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Kocian Solc Balastik has advised J&T Bank on the financing aspects of a joint venture between the CPI Property Group and Best Hotel Properties, which purchased a 50% stake in a EUR 347 million portfolio of eight hotel properties.

Selih & Partnerji, Polenak, Maric & Co, Kalo & Associates, and BDK Advokati have advised NLB Skladi on its acquisition of Generali Investments in North Macedonia. Papazoski and Mishev, an independent law firm in cooperation with PwC, advised Generali Investments.

Paksoy has advised the joint bookrunners on Vestel Elektronik's USD 450 million issuance of fixed-rate senior guaranteed notes due 2029. White & Case and local affiliate GKC Partners advised Vestel Elektronik.

TGS Baltic has advised the Latvian state-owned electric utility company Latvenergo on its acquisition of the Telsiai project in Lithuania from Utilitas Wind. Triniti Jurex advised Utilitas Wind.

Noerr has advised SD Worx on its acquisition of small and medium-sized enterprise HR and payroll solutions provider TribePerk.

Kyriakides Georgopoulos has advised Starvert Energy on land rights issues, development services agreements, and corporate matters for the development of its Greek portfolio of photovoltaic and battery storage projects with a total capacity of 900 megawatts.

The Gen Temizer Erdogan Girgin Attorney Partnership has advised Eleven Ventures on its investment in Estonian start-up Cognitiwe.

Asters has successfully defended PrivatBank in a dispute over the title to Pryozernyi, a shopping mall in Dnipro with a total area of more than 32,000 square meters.

Gide has advised Redkom Development on the forward sale of a retail park in Bielsko-Biala to Newgate Investment. CMS advised Newgate Investment. Dabrowski & Partners reportedly advised Redkom Development as well.

Divjak Topic Bahtijarevic & Krka has advised the Talan Group on its sale of a 60% stake in Solvis to Advance Capital Partners. Sole practitioners Branimir Zarkovic and Toni Smrcek advised ACP.

Kyriakides Georgopoulos, working with Vinge, has advised the EQT Investments group on its public offer to acquire Swedish renewable energy company OX2 for USD 1.51 billion through an SPV.

Herbst Kinsky has advised Zouk Capital on leading Enspired's EUR 25.5 million series B financing round. Capital Push VC, Puspoek, Banpu Next, Vopak Ventures, and Presidio Ventures joined the round alongside existing investors Emerald Technology Ventures, Helen Ventures, 360 Capital, and EnBW New Ventures. KPMG Law advised Enspired.

The decision of the U.S. Securities and Exchange Commission (SEC) on January 10 has stirred significant attention, as it granted approval for the listing of certain products based on Bitcoin on the stock exchange. The impact of this decision on the European and American securities markets, and whether similar steps will be taken, depends largely on the details – including the names assigned to cryptocurrency-based products.

Former Teleperformance Chief Legal Officer Laura Rudnyanszky has joined Accenture in Bucharest as the company's Offerings Counsel Manager – Global Legal Network.

Former Eversheds Sutherland Romania Tax Partner Dragos Doros has joined the Artenie Secrieru & Partners law firm in Bucharest to launch their sister operation – Artenie, Secrieru, Doros Tax – as Managing Partner.

Former Rask Partner Mart Rask has decided to end his career as an Attorney at Law and step down from the Estonian Bar Association. He will continue his work with his eponymous firm as an Advisor.

Taylor Wessing has announced it brought on board former Lindner Stimmler Attorney at Law Sabine Meister as a Partner in its Vienna office to build up a Public Law team.

Former Partners Grzegorz Namiotkiewicz and Marcin Bartnicki have moved to Of Counsel positions at Clifford Chance in Warsaw.

Lead Counsel Alexey Amvrosov has started a new position with IBM as the Manager of the Legal Department IBM Central and Eastern Territories Europe.

Buzescu Ca has promoted Lawyer Adrian Tomescu to a Managing Partner position, with the firm also changing its name to Buzescu & Tomescu.

Former Managing Associate Dila Topuz has been promoted to a Partner position with Istanbul's Gen Temizer Erdogan Girgin Avukatlik Ortakligi – with the firm itself recently announcing the name change from the previously used Gen Temizer Ozer.

Martin Eichinger has been promoted to Partner at Cerha Hempel.

Former Allen & Overy lawyers Maciej Skoczynski and Marek Neumann have joined the Warsaw office of Dentons as Partner and Managing Counsel, respectively.

Former Ciftci Attorney Partnership Counsel Deniz Gocuk has been promoted to a Partner position within the Istanbul-based Clifford Chance affiliate law firm.

