Montenegro is still considered a rising star in the Balkan peninsula, attracting the attention of potential investors worldwide, and that’s especially the case with the country’s real estate market.
The political turbulence within and beyond Bulgaria has not only caused unpredictability in the regulatory environment but also drastic changes in the national energy sector. Following the Russian invasion in Ukraine, Bulgaria took steady steps to break its dependence on Russia as a single supplier of natural resources.
Bulgaria’s infrastructure sector has seen major projects completed and many more are planned. With the country facing political turmoil and corruption still an infrastructure buzzword, Kinstellar Partner Antonia Mavrova and Gugushev and Partners Senior Partner Victor Gugushev navigate the intricacies of Bulgarian infrastructure.
For Bulgaria’s capital markets, the past ten years saw several landmark developments, large IPOs, and programs and initiatives tailored for small and medium-sized enterprise needs. Penkov Markov & Partners Associated Partner Boris Lazarov, Djingov Gouginski Kyutchukov & Velichkov Partner Gergana Monovska, and Tokushev and Partners Managing Partner Viktor Tokushev walk us through the highlights.
The Hungarian telecoms market saw several major transactions during the past few years, with 2022 and early 2023 witnessing undoubtedly the largest transaction in decades: the acquisition of Vodafone Hungary by 4iG (51%) and state-owned Corvinus Zrt. (49%) for a deal value of approximately EUR 1.7 billion.
In terms of legislation, first, a long-awaited amendment of the insolvency act allows the liquidator to upkeep the debtors’ operation during the liquidation process even if it is at a loss, if it can be assumed that the operation preserves the assets better than shutting off the business would. The liquidator can decide to continue the operation for the first 120 days of the liquidation procedure, but any further extension of this operation period requires the approval of the court.
The escalation of the war in Ukraine in February 2022 shocked Hungary’s energy sector to such an extent that the Hungarian government declared a state of energy emergency by its resolution dated July 15, 2022. After the first anniversary of the escalation, the smoke has cleared enough to draw conclusions regarding the future based on the reactions of the stakeholders.
The Hungarian renewable energy sector has developed significantly in recent years: the share of electricity from renewable energy sources in gross final electricity consumption was 7.51% in 2017, increasing to 13.9% in 2021. This rapid development was mainly due to the increase in solar power capacity, as the installed capacity of Hungarian solar power plants was around 350 megawatts in 2017, while it exceeded 4000 megawatts in 2022.
Recent changes to the Hungarian Labor Code on the abuse of rights rules are a hot topic among employers, HR professionals, and employment lawyers in Hungary. In this article, we will take a look at what the new rules mean for employers and how they may mitigate the legal risks and financial exposure arising from the amendments.
In recent years, the major development in Hungary’s banking system is the establishment of the country’s superbank through the merger of Budapest Bank, MKB Bank, and the Takarek Group. DLA Piper Partner Andras Nemescsoi, Forgo Damjanovic & Partners Managing Partner Gabor Damjanovic, and Jalsovszky Law Firm Managing Partner Pal Jalsovszky share insights into the driving forces behind this development, its current status, and its anticipated impact on Hungary’s banking sector.
Hungary has traditionally been the go-to hub for filming in Continental Europe. DLA Piper Partner Monika Horvath and Dentons Partner Timea Bana talk about the evolution of Hungary’s film industry over the past decade and whether the country has maintained its position as the primary European filming destination.