CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The new Czech Building Act (Act No. 283/2021 Coll., the Building Act, as amended (NBA)) became effective on 1 January 2024 and gradually replaces legislation set forth primarily in Act No. 183/2006 Coll., on zoning and building regulations (Building Act), as amended (OBA).
On June 24, 2024, the Act on the Protection of Whistleblowers (the "Whistleblowers Act") was published in the Journal of Laws, which means that most of its provisions will come into force on September 25, 2024.
Norton Rose Fulbright's Turkish affiliate law firm Pekin Bayar Mizrahi has advised Idata on its sale to BLS International Services. Dentons and its Turkish affiliate law firm Balcioglu Selcuk Ardiyok Keki reportedly advised BLS International Services.
Dentons has advised the Republic of Lithuania on its EUR 1 billion bond issuance. Reportedly, TGS Baltic advised the Republic of Lithuania as well while Freshfields Bruckhaus Deringer and Sorainen advised the underwriters.
Dentons and Greek-based MSTR Law have advised the Greencells Group on obtaining EUR 65 million in development financing for its solar plant portfolio across seven jurisdictions. Bernitsas and, reportedly, Hogan Lovells advised Kommunalkredit – the structuring bank and sole lender.
Dentons has advised CPI Property Group and its subsidiaries CPI FIM SA and Czech Property Investments on a partnership agreement to sell a 49% common equity stake in CPI Project Invest and Finance to funds managed by Sona Asset Management for EUR 250 million. A&O Shearman and, reportedly, Milbank advised Sona Asset Management. DLA Piper reportedly advised Aareal Bank on the deal.
Outgoing NATO Secretary General Jens Stoltenberg has secured the unanimous support of NATO country ambassadors for €40 billion (approximately US$43 billion) in lethal and non-lethal military aid to Ukraine in 2025. NATO leadership is expected to approve the agreement during the annual NATO Summit, which will take place July 9-11, 2024 in Washington, DC.
Greenberg Traurig has advised Ze Pak and Pak-Polska Czysta Energia on their joint acquisition of two SPVs developing a wind power project from Goalscreen Holdings Limited. Dentons advised the seller.
On June 26, 2024, Ukraine’s National Energy and Utilities Regulatory Commission (NEURC) adopted the Resolution "On Approval of Amendments to Certain Resolutions of the NEURC", which introduces special auctions for ancillary services. The Resolution aims to facilitate much-needed investment into energy generating capacity and energy storage units in Ukraine, and will ultimately contribute to better grid balancing in the country.
The United States and Ukraine have entered into a 10-year bilateral security agreement (“Security Agreement”), providing a framework for continued US support for Ukraine’s defense and deterrence capabilities, as well as for Ukraine’s economic recovery and reconstruction.
Hogan Lovells and Dentons have advised Patrizia on the sale of the AN69 building, also known as Metron or BTC Office Center, to Alides Polska and AYA Properties Fund. Sadkowski i Wspolnicy advised the buyers.
SSK&W has advised bValue and 500 Emerging Europe on their investment in Vidoc Security Lab. Dentons' Turkish affiliate BASEAK advised 500 Emerging Europe. Sole practitioner Aleksandra Szymczak reportedly advised Vidoc Security Lab.
Dentons has advised DRI on the acquisition of a 126-megawatt solar park project in Vacaresti Dambovita county, Romania from local developers. Glodeanu & Partners reportedly advised the sellers.
Inclusion, diversity, and equity (ID&E) are fundamental principles that shape the fabric of modern societies and industries. Within the legal profession, these principles not only reflect our commitment to justice and equality but also drive innovation, foster creativity, and enhance client service. In Central and Eastern Europe (CEE), where the gradual democratization and opening of societies since the 1990s has largely driven greater acceptance of diverse perspectives and communities, it is imperative for lawyers and law firms to take a leading role in advancing ID&E. In this article, we discuss how investing in inclusion, diversity, and equity can help your firm unleash the full potential of your workforce, foster creativity, and drive sustainable success.
Greenberg Traurig has advised AT Capital on the sale of a real estate property in Warsaw to the Dantex and Cavatina development group companies acting in a consortium. Dentons advised Cavatina. KG Legal Kieltyka Gladkwski and Gras and Partners reportedly advised Dantex.
Since July 1, 2023, Ukraine has been a member of the international automatic exchange of information regarding financial accounts pursuant to the Common Reporting Standard (CRS). The international exchange of information includes 123 countries (as of May 2024).
Dentons has advised a syndicate of banks that included Bank of China, Deutsche Bank, Erste Group, HSBC, Raiffeisen Bank International, and UniCredit as joint bookrunners in CEZ's EUR 750 million sustainability-linked bond issue.
Dentons has announced the appointment of a Global Task Force to help clients navigate Ukraine's transformation and rebuild.
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Dentons is one of the leading law firms in CEE and Central Asia with offices in Warsaw, Prague, Budapest, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.