In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As partner departures are inherent to the workings of any law firm, and likely demand clear strategies for navigating, this time around we asked: What are the three most important items on your checklist when a Partner leaves your firm?

Albania, driven by its commitment to align with European Union standards, has embarked on a comprehensive journey to harmonize its financial legislation with EU directives, particularly in the realm of capital markets. At the forefront of this effort stands Law 56/2020 “On Collective Investment Undertakings” (Albanian CIU Law), a pivotal piece of legislation that encompasses the passporting of foreign investment funds into Albania. This landmark law, coupled with the recent enactment of Regulation no. 37 (Passporting Regulation) and Regulation no. 38 (Distribution Regulation) by the Financial Supervisory Authority (FSA), lays down the groundwork for the processes of passporting and distribution within the Albanian financial landscape.

Albania is going all in on harmonizing with European Union standards – especially in the realm of intellectual property, according to Boga & Associates Partner Renata Leka. Despite plenty of ground left to cover, the Boga Partner is optimistic the country will see "significant progress in the coming years."

Freshfields Bruckhaus Deringer has advised Assa Abloy on the acquisition of Skidata from the Kudelski Group. Baker McKenzie, working with Hogan Lovells, Holding Redlich, and Lenz & Staehelin, advised the Kudelski Group.

EY Law has promoted Katrin Speigner to Partner in its Salzburg office.

Taylor Wessing has advised VakifBank International on the implementation of a core banking system.

Belarus's Revera law firm has teamed up with Adamante Management to open the firm's Cyprus office.

On July 9, 2021, substantial amendments to Belarusian currency legislation entered into force. We will briefly review the key amendments.

Economic optimism in the face of adversity, the introduction of English law instruments, and some new potential for growth are the highlights in Belarus, according to Aleinikov & Partners Senior Partner Denis Aleinikov.

EOS Matrix Bosnia and Herzegovina Executive Director for Legal Affairs Mirza Kahvedzic discusses his career path leading up to his current role, how his legal team operates, and current challenges faced due to slow court proceedings.

An in-depth look at Branko Maric of Maric & Co covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

Creditors can collect their claims not only through court, but also through judicial or out-of-court settlement.

Reporting on the most interesting recent developments in Bulgaria Gugushev & Partners Law Office Senior Partner Dafinka Stoycheva shares her views on continuing political instability in the country, a major investment dispute, and significant legal and regulatory developments.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As partner departures are inherent to the workings of any law firm, and likely demand clear strategies for navigating, this time around we asked: What are the three most important items on your checklist when a Partner leaves your firm?

Derivatives, repurchases, and securities lending transactions are often used by sophisticated financial institutions and large corporate entities in Bulgaria to manage their portfolios of investments, hedge against financial risks, or get short-term credit. Such products are predominantly offered on an OTC basis by foreign banks, with mainly the largest local banks having the know-how and resources to do the same.

Almost two years ago, I discussed in an article published in CEE Legal Matters the presence of “green” bonds and financings in Croatia. The thesis put forward in that article was focused on the necessity of companies and financial service providers to be more “green” in terms of the products they offer on the Croatian (capital) markets and goals on sustainability which should be accomplished.

Schoenherr has advised Siemens Energy on a joint venture agreement with Koncar for the production of transformer tanks. Mamic Peric Reberski Rimac advised Koncar.

CMS, working with White & Case's London office, has advised Marlink on its acquisition of Diverto. Mamic Peric Reberski Rimac advised Diverto.

Kocian Solc Balastik and Hillbridges have advised J&T Banka on Discovery Group’s Centro Nitra refinancing. DLA Piper reportedly advised Discovery Group.

Kocian Solc Balastik has advised Seyfor on the acquisition of Datacruit from GoodGroup. Briza & Trubac advised GoodGroup.

You may have noticed that there has been a discussion about an amendment to the Act on Protection of Competition in recent weeks. If it passes the legislative procedure, what would it mean in practice?

Papapolitis & Papapolitis, working with Reed Smith, has advised ECM Partners and Metric Capital Partners on the sale of Famar to MidEuropa. DLA Piper reportedly advised MidΕuropa.

Zepos & Yannopoulos has appointed Partner Paris Tzoumas as its new Head of Finance.

Bernitsas has advised Thrivest Holding on its agreement with the Hellenic Financial Stability Fund to create the "fifth banking pillar in Greece." Argyropoulos, Gissaki & Associates reportedly advised Thrivest Holding as well.

Taylor Wessing has advised Recorde Asset Management and Forestay Group on the acquisition of a building in Budapest’s Gellert Hill area set to become the Moricz Student Living student residence and office building. Taylor Wessing, working with Kalman & Partners, also advised Recorde and Forstay on the acquisition financing obtained from Hypo Bank Noe.

