In The Spotlight
The highlight of Drakopoulos’ work this year would be corporate and M&A, according to Managing Partner Panagiotis Drakopoulos, as a result of the overall Greek business climate and the country’s good position geopolitically, making it particularly attractive for foreign direct investments.
Sorainen has represented Nigerian state-owned company Asset Management Corporation of Nigeria in an oral hearing before the CJEU in a case against aviation company Lufthansa.
Keco Legal has advised Getmobil on its TRY 27 million seed funding round with a valuation of TRY 180 million. Urer Law advised the investors on the deal. Gungor Law reportedly advised Getmobil as well.
Gessel has advised BNP Paribas Bank Polska on its capital investment in Autenti. Kondracki Celej reportedly advised Autenti on the deal.
Sorainen, working with Norton Rose Fulbright, has advised Oxlylabs on its acquisition of the Webshare Software Company. Orrick Herrington & Sutcliffe reportedly advised the seller.
Radu Taracila Padurari Retevoescu has advised the European Bank for Reconstruction and Development on its EUR 25 million loan granted to Banca Transilvania.
PRK Partners Advises Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia in the sale of bonds issued by EPH Financing.
Kyriakides Georgopoulos has advised the Quest Group on its acquisition of G.E. Dimitriou through a court-ratified rehabilitation agreement contemplating a EUR 5 million participation of Athex-listed Quest Holdings in a share capital increase of the target company.
GEMS Legal Schindhelm has advised TUV Austria Holding's subsidiary TUV Austria Turk on its acquisition of a 51% stake in the Mavi Akademi Group.
CMS has advised the Saint-Gobain Group on the conclusion of a 15-year virtual power purchase agreement for the acquisition of renewable energy from Tion Renewables' onshore wind farms in Poland. Dentons advised Tion Renewables.
Penteris, HKV, and Oppenheim have advised Immofinanz on the acquisition of a retail property portfolio from the CPI Property Group for EUR 324.2 million. Reportedly, BPV Braun Partners advised Immofinanz as well.
Gorzelnik Nentwig Ziebinski has advised Equinor Group company Wento on its sale of a 28-megawatt solar photovoltaics portfolio to Modus Asset Management. Dentons has advised the buyer.
Radovanovic Stojanovic & Partners, working with Advant Beiten, has advised the shareholders of Hedwell Group Germany on the sale of the Hedwell Group to SAP Fioneer. Reportedly, Germany's Poellath advised SAP Fioneer on the deal.
Former Filip & Company Of Counsel Oana Voda has joined Dentons’ Bucharest office as Head of Public Procurement.
Former CMS Senior Counsel Csongor Tompa has joined Bird & Bird’s Budapest office as Head of the Banking & Finance and Capital Markets practices.
Former KPMG Lawyer Romana Szutanyi has joined Rowan Legal as Head of Employment.
Mari Manniko has joined PwC Legal in Estonia as Head of Data Protection and Media Disputes.
Former Sorainen Senior Associate Dalia Augaite has joined TGS Baltic as an Associate Partner in Lithuania, at the beginning of September.
Partner Akos Fehervary has been elected as the new Managing Partner of the Baker McKenzie Budapest office, as of July 1. Fehervary takes over the position from Partner Zoltan Hegymegi-Barakonyi, who led the operation for the past nine years.
Former Eversheds Sutherland Partner and Head of Banking and Finance Michal Markowski has joined Osborne Clarke in Poland as a Partner and Head of Banking and Finance.
Following the recent addition of Roxana Dudau in Romania (reported by CEE Legal Matters on September 6, 2022), Wolf Theis has announced it hired Tomasz Siembida in Poland as a Partner, and the further promotion of Austria-based Nikolaus Loudon and Venus Valentina Wong, Poland-based Konrad Kosicki, and Slovenia-based Teja Balazic Jerovsek to Partners.
Former Compliance Partners Partner Jaroslaw Nowacki has founded Tau Nowacki focused on "operational compliance and AML in fintech and crypto."
Former Associate Partners Andris Lazdins, Sarmis Spilbergs, and Martins Gailis have become Equity Partners at Ellex Latvia.
PwC Legal has promoted Stanislaw Zemojtel to Partner in Poland.
