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Guleryuz Partners, working with the Galadari Law and Eversheds Sutherland, has advised the Tiryaki Group on its USD 112.5 million financing package from the IFC, FMO, and Proparco to finance an agro-industrial complex in Iraq’s Umm-Qasr Port. Allen & Overy, working with Confluent Law, advised the lenders.

The Ministry of Economy has extended the eligible period for electricity and gas price compensations. In addition to 2023, it will also be possible to apply for compensation for the period up to 30 June 2024. Applications can be submitted until 15 June 2024.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

CEE Legal Matters invited me to write about “lawyering in CEE.” My “lawyering” in the region started on January 2, 2000, when I was a young graduate working in Vienna for clients with business in the Czech Republic and Slovakia, and soon I was sent to Prague, and Bratislava. Over time, I witnessed not only economic booms and crises and political and economic transformations but also changes in the legal market and how law firms work.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2023 marching to an end, we looked ahead and asked about strategies for next year: As the budgeting period is around the corner, compared to 2023, what are the main budgeting lines you expect to increase for 2024 and why?

Eversheds Sutherland Slovakia Managing Partner Bernhard Hager talks about the evolution of the energy sector and their role as legal advisors in Slovakia over the last 10 years.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Shifting our focus to the financial aspects of legal work, we asked: What percentage of your issued bills end up being overdue, what percentage end up never paid, and what is your firm’s/office’s standard methodology to handle both cases?

In January 2023, a new directive on measures to ensure a high common level of cybersecurity in the Union (the "NIS 2 Directive") entered into force, and is to be transposed by 17 October 2024.

The new law (Act No. 309/2023 Coll.) introduces a new comprehensive regulation of national and cross-border transformations of commercial companies and cooperatives in a special law. Most of the provisions will enter into force on 1 March 2024.

Eversheds Sutherland member Tsvetkova Bebov & Partners, working with Clifford Chance, has advised the Republic of Bulgaria on a dual-tranche EUR 2.3 billion sovereign bond issuance. Linklaters and DGKV reportedly advised joint lead managers BNP Paribas, Credit Agricole CIB, Deutsche Bank Aktiengesellschaft, and JP Morgan.

Greenwashing is an umbrella term for misleading environmental claims. A claim is any promotional communication that can be communicated in advertisements, marketing materials, product manuals, prospectuses for investors, recruitments ads, annual reports, on packaging or brands themselves.

Eversheds Sutherland member Tsvetkova Bebov and Partners, working alongside White & Case, has advised Energo-Pro on an issue of USD 300 million bonds due 2028. Reportedly, BLC Law Office and GKC Partners advised on the issuance as well while Allen & Overy, Boyanov & Co, and Gedik Eraksoy advised the banks involved.

The government has proposed a package of measures aimed at reducing the state budget deficit in the next coming years. The package anticipates savings of almost CZK 150 billion, which, should bring to the state budget, in addition to changes in tax rates, also changes affecting employees and employers.

Eversheds Sutherland at a Glance

Eversheds Sutherland with offices in Bratislava and Prague and as part of an international network, provides comprehensive legal advice also in foreign jurisdictions.

Our team consists of a total of more than 40 lawyers in the Czech Republic and Slovakia, most of whom have previously worked at major international and local law firms and have extensive experience in particular in the areas of corporate law, including mergers and acquisitions, capital markets, real estate, employment law, competition law, litigation and arbitration, energy, infrastructure, as well as environmental and ESG law.

Our advisory services are offered in Slovak, German, Czech and English language. Members of our team include attorneys registered with the Austrian Bar Association. On this basis, and because we are part of Eversheds Sutherland, we are also able to offer extensive legal support on various foreign legal issues.

We listen to our clients, we understand their business and we also understand what they need. So we can always find the best solution for the particular situation. We work quickly, efficiently and take responsibility for our work.

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