17
Thu, Oct
44 New Articles

Latest News By Practice

Bryan Cave Leighton Paisner Russia has advised Mistral Wine on its acquisition of 200 hectares of vineyards and a winery in Russia’s Krasnodar Krai.

Aequo has advised the Cropio Group, an agriculture tech company, on the sale of its business to Syngenta. Egorov, Puginsky, Afanasiev & Partners and Reed Smith reportedly advised Syngenta on the deal.

Alrud has advised Russia's state-owned VTB bank on the acquisition of more than 70% of shares in grain trading company Mirogroup Resources.

Ellex Raidla has advised the Estonian Lottery on its agreement with the Quality Group Lottery Solutions GmbH for system upgrades.

On 10 September 2019 the newest edition of Incoterms rules, Incoterms 2020 was released by the International Chamber of Commerce (ICC). The Incoterms rules serve as significant commercial provisions for the international sale of goods, including commonly accepted definitions and rules relating to the delivery of goods between trading partners. Since the first publication of Incoterms rules in 1936, ICC has revised regularly these rules to follow the changes in the worldwide trade system.

Bojanovic & Partners has helped GTT Communications obtain a license to perform electronic communications activities in the area of public communications networks and Internet services from the regulatory telecommunications agency of Serbia.

Filip & Company has advised Digi Romania, DIGI Communications N.V., and DIGI Hungary on two medium-term loan facilities for an equivalent aggregate value of EUR 150 million from Citibank Europe plc, Romanian Branch, ING Bank N.V. Amsterdam and Bucharest Branches, and Unicredit Bank S.A. Linklaters reportedly advised the lenders on the deal.

Soltysinski Kawecki & Szlezak has advised Portuguese Private Investment Ltd. in a Series B investment in Warsaw-based Tylko.

Former Weinhold Legal Managing Attorney Ondrej Havlicek has joined Schoenherr Prague as Head of Banking, Finance, and Capital Markets.

Wolf Theiss has advised Raiffeisen Bank International AG on the issue and listing of a EUR 750 million Green Bond. White & Case advised a syndicate consisting of Barclays Bank Ireland PLC, Credit Agricole Corporate and Investment Bank, Raiffeisen Bank International AG, Societe Generale, and UniCredit Bank AG on the issuance.

The Management Board of the Warsaw Stock Exchange has adopted a resolution to introduce Klabater S.A.'s shares to the alternative trading system of the WSE's NewConnect market.

SSW Pragmatic Solutions acted as legal advisor to WDB Brokerzy Ubezpieczeniowi on its delisting from NewConnect. Prior to delisting, the company’s key shareholders performed a squeeze-out of minority shareholders.

The Romanian Competition Council (the "RCC") recently imposed a total penalty of EUR 1.1m on four companies for indulging in anticompetitive practices. The companies breached the competition rules by colluding to rig bids for winter road maintenance services organised by the National Company for the Management of Road Infrastructure.

Monika Nacsa, the former Head of Litigation at Hungary's Competition Authority, has joined Kinstellar as an Associate in the firm’s Competition and Dispute Resolution practices in Budapest.

Lawyers in Herbert Smith Freehills's Moscow office have worked on the firm's cross-border team advising BidFair USA regarding the merger control aspects of its USD 3.7 billion acquisition of international auction house Sotheby's.

Former Head of Legal and Compliance at Metro Cash & Carry Hungary Peter Sukosd has joined the Hungarian office of DLA Piper as Head of Competition Law.

It has been over a year since the European Union’s General Data Protection Regulation became mandatory across Europe, marking a seismic shift in the way that companies collect, process, and handle personal data. Countries across the European Union and beyond have adapted their national laws to meet the requirements of the GDPR – with many introducing local derogations as permitted by the GDPR.

Zivkovic Samardzic has helped Halkbank a.d. Beograd, a subsidiary of Turkish Halkbank, harmonize its operations with the new Law on Personal Data Protection, including reviewing relevant internal documents and policies and drafting new ones, where necessary.

Binder Groesswang has advised the Gilde Buy Out Partners private equity fund and 17 other sellers on the sale of the Austria-based Powerlines Group GmbH to French energy group ENGIE Ineo, following a bidding process. Allen & Overy and Eisenberger & Herzog reportedly advised ENGIE Ineo on the deal.

I. Introduction

Special Purpose Acquisition Companies (“SPAC”), which are incorporated to achieve the purpose of investing and merging with a non-public company, were first introduced in the United States in 1990s and recently increased its popularity globally. Unlike other countries, SPACs entered into Turkish legal system relatively late with the Communiqué on Common Principles Regarding Significant Transactions and Appraisal Right (Communiqué No. II-23.1) of the Capital Markets Board (“CMB”), published in the Official Gazette dated 24.12.2013 numbered 28861(“Appraisal Right Communiqué”). Currently, there is no SPAC listed under Borsa Istanbul (“BIST”) in Turkey. SPACs are very similar to venture capital structure and can be considered as a strong alternative for investors and shareholders in Turkey as well.