One of the questions that is often risen in practice is whether there is an obligation to conclude a contract with an individual who is registered as a legal representative, i.e., director of a company, and who does not establish an employment relationship in that company. In relation thereto, there are also inquiries whether it is mandatory to provide for a compensation for the work of a director who is not employed with the company, as well as what are the tax obligations of the company regarding the compensation that a director receives for performing the respective capacity.
Europe is awaiting the evolution of cybersecurity. On 3 May 2022, the Council and the European Parliament agreed on the so-called NIS 2 Directive (Directive on measures for a high common level of cybersecurity across the Union). NIS 2 repeals the currently effective NIS Directive.
Imagine receiving a letter that your real estate located in Bulgaria will, in fact, “change” its location within the neighborhood. This can come up as a shock to any international investor in Bulgaria. Such companies might wish to finance certain entrepreneurial construction activity in Bulgaria, and therefore, acquire one or more plots of land. This sort of legal conundrum is indeed possible in Bulgaria and this article will look into its intricacies.
The Government of the Republic of Serbia rendered the new Ordinance on Conditions, Manner and Procedure for Awarding the State-owned Agricultural Land for Use for Non-agricultural Purpose, that came into force on 10 September 2022.
The Ministry of Economy has officially announced the opening of the call for submission of applications under the state aid scheme regulated by Government Decision no. GD 959/2022 for financing assets and/or salary costs. The period for submitting financing requests is scheduled between 1 November 2022 to 16 December 2022, when investors may file the relevant documentation.
According to the latest Position published by the Serbian Commission for the Protection of Competition, it is prescribed whether and in which cases the scope of one concentration can be several undertakings that are not considered interrelated.
A major amendment to consumer law is on the horizon in the Czech Republic, and although it has so far undergone only a first reading in the Chamber of Deputies, it is not premature to look at its content. As for the most part it consists of the implementation of European directives, which leave almost no room for deviation, no major changes to the proposed draft are expected to be made during the legislative process. Another focus of this legislative amendment is digital content, particularly the rights and obligations connected to its supply.
Back in February 2020, the new Personal Protection Data Law was published in the official gazette, which meant that North Macedonia was catching up with the European Union on personal data protection.
Based on Directive 2019/1158 of the European Parliament and of the Council of 20 July 2019 on work-life balance for parents and carers and repealing Council Directive 2010/18/EU (“Work-Life Balance Directive”), as of 2 August 2022 all Member States shall apply rules to improve work-life balance for parents and carers. In particular, Member States must ensure for working fathers at least 10 working days of paternity leave around the time of birth of the child and the paternity leave should be compensated at least at the level of sick pay.
Following a long lasting process since 2010 the European Court of Human Rights (the “ECHR”) held that Slovakia violated right to property due to the refusal of its courts to enforce an International Chamber of Commerce (the “ICC”) arbitral award ruling that the National Property Fund of Slovakia (the “NPF”) was due to pay BTS Holding (“BTS”) approx. EUR 1.9 million plus interest. (the “Decision”)
Research of major global agencies show that the realization of profit is proportional to the degree of trust that customers have in retailers, regarding the processing of their personal data. Retailers that consider themselves socially responsible should know that investing in the protection of customers' personal data is an added value for the company - this type of investment strengthens the trust of customers, contributes to strengthening the competitive position on the market and increases profit. Most importantly, retailers have to understand that the personal data they collect from citizens is not their property, and that the right to privacy is one of elementary rights of citizens, which they are obliged to process in accordance with legal regulations.
Under the Turkish Commercial Code, a commercial enterprise is defined as an enterprise, operating continuously and independently, aiming to generate income which exceeds the income thresholds stipulated for tradesman (“esnaf” in Turkish) enterprises.
UBO register changes and an overall companies law overhaul to protect shareholder rights are on the agenda in Lithuania, according to Sorainen Partner Evaldas Dudonis.
Interview with Pascale Rahman, Vice President & General Counsel EMEA and India at Flex about her background and best practices.
On August 9, 2022, CEE Legal Matters reported that Vukovic & Partners had advised ODM Collections on obtaining a purchase of receivables work license from the Central Bank of Montenegro. CEE In-House Matters spoke with Drazen Stevanovic, CEO at ODM Collections, to learn more about the matter.