In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas. 

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?

In recent years, online platforms have become crucial for individuals and small businesses, providing them with enhanced capabilities to interact, purchase and organize due to the data sharing among all market participants. However, many of these platforms have become quasi-monopolies and engage in anticompetitive conduct against their small-business counterparts, leading to calls for regulation from both theoreticians and EU institutions. The P2B Regulation aims to protect business users of online intermediation services by promoting fairness and transparency.

Molson Coors Beverage Company's former CEE Region Legal and Corporate Affairs Director Anton Karlov has been appointed Chief Legal and Corporate Affairs Officer, EMEA APAC Division within the company.

The latest amendments to the Bulgarian Spatial Development Act introducing the simplified procedure for constructing photovoltaic systems on rooftops entered into force on 20 January 2023, easing the regime for the installation of small power plants.

On January 25, 2023, was promulgated an Act to Amend and Supplement the Labor Migration and Labor Mobility Act (“AAS the LMLMA”), adopted by the 48th National Assembly on January 19, 2023. The changes concern the conditions for entry and residence of citizens of countries outside the European Union (“EU”) on the territory of the Republic of Bulgaria for the purposes of highly qualified employment, as well as the procedure for issuing a long-term residence and work permit of the “European Union Blue Card” type, which is regulated by the Foreigners in the Republic of Bulgaria Act (“FRBA”) and the regulations for its application.

Wolf Theiss has advised the IFC on its acquisition of a minority stake in Vienna Insurance Group-owned pension assurance company Doverie.

Tokushev & Partners and Musseva & Ivanov have helped MFG Ins obtain an insurance license from the Financial Supervision Commission of Bulgaria.

In the recent years the number of cases where companies tries to protect their trade secret from unlawful use by ex-employees as their competitors in Bulgaria has increased.

Djingov Gouginski Kyutchukov & Velichkov, working with Linklaters, has advised the joint lead managers on the Republic of Bulgaria's EUR 1.5 billion issuance of sovereign bonds under its global medium-term note program. Tsvetkova Bebov & Partners, working with Clifford Chance, advised the Bulgarian state.

Wolf Theiss, working with Shearman & Sterling, has advised BNP Paribas Personal Finance on its sale of BNP Paribas Personal Finance Bulgaria to Eurobank Bulgaria. Deloitte Legal and Boyanov & Co advised the buyer.

With criminal charges brought against Bulgarian crypto platform Nexo, while everyone is waiting for the MiCA regulation, the country's latest developments will potentially have far-reaching implications worldwide, according to Mikov＆Attorneys Managing Partner Konstantin Mikov.

New amendments to the packaging waste legislation were promulgated in the 100th issue of the Bulgarian State Gazette dated 16 December 2022. The amendments are in the Ordinance on Packaging and Packaging Waste (the "Ordinance") and are officially in force as of 20 December 2022.

Gugushev & Partners lawyer Ivan Tsvetkov has been appointed a Partner and the firm's new Head of the Real Estate and Construction department.

On 27 January 2023, after more than a year of delay, the Bulgarian parliament adopted Act on the protection of persons who report breaches ("Whistleblowing Act"). The Whistleblowing Act finally transposes the Whistleblowing Directive (Directive (EU) 2019/1937) beyond the deadline of 17 December 2021 for all member states. The Whistleblowing Act enters into force within 3 months as from its publication in the State Gazette, which was made on 2 February 2023.

In this article, we will review some long-awaited changes in Bulgarian legislation, as well as one particularly interesting precedent from the Supreme Court of Cassation case law. These were the highlights of autumn 2022 and we expect them to influence the development of national legislation in the field of healthcare/life sciences and consumer protection.

Considering the current state of affairs in CEE, market dynamics have shifted in terms of where investors are looking for safe investment opportunities, with some sectors seeing steadier capital flows and others struggling. Our experts chart the current hotspots and consider whether the markets are set to shift again.

CMS has advised a syndicate of banks led by ING Bank on the postponement of loan payments under the USD 450 million pre-export facility for Ukraine’s Kernel Group. Linklaters reportedly advised the Kernel Group. Allen & Overy reportedly advised Natixis, another lender.