Cerha Hempel has advised Aberdeen Standard Investments Deutschland AG on its acquisition of residential development project Franz Joseph from Innsbrucker Projektgemeinschaft Moser Wohnbau & Immobilien GmbH and Bauwerk Wohnraum GmbH. Grama Schwaighofer Vondrak Rechtsanwalte advised the sellers on the deal.

Binder Groesswang has advised the Gilde Buy Out Partners private equity fund and 17 other sellers on the sale of the Austria-based Powerlines Group GmbH to French energy group ENGIE Ineo, following a bidding process. Allen & Overy and Eisenberger & Herzog reportedly advised ENGIE Ineo on the deal.

CMS has assisted Corinth Pipeworks S.A., a Greek producer of gas pipeline equipment, on its successful preparation, bid, and signing of a multi-million pipe delivery agreement with ICGB - the project company developing the Natural Gas Interconnector Greece-Bulgaria.

Solivan, the Polish member firm of the "Pontes the CEE lawyers" network, has advised ReneSola, a NYSE-listed solar project developer, on its sale of 55 MW Polish solar farms with an aggregate capacity of 54.6 megawatts to Aberdeen Standard Investment. Weil, Gotshal & Manges advised Aberdeen Standard Investment on the acquisition.

The Maric & Co Law Firm has represented former employees of Aluminij d.d. Mostar in an ethnic discrimination case against the company and the Government of the Federation of Bosnia & Herzegovina.

Clifford Chance, acting pro bono on behalf of LGBTQ Groups in Poland, has persuaded a Polish court to order the conservative Gazeta Polska newspaper to halt the distribution of "LGBT-free zone" stickers.

Avellum has successfully represented a UK citizen in Ukraine's Supreme Court in a dispute regarding the return of a wrongfully retained child.

CMS has assisted Corinth Pipeworks S.A., a Greek producer of gas pipeline equipment, on its successful preparation, bid, and signing of a multi-million pipe delivery agreement with ICGB - the project company developing the Natural Gas Interconnector Greece-Bulgaria.

Ellex Raidla has advised 3i Infrastructure plc on its EUR 220 million acquisition of Ionisos from Ardian Expansion.

Walless has represented the Kaunas City Municipality in the European Court of Justice in a case involving the compatibility of additional requirements for in-house contracts stipulated in Lithuanian national law with EU law.

Sorainen, representing Klaipedos Administratoriai, has persuaded the Lithuanian Court of Appeal to rule that a minor creditor cannot initiate the removal of a bankruptcy administrator.

Kochanski & Partners has advised Ringier Axel Springer Polska, the publisher of Newsweek, Forbes, Onet, Business Insider, Politico, Fakt24, Przegląd Sportowy, Auto Swiat and other publications, throughout RUCH S.A.’s restructuring, including in proceedings before the Restructuring Court and at meetings of the Creditors’ Committee.

Former Dynasty Law Head of Office Denys Kytsenko has joined Eterna Law in Kyiv as Partner and Head of Bankruptcy and Restructuring.

Former JTG Law Partner Nikola Gvoic has joined Bojanovic & Partners as Partner and Head of Labor and Employment.

Nestor Nestor Diculescu Kingston Petersen has assisted Grab with Romanian law aspects of its strategic partnership with Telenav, Inc., a provider of connected-car and location-based services.

The Maric & Co Law Firm has represented former employees of Aluminij d.d. Mostar in an ethnic discrimination case against the company and the Government of the Federation of Bosnia & Herzegovina.

Ellex Valiunas has helped US medical equipment manufacturer Hollister Incorporated open a factory in the Kaunas Free Economic Zone in Lithuania.

Former Head of Legal at Novartis Oncology Barbora Dubanska has joined Taylor Wessing as Partner and CEE Co-Head of Life Sciences.

JPM is assisting Serbia's Institute for Molecular Genetics and Genetics Engineering with its implementation of the Balkan Genome Project.

Integrites has successfully defended the interests of corrugated packaging manufacturer Dunapack in Ukraine's Fifth Administrative Court of Appeal in Odessa.

Egorov Puginsky Afanasiev & Partners has helped the Aqua Investments Group and Kavminkurortresursy JSC establish their exclusive geographical indication rights to the  Yessentuki N4 and Yessentuki N17 healing diets and mineralized healing water brands.

Olena Sukmanova has joined Sayenko Kharenko as Partner and Head of Litigation.

Wolf Theiss has advised Raiffeisen Bank International AG on the issue and listing of a EUR 750 million Green Bond. White & Case advised a syndicate consisting of Barclays Bank Ireland PLC, Credit Agricole Corporate and Investment Bank, Raiffeisen Bank International AG, Societe Generale, and UniCredit Bank AG on the issuance.

Primus Derling in Lithuania has advised JNG Investments Estonia on the acquisition by its VIA 3L subsidiary — a third-party logistics service provider in Estonia and Latvia — of fellow third party logistics company Terminal LT from GIRTEKA. The sellers were advised by the Marger Law Firm.

Pavel, Margarit & Associates has advised perpetoo.com, the first peer to peer car-sharing platform in Romania, on its commencement of business activities.

