journal of the EU on 19 June. The new legislative package introduces significant regulatory changes in connection with the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, both on European and national level.

With effect from 1 July 2024, the amendment to the Employment Act introduces several changes, particularly in the area of employment of foreigners. Below is a summary of the most important changes.

Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners has advised on TBI Bank's EUR 20 million issuance of MREL notes.

On June 12, 2024, the Bulgarian Council of Ministers released a draft bill for public discussion, aiming to revise the Bulgarian Consumer Protection Act (“CPA”) to align with the requirements of the General Product Safety Regulation 2023/988 (“GPSR”) and the Class Action Directive 2020/1828 (the “Class Action Directive”).

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. While in the legal field maintaining client relationships is vital, there are occasions when law firms must end engagements. To explore some of the reasons that might lead to this, we asked: After accepting mandates, what have been the main reasons for which you ended up having to drop clients?

As always in Slovakia, political changes are accompanied by personnel changes. Thus, having a new government and new deputies to the parliament has initiated the change of the key personnel, including the head of the Regulatory Office for Network Industries (URSO) and of the Slovak electricity transmission system, Plc. (SEPS).

We bring you a brief overview of important legislative news from the Slovak Republic that should not escape your attention.

Borivoj Libal has become the sole Managing Partner of Eversheds Sutherland's Czech Republic office. Libal has been a Co-Managing Partner at the firm, alongside Bernhard Hager, since 2022.

The new construction legislation approved in 2022, which aims, among other things, to speed up permitting processes, was to enter into force as a whole on 1 April 2024. This legislation divided the "old" Construction Act into two parts: spatial planning and construction.

We bring you a brief overview of important legislative news from the Czech Republic that should not escape your attention.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Given the dynamic and ever-evolving nature of the legal profession, we asked: What is the one critical skill that you’re investing time and energy in to develop within your team, and why?

Permitting of any projects is a long-standing problem in the Slovak Republic. In international surveys, Slovakia ranks at the bottom, as it takes an average of 300 days to permit a simple building such as a family house. This problem becomes much more acute in the case of constructions that are more complicated and require the assessment of several administrative bodies or may have a significant impact on the environment.

The amendment to the Code of Administrative Justice, slated to take effect on 1 January 2025, will bring many changes.

We bring you a brief overview of important legislative news from the Czech Republic that should not escape your attention.

In 2024, the conditions for obtaining an employment agency permit will be further tightened.

Eversheds Sutherland has represented Brink's Cash Solutions before the Court of Justice of the European Union in a request for a preliminary decision addressed to the court by Bucharest's Court of Appeal in a collective dismissal procedure case.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As we bid farewell to 2023, this time around we turn our attention forward: What is your one main wish for 2024 and what do you see as the biggest potential risk?

Eversheds Sutherland has advised Bank Pekao on its financing for 7R's warehouse development in Katy Wroclawskie.