From 29 July 2024, the administrative service fees relating to procedures for land registry, plot formation, land surveying and mapping, and the provision of data from the land register and the state databases will be increased significantly.

Taylor Wessing has advised VakifBank International on the implementation of a core banking system.

Cobalt has advised BaltCap on its investment in Fitekin and Onea software platforms of the Unifiedpost Group.

Cobalt has advised Karma Ventures on leading the USD 20 million Series B funding round for Pactum AI with other investors including 3VC, Atomico, Project A, Superangel, PortfoLion, and Maersk.

Linklaters has advised Goldman Sachs Bank Europe as the global coordinator and JLM and LHV Bank as joint lead managers on the offering of a EUR 400 million perpetual green hybrid bond by Eesti Energia.

On January 25, 2024, the Office of the Prime Minister of the Republic of Kosovo published a list of concept notes anticipated for drafting and adoption by the Kosovo Government in the present year. The concept note, a regulatory prerequisite to the enactment of legislation within a specified domain, specifies the objectives of prospective governmental policy and the optimal modalities for their implementation.

Legal changes abound in Kosovo with contested advocacy laws and ongoing judicial reform, says Hodaj & Partners Managing Partner Taulant Hodaj, who highlights that despite challenges, favorable tax laws and investor-friendly policies persist in attracting businesses.

Taking a deep dive into the most interesting recent developments in Kosovo, Vokshi & Lata Partner Florin Lata discusses a projected 4% GDP growth for the year, significant legal reforms across several sectors, as well as key business and economic drivers for the small Balkan market.

Ellex has advised Cabinair Services on the acquisition of AeroKnow.

Cobalt has advised BaltCap on its investment in Fitekin and Onea software platforms of the Unifiedpost Group.

Ellex has advised Tech Mahindra on opening a business process outsourcing center in Riga.

Cobalt has advised BaltCap on its investment in Fitekin and Onea software platforms of the Unifiedpost Group.

TGS Baltic has advised Civinity on a private placement of an issue of bonds with a nominal value of EUR 5.7 million.

The Baltic region, comprising Lithuania, Latvia, and Estonia, boasts an emerging public capital market facilitated by the unified securities trading platform – the Nasdaq Baltic Stock Exchange.

In the wake of a recently concluded election cycle in North Macedonia, businesses and investors are closely monitoring the new government's policy directions, according to Papazoski and Mishev Law Firm's Attorney at Law Ivan Mishev.

The recent elections in North Macedonia marked a shift in government, as reported by Lalicic & Boskoski Partner Angela Andonova, with the transition including the establishment of new ministries and a restructuring of current ones, setting the stage for upcoming legislative actions.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. For this piece, we asked firm Labor experts:  Have whistleblowing regulations been implemented in your jurisdiction and would you advise companies to use an external solution or an in-house one? Why?

ACI Partners Managing Partner Igor Odobescu, Nagy es Trocsanyi Founding Partner Peter Nagy, Kinstellar Partner Radovan Grbovic, Law Office Vujacic Partner Sasa Vujacic, and Tuca Zbarcea & Asociatii Partner Robert Rosu discuss recent litigation trends across CEE, driven by the impact of economic shifts and regulatory changes in their jurisdictions.

On February 29, 2024, energy experts from Bulgaria, Croatia, Moldova, Turkiye, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the key developments in the field of oil & gas over the past few years.

On December 29, 2023, Law no.429/2023 on amendments of the Law on natural gas no.108/2018 entered into force. The amendment contains some provisions regarding the creation and maintenance of natural gas stocks. Thus, the government will undertake the necessary measures to ensure the use, until November 1 of each year, of the natural gas storage capacity in the storage facilities of other countries that are part of the Energy Community and of the member states of the European Union.

ACI Partners Managing Partner Igor Odobescu, Nagy es Trocsanyi Founding Partner Peter Nagy, Kinstellar Partner Radovan Grbovic, Law Office Vujacic Partner Sasa Vujacic, and Tuca Zbarcea & Asociatii Partner Robert Rosu discuss recent litigation trends across CEE, driven by the impact of economic shifts and regulatory changes in their jurisdictions.

Montenegro is making significant strides towards European Union membership by satisfying interim benchmarks in negotiation chapters 23 and 24, essentially aimed at strengthening the rule of law, according to BDK Partner Luka Popovic who shares a number of updates on important legislative changes in the country.

JPM Partners has successfully represented photographer Stevo Vasiljevic before the Court of Appeals of Montenegro in a case against NGO Radio Skala concerning a violation of copyright rights.

DLA Piper has advised TSG on the acquisition of Biuro Inzynierskie Convert.