Zepos & Yannopoulos has advised both the buyer and the seller on Greek aspects of the acquisition by MacGregor, a subsidiary of Cargotec Oyj, of the marine and offshore businesses of TTS Group ASA for approximately EUR 87 million. Norway's Wikborg Rein law firm advised TTS Group ASA and Norway's Bahr law firm advised Cargotec’s MacGregor.

Clifford Chance has advised GTLK Global Business, Russia's largest leasing company, in connection with the ten-year lease of two coastal passenger vessels to Havila Kystruten AS, a Norwegian cruise operator.

Kambourov & Partners has assisted international cargo operator Fleet Air International Kft. on the incorporation of its Bulgarian subsidiary and the relocation of Fleet's air fleet to Bulgaria.

Binder Groesswang has advised the Gilde Buy Out Partners private equity fund and 17 other sellers on the sale of the Austria-based Powerlines Group GmbH to French energy group ENGIE Ineo, following a bidding process. Allen & Overy and Eisenberger & Herzog reportedly advised ENGIE Ineo on the deal.

Ellex Valiunas and CMS have advised German private equity firm Halder on its acquisition of Drumag Fluidtechnik and EPH Elektronik from Ulrich Ziegler.

Brandl & Talos has advised an investor consortium of Farallon Capital, Adjuvant Capital, Global Health Investment Fund, Hadean Ventures, Omnes Capital, Ventech, Wellington Partners Life Sciences, and High-Tech Grunderfonds.on Themis Bioscience's EUR 40 million Series D financing round. Herbst Kinsky advised Themis Bioscience, and Baker McKenzie advised another investor, MSD, on the deal.

Clifford Chance, acting pro bono on behalf of LGBTQ Groups in Poland, has persuaded a Polish court to order the conservative Gazeta Polska newspaper to halt the distribution of "LGBT-free zone" stickers.

RASK attorney-at-law Siret Saks has provided pro bono advice to the Estonian National Culture Foundation, helping it resolve issues concerning the will and testamentary estate of Tiiu Alliste, important to the launch of the new Harmatali scholarship fund dedicated to the support of Estonian children’s literature.

Dentons Prague is providing pro bono assistance to the Eduzmena Endowment Fund regarding its establishment and rules of operation.

Ellex Valiunas has advised US financial services firm Moody's on a lease agreement with the SBA Group for office space in the Green Hall 3, a class A building developed by Urban Inventors in Vilnius. The agreement is for approximately 1,600 square meters. Sorainen reportedly advised SBA on the deal.

Wolf Theiss has advised Raiffeisen Bank International AG on the issue and listing of a EUR 750 million Green Bond. White & Case advised a syndicate consisting of Barclays Bank Ireland PLC, Credit Agricole Corporate and Investment Bank, Raiffeisen Bank International AG, Societe Generale, and UniCredit Bank AG on the issuance.

Linklaters is advising Hines European Value Fund, acting through its subsidiary Gisla, on the acquisition of the Wola Center office building in Warsaw from Develia.

Integrites has successfully defended the interests of corrugated packaging manufacturer Dunapack in Ukraine's Fifth Administrative Court of Appeal in Odessa.

Kamila Seberova, Radka Nenickova, and Tereza Naucova have joined Wolf Theiss in Prague as Counsels, Dita Sulcova has joined as a Tax Consultant, and Filip Michalec has joined as a Senior Associate.

From 1 January 2020 a new European Union Directive (nicknamed „Quick Fixes”) will enter into force. Among several changes, rules that regulate the customer VAT numbers has been reformed. Under the new reform, obtaining a valid VAT number that the customer provides to the supplier will be regarded as a material requirement for applying the 0% VAT rate. If the supplier fails to include the customer’s VAT number on the invoice, it should not be possible to apply the 0% VAT rate. In addition, filing of a cumulative declaration is also required to invoke the 0% VAT rate. The Directive puts higher administrative burden on undertakings, since it expects a constant inspection mechanism for the validity of the customer’s VAT number at the time of sale.

Ellex Raidla has advised the Estonian Lottery on its agreement with the Quality Group Lottery Solutions GmbH for system upgrades.

Egorov Puginsky Afanasiev & Partners has helped the Aqua Investments Group and Kavminkurortresursy JSC establish their exclusive geographical indication rights to the  Yessentuki N4 and Yessentuki N17 healing diets and mineralized healing water brands.

Maria Koval, former Senior Associate at Ilyashev & Partners, has joined Redcliffe Partners as Counsel and Head of IP.

Sorainen has successfully represented Krassik OU and other fuel trading sector companies from the Daxin Group in legal proceedings before the Supreme Court of Estonia related to a purported abuse of position by Krassik’s previous management board.

Former Soltysinski Kawecki & Szlezak Senior Counsel Pawel Sawicki has joined NGL Legal as a partner, assuming responsibility for the development of the Commercial Criminal Law and Investigations and Cyber Security and Cybercrime practices.

Ukrainian lawyer Yevgeniy Solodko has merged his white collar criminal defense boutique with Sayenko Kharenko.