Cerha Hempel has advised ARE Austrian Real Estate on its acquisition of Vienna's Green Worx office complex from the UniImmo Deutschland real estate mutual fund managed by Union Investment. Schoenherr reportedly advised the sellers.
Hungary's New Integrity Authority: What Is It and How Could It Benefit Foreign Investors?
Hungary's parliament passed a package of anti-corruption laws on 3 October 2022 as part of the commitments made by the government to the European Commission.
Schoenherr and KPMG Legal Advise on CA Immo’s Sale of Romanian Portfolio to Paval Holding
Schoenherr has advised CA Immobilien Anlagen Aktiengesellschaft on the sale of a Bucharest seven-office-building portfolio to Paval Holding. KPMG Legal Toncescu si Asociatii advised Paval Holding.
Unbundling of the Hydrogen Sector: A Commission Proposal in Breach of EU Law
Late last year, the European Commission ("EC") adopted a legislative package on hydrogen and decarbonised gas, which includes a proposal for a Directive on Common Rules for Internal Markets in Renewable and Natural Gases and in Hydrogen ("Draft Gas Directive"). On 9 September 2022, the EC published a revised version of this directive, the key objective of which is to regulate hydrogen as an independent energy carrier.
ECJ Ruling Ends Unlimited Public Access to UBO Register
Under Article 30 (5) (c) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (AML Directive 2015), Member States are obliged to ensure that information on beneficial ownership is accessible by any person or organisation that can demonstrate a legitimate interest in obtaining it.
Schoenherr and Vukina & Partners Advise on Integral's Acquisition of Chips Way
Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised Integral Venture Partners on its acquisition of a controlling stake in Chips Way alongside co-investor and industrial partner Nelt Group. Vukina & Partners advised sellers Jagoda Bajevic, Dobroslav Barbaric, Ivana Vujcic, Matko Dropuljic, Vlatko Barbaric, Djordje Dragicevic, Ivana Einfalt, and Tomislav Bajevic.
Does Direct Marketing Require Specific Consent?
The Hungarian data protection authority (NAIH) fined Magyar Éremkibocsátó Kft, a limited liability company engaged in the numismatic business, HUF 30m (approx. EUR 73,000) for unlawful direct marketing activities.
Factoring and Liquidity Facilities: Making the Best of Both Worlds
Factoring volumes in Romania have seen a marked increase over the last year, up to EUR 3.68bln in the first half of 2022, according to public sources. While part of this 31.6 % year-on-year surge was driven by inflation rates, local businesses do appear to show a growing appetite for this type of financing product.
Schoenherr Advises BHM Group on Acquisition of Polish Retail Parks Portfolio
Schoenherr has advised BHM Group on the acquisition of a portfolio of ten Polish retail parks worth CZK 1 billion. Reportedly, Linkers advised the sellers.
Bulgaria Paves Way for Innovative Businesses with New Start-up Visa
After Decree No 318 of 7 October 2022 adopting the Ordinance on the conditions and procedure for issuing, extending and revoking a certificate for a high-tech and/or innovative project (the "Ordinance") was promulgated in issue 82 of the State Gazette of 14 October 2022, Bulgaria joins the almost half of EU countries that issue "start-up visas".
Schoenherr Announces New Steering Committee
Starting in February 2023, Partner Alexander Popp will take over as Managing Partner, with Partner Gudrun Stangl continuing in the COO position. Rounding out the Schoenherr Steering Committee are Partners Matei Florea, Thomas Kulnigg, and Franz Urlesberger.
Changing the Oil in the Debt Management Machinery
As part of a comprehensive EU strategy to tackle non-performing loans, the European Parliament and the Council adopted a directive on credit servicers and credit purchasers, which Member States have until 29 December 2023 to transpose into national law.
Schoenherr Advises Oiltanking on Divestment of Liquid Storage Facility Terminal in Bulgaria
Schoenherr has advised Oiltanking on the sale of a 91.1% stake in a liquid storage terminal at the Black Sea in Devnya, Varna, to Astra-Finance.
Did You Know: CEELM's Litigation/Dispute Resolution Briefings Leaderboard
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Schoenherr has published 18 articles of legal analysis on the subject of litigation/dispute resolution on CEE Legal Matters — the most of any firm — over the nine years of its existence?
Serbian Competition Authority Imposes EUR 460,000 Fine for Formation of a Consortium
The Commission for Protection of Competition of the Republic of Serbia ("Commission") recently imposed a EUR 460,000 fine on companies in the hazardous waste management market for forming a consortium to participate in a public procurement procedure.
Did You Know: Most Active CEE Firms During the COVID-19 Pandemic
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Clifford Chance worked on the most reported deals in CEE during the worst of the COVID-19 pandemic, from April 1, 2020, through January 1, 2022? In fact, the Magic Circle stalwart worked on an impressive 51 reported deals in CEE during that period – more than any other firm.
The Digital Services Act: A Tight Timeline for Compliance?
The Digital Services Act ("DSA") was published in the Official Journal of the European Union on 27 October 2022. This means that the Act, targeting numerous online services, will enter into force only 20 days later, on 16 November 2022.
Schoenherr Advises on Eucodis Bioscience Sale to Biosynth Group
Schoenherr has advised the shareholders of Vienna-headquartered biotech company Eucodis Bioscience on the sale of the company to the Biosynth Group. Reportedly, Gibson Dunn & Crutcher and E+H advised the Biosynth Group.