A sound investment requires an understanding of all the risks involved in the transaction. The main objective of real estate financial due diligence is to thoroughly inspect the fundamentals of the property, financing, seller and compliance obligations to be able to reduce and mitigate financial uncertainties.

Growing inflation and budgetary limitations are the key challenges faced by Hungary's newly elected parliament, according to Jalsovszky Law Firm Partner Tamas Feher.

Senior Managing Associate Linda Al Sallami has become the new Head of Banking, Finance & Capital Markets at Deloitte Legal’s Budapest office.

EU and Hungarian competition law considerations are also highly relevant in any real estate transaction, especially from a merger control and information exchange perspective.

Clifford Chance has advised Norsk Hydro on its tender offer for the purchase of Alumetal. Lakatos, Koves, and Partners reportedly advised Norsk Hydro on Hungarian law-related matters. Penteris reportedly advised Alumetal.

The Hungarian Government issued a decree that amends certain provisions of the bank's liquidation proceedings.  The decree entered into force on 15 April, and it affects the solvent liquidation of Sberbank Hungary, subsidiary of Sberbank Europe AG, Hungarian member of the Russian Sberbank group. 

Former Mediaworks Hungary General Counsel Istvan Szatmary has returned to private practice as a Partner.

Timea Bana, Radoslaw Goral, Marceli Kasperkiewicz, and Michal Wasiak have been promoted to Partner as part of Dentons' recent promotion round that also included the recently reported promotion of Tomasz Zwolinski to Partner (as reported by CEE Legal Matters on April 28, 2022).

The Hungarian National Authority for Data Protection and Freedom of Information (NAIH) recently published its annual report for 2021, which contains some useful information for data controllers.

CEE Legal Matters spoke with CMS Partners Alexander Rakosi, Horea Popescu, Philipp Mark, and Tetyana Dovgan about the impact the rise of ESG is having on the M&A landscape.

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. The question this time: Who was your favorite professor in university and why?

The summary below highlights the most important changes to the Hungarian Tax Regime for 2022.

Taylor Wessing has advised Seon on its recent USD 94 million series B funding round led by Silicon Valley-based IVP and including existing investors Creandum and PortfoLion. Reportedly, Wilson Sonsini Goodrich & Rosati advised Seon as well.

In its recommendation issued at the end of March 2022, the European Commission urges Member States to immediately end their investor citizenship schemes and ensure strict controls to address the security, money laundering, tax evasion and corruption risks of investor residence programs.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

The prospective tax and retail business nationalization-related reforms, together with war-related sanctions, are the major discussion topics in Hungary, according to Bittera Kohlrusz & Toth Partner Milan Kohlrusz.

The Hungarian tax authority published its annual tax audit guidelines with the clear aim of supporting compliant taxpayers and take firm actions against intentional tax evasion by utilizing various data sources available in the process. E-commerce, real estate industry, data-based risk analysis remain key elements.

From 1 April 2022, substantial changes were made to the provisions of the government decree on the construction and construction-related profession exercising activities, i.e. designers, construction technical supervisors, responsible technical leaders and construction experts.