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After a long year of waiting, law firms from Hungary finally had the opportunity to show off their bowling skills again last night, as the second year of the CEE Legal Matters Budapest Law Firm Bowling Challenge brought 14 four-person teams together for an intense challenge, with the proceeds donated to the winning team's charity of choice.

The traditional methods of tax audits and tax litigation in Hungary will soon be a matter of the past, as three new codes have recently been adopted by Parliament and will come into force on January 1, 2018. Naturally, they are a hot topic in the industry.  

The current government campaigned before the elections with the slogan “Plugging leaks in the tax system,” and it is now trying to achieve that goal by focusing its efforts on fighting harder against VAT fraud, counteracting aggressive tax optimization in income taxes, and increasing the effectiveness of tax audits.  

Unfair trading is often referred to as the cause of crisis in various sectors, holding down small and medium enterprises. In practice, unfair trading is sometimes improperly confused with predatory pricing or distortion of competition. Unfair trading may also trigger serious tax implications.

I vividly remember my first deal ever. It was a debut Eurobond from a Russian corporate after the financial crisis in 1998. I was interning in the “summer boot camp” of a major ILF in Moscow right after the fourth year of my law studies. A first grip at a due diligence exercise, trying to understand what it was like to be a lawyer in private practice – not least to see if I actually wanted to be one.

On August 17, a gathering of Dispute Resolution experts from many of the leading domestic and international law firms in Ukraine gathered in Baker McKenzie’s Kyiv offices for a Round Table conversation. 

For many in this world the legal profession is nothing but an appealing vocation. One has to work hard for several years to get a law degree/admission only then to obtain a lavish lifestyle and earn big bucks.  

In The Corner Office we invite Managing Partners at law firms across the region to share information about their unique roles. The question this time around: What is your favorite question when interviewing a job applicant, and why?

On Thursday, November 30th, leading legal practitioners from across Central and Eastern Europe gathered in Prague to help CEE Legal Matters celebrate its fourth successful year as the leading chronicle of the legal industry in the region, participating in an expert Round Table conversation about the year just concluded and enjoying an evening of dinner, drinks, and bonhomie. 

The most recent amendment to the Slovenian Civil Procedure Act (Zakon o pravdnem postopku, or “ZPP”) was issued in February 2017, with the amendments set to apply from September 14, 2017. 

The Deal: In February 2017, CEE Legal Matters reported that CMS had advised Integer.pl S.A. on the investment made into the company by private equity fund Advent International. Clifford Chance advised Advent International on the deal.

In The Corner Office, we invite Senior and Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. For this issue, we asked them to describe their least favorite part of their jobs. 

Employment relationships require special protection both at European and national levels. Although largely enshrined in European legislation, those protections remain subject to modifications to ensure efficiency and security of the employment process. 

A number of changes to the Labor Code expected to come into force on July 1, 2017, will not do so. These amendments to the Code – which were submitted to the President of the Parliament by the head of the Economic Committee – would primarily have affected work-time scheduling provisions, making the Labor Code more sensitive to the needs of the improving economy and changing labor market. According to Parliament, the amendments would have significantly improved production for businesses over a period of six to seven years. 

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.