Former Kochanski & Partners Partners Marek Jezewski has joined Eversheds Sutherland's Polish office to launch a new Arbitration & Complex Commercial Disputes Practice.

Wardynski & Partners has advised Prime PV on the sale of a 10-megawatt solar farm in West Pomerania to Orlen.

On 26 June 2024, the Romanian Competition Council (the "RCC") announced that it had conducted a dawn raid as part of an investigation concerning the possible abuse of a superior bargaining position by a company active in the supply of liquid medicinal oxygen against a public hospital. The investigation has been launched ex officio as a result of information received from public sources. The case is noteworthy as it marks the first time the RCC has launched a review regarding an alleged abuse of superior bargaining position, a relatively new type of infringement under Romanian competition rules.

Biris Goran and Kinstellar have advised Global Vision and Globalworth, respectively, on the sale of a logistics portfolio to WDP. PeliPartners advised WDP.

Clifford Chance has advised Nala Renewables Limited on its acquisition of a ready-to-build photovoltaic park from Monsson Group in Caras Severin.

The truth is rarely pure and never simple. But in the case of Russia's military operation in Ukraine, it just might be. Russia breached Article 2(4) of the UN Charter, which prohibits the use of force against the territorial integrity or political independence of any state. Russia's acts have prompted the EU, the UK and the US to impose economic sanctions, such as freezing assets and disconnecting Russian banks from the SWIFT international payments network. Whilst the number of private businesses that are halting their activities in Russia is steadily growing, Russia has adopted a law paving the way for expropriations of assets of foreign firms that leave the country following economic sanctions. But what can foreign companies do if Russia proceeds to take their assets, if they are unable to freely transfer returns from investments out of Russia or if their profits collapse?

Baker McKenzie and DLA Piper have joined the plethora of firms announcing their exit from the Russian market.

Debevoise & Plimpton, Dentons, Dechert, and CMS have announced they are closing their Russian offices and exiting the market.

ZSP Advokati has promoted Jasna Milosavljevic, Jelisaveta Stanisic, and Nikola Sugaris to Partners.

Moravcevic, Vojnovic and Partners in cooperation with Schoenherr has advised Fortis Renewable Energy on the acquisition of a 180-megawatt solar power plant in Sremska Mitrovica, Serbia.

MMD Advokati has advised APS Quattro Holding on the sale of Vantage Leasing to Alta Banka. Stanivuk & Manasijevski advised Alta Banka.

Kocian Solc Balastik and Hillbridges have advised J&T Banka on Discovery Group’s Centro Nitra refinancing. DLA Piper reportedly advised Discovery Group.

Former CMS Associate Martin Balaz has joined Fairsquare in Bratislava as Partner.

Siemens General Counsel for the Czech Republic and Slovakia Richard Bacek talks about his transition from law firms to in-house and ongoing challenges including navigating new legislation, such as cybersecurity regulations.

In recent years, we have been seeing that real estate developers are starting to turn to debt capital markets to raise capital for their real estate development projects in Slovenia. When issuing bonds for real estate development projects, investors usually expect to have security on the real estate property that is being developed. Similar to other finance transactions, collateral can take various forms. This article examines the possibilities of establishing collateral on real estate property for bonds in Slovenia.

Schoenherr, working with Rutgers & Posch, has advised the shareholders of Resalta on the disposal of a controlling stake in Resalta BV Netherlands, including its Slovenian, Croatian, Serbian, Romanian, and Czech Republic subsidiaries, to Aggreko. A&O Shearman reportedly advised Aggreko.

The Slovenian justice system has been abuzz in recent months with talks of digitalization, according to Senica & Partners Partner Maja Subic, who also reports on the ongoing administrative strike in the country. Despite the latter and other grounds for initial concern, the year is shaping up well for the Slovenian market.

White & Case Turkish affiliate law firm GKC Partners has advised Ronesans Holding on its acquisition of Rabobank from Rabobank International Holding. A&O Shearman's Turkish affiliate Gedik & Eraksoy advised Rabobank.

Taylor Wessing has advised VakifBank International on the implementation of a core banking system.

Paksoy, working with Gibson Dunn, has advised H.I.G. Capital on its acquisition of Valeo’s thermal commercial vehicles division.

Chaired by Prime Minister Denys Shmyhal, Ukraine’s Strategic Investment Council plays a pivotal role in shaping the nation’s economic landscape. The Council’s primary objective is to attract and facilitate strategic investments that drive sustainable economic growth and development.

Avellum, working with Kirkland & Ellis, has advised Aspia on its acquisition of Accountor Outsourcing.

Avellum has advised Knorr-Bremse on obtaining merger clearance from the Antimonopoly Committee of Ukraine for its acquisition of Alstom Signaling via its subsidiary Knorr Brake Holding Corporation.