On 26 April 2024, the Cabinet of Ministers of Ukraine (“Government”) approved the Procedure for Using Funds from the State Budget to Provide State Support for the Implementation of Investment Projects Involving Significant Investments (“Budget Procedure”).

In a previous article, we analyzed the phenomenon where courts typically reduce the attorney fees awarded to the winning party. This essentially forces the winner to incur unjustified losses, indirectly causing market distortion. Now, the Supreme Court has responded to this phenomenon with a precedent-setting, binding decision. Let's first look at the key developments and then how this affects litigation strategy!

On 15 May 2024, amendments to the Labour Code of Ukraine came into effect aiming to regulate the rights and obligations of parties in labour relations during a change of control over business. The Ukrainian parliament adopted such amendments to align Ukrainian legislation with EU Directive 2001/23/EC, dated 12 March 2001.

In the audit practice of the Hungarian Tax and Customs Administration (HTA), the audit of transfer pricing is gaining importance. Moreover, the relevant regulations are becoming more complex with each passing year. As the deadlines for transfer pricing documentation approach, it is worth reviewing what hidden pitfalls should be avoided when preparing documentation and providing data.

Despite the ongoing war, there was a significant increase in Mergers & Acquisitions (M&A) transactions and private equity (PE) investments in 2023 compared to 2022, predominantly in the IT sector. Openly accessible market evaluations indicate that the volume of M&A deals might have reached $1.7 billion in 2023, five times more than in 2022. While that does not quite match the level of activity observed in 2021, it sets a cautiously optimistic tone for 2024.

The Court of Justice of the European Union has decided in two cases concerning Hungary in its judgments in joined cases C-420/22 and C-528/22, published on 25 April 2024.

The recent modifications to Law 17/2014 regarding on the regulation of sale of extramuros agricultural land („Law 17”) came into force through the modifications brought by Law 116/2024, adopted on 29 April 2024 and published a day later.

This legislative monitoring report covers the introduction of new rules regulating public procurement in international relations, the adoption of the Free Trade Agreement between the Republic of Moldova and EFTA member states, the introduction of new rules regulating trademarks from 2027, the adoption of the regulation on audiovisual content. The document also provides for the approval of the regulation on the environmental management of mercury waste, the adoption of the law on hunting and the protection of game resources, the implementation of the national programme for the development of creative industries "Creative Moldova" for the years 2024-2027, as well as the optimisation of the use of industrial parks. 

On 13 May 2024, the Parliament of Montenegro passed the Draft Law on amendments to the Copyright Law. The entry into force is yet to be announced, but it could be expected after June 2024.

A new decree entered into force on 9 April 2024 on the ban of employment of guest workers in the public sector in Hungary.

One of the measurable success stories of the fintech revolution is how donation and subscription-based community financing has become an alternative to traditional fundraising methods such as classical bank financing or venture capital investments. From this rapid development, it follows that there is a less uniform picture in the public consciousness about the phenomenon of "crowdfunding." How many forms are there? Which ones are regulated? Who are the actors in the process? What regulations apply to it? How are they taxed? Among many clarifications to be made, the main question, however, is whether specialized crowdfunding service providers for this purpose will emerge in Hungary as well.

In Serbia, most of the exclusivity arrangements between pharma companies need to be, prior to their implementation, individually exempt by the Serbian Competition Authority (“SCA”). Most recently, the SCA issued two decisions in the individual exemption process. In one it denied, while, in the other it only conditionally approved individual exemptions for exclusive distribution agreements between pharmaceutical companies. These developments show a noticeable shift in the SCA’s stand towards exclusivity arrangements with the SCA taking a stringent approach, limiting the parties' ability to contract exclusivity arrangements in the sector.

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From a significant downturn in project financing to promising developments in green energy, particularly wind, CMS Partner Eszter Torok shares valuable insights into the complexities of the Hungarian market against the backdrop of shifting economic and regulatory landscapes.

The International Arbitration and Cross-Border Litigation practice has taken center stage for Asters in Ukraine according to Co-Managing Partner Oleksiy Didkovskiy, with work driven by the war and the pandemic and a focus on state and quasi-state clients.

From her beginnings as an M&A attorney in Bulgaria to her current role as Regional Compliance Manager for Eastern Europe at Yazaki, Veselka Petrova’s career has been a testament to the power of blending legal expertise with strategic business insight.

On November 23, CEE Legal Matters reported that Cobalt had advised BaltCap Latvia Venture Capital Fund and funds managed by Imprimatur Capital, together with other shareholders, on the sale of Blue Bridge Technologies to Everfield. CEE In-House Matters spoke with Henning Schreiber, Head of Acquisitions at Everfield, to learn more about the acquisition.