CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, nine law firms in Central and Eastern Europe got off to an exceptionally strong start in 2023, with five client matters or more reported on by CEE Legal Matters in the first month of the year alone?
The new NIS2 Directive will replace the current NIS Directive on security of network and information systems.
Dentons has advised Develia on its preliminary agreement for the EUR 70 million sale of the Wola Retro office building in Warsaw with the Adventum Group. Act BSWW advised Adventum.
On 14 December 2022 the lower house, Sejm, passed a bill on family foundations. The law was then sent to the Senate, where amendments were made to it, now pending before the Sejm. Regardless of these legislative works, it is expected that the law will come into force 3 months after its promulgation. It should therefore be possible to establish a family foundation as early as the first half of 2023.
As of 1 January 2023, new conditions govern aid in the Polish Investment Zone (PIZ), as indicated in the new regulation implementing the Act on supporting new investments (the new PIZ regulation).
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Clifford Chance’s Andrzej Stosio, Norton Rose Fulbright’s Warsaw Managing Partner Grzegorz Dyczkowski, and Mark Harrison, the Founder and Principal of Harrisons, all worked on six reported Banking & Finance deals in the past 12 months, placing them in a three-way tie for first place in CEE over that time?
Dentons has successfully represented the interests of Porsche Inter Auto Polska in multiple cases concerning excise taxation on intra-community acquisitions of passenger cars before the Provincial Administrative Court in Warsaw and the Supreme Administrative Court.
Contributed by Dentons.
On 20 December 2022, the Official Journal of the Republic of Poland published the rather awkwardly titled Act of 15 December 2022 on Special Protection of Certain Gas Fuel Consumers in 2023 Due to the Gas Market Situation (Gas Prices Capping Act). In this legal alert, we’ll look at the main rules intended to protect eligible customers against spikes in gas prices, payment of compensation to eligible suppliers, as well as amendments to the Energy Law (EL) that are likely to affect the market for companies producing energy from renewable sources (RES Businesses).
Dentons has advised NEPI Rockcastle on a EUR 60 million green financing for Ploiesti Shopping City from a syndicate of lenders led by BRD Groupe Societe Generale.
An economic crisis is definitely upon us. Factors such as inflation, reduced availability of raw materials and skyrocketing material prices and costs triggered by, among other things, the armed conflict in Ukraine and sanctions imposed on the Russian Federation, are having a direct impact on performance of contracts and their profitability. Among those hardest hit in these circumstances are parties to public procurement contracts.
Dentons has advised Helaba Landesbank Hessen-Thueringen on its EUR 129 million refinancing of five Accolade warehouse parks in Poland. Allen & Overy reportedly advised Accolade.
Former NGL Legal Partner Jaroslaw Witek has joined Dentons' Warsaw office as a Partner to lead the firm's Defense and Security group.
On 1 January 2023, an amendment to the Act on Significant Market Power in the Sale of Agricultural and Food Products and Its Abuse (the “Act”) comes into effect. The amendment significantly expands the Act’s scope both in terms of who is affected as well as the obligations it imposes.
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised SDT Uzay & Savunma Teknolojileri on its IPO with Info Yatirim.
Linklaters has advised NEPI Rockcastle on its acquisition of the Atrium Copernicus Shopping Center in Torun from G City Europe. Dentons advised the seller.
Linklaters has advised Echo Investment on the sale of the Face2Face Business Campus office complex in Katowice to a joint venture of Investika and Bud Holdings for over EUR 100 million. Dentons and, reportedly, Crido advised the buyers.
On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.
Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.
Dentons is one of the leading law firms in CEE/CIS, with offices in Warsaw, Prague, Budapest, Moscow, 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.