Let's start with the fundamentals: Hungary will need significant additional power plant and battery capacities, and it will need them soon. This necessity persists despite the gross amount of solar power capacity reaching 7.5 GW by the end of 2024, a target initially set for the 2030s. The drive for electrification, the goal to reduce energy imports, the high average age of the existing generator portfolio and the previous focus on solar energy necessitate at least 10 GW of new generation capacities, with a preference for baseload generation and/or storage solutions. The state-owned incumbent MVM is already developing 3x500 MW new combined cycle gas turbine (CCGT) installations and 2x1000 MW new nuclear blocks, but significant private investment is still required.

Text and data mining (TDM) has emerged as a powerful technique for extracting valuable insights from large datasets, particularly in fields such as research, healthcare, and marketing. However, as the capabilities of TDM continue to expand, it is essential to consider the legal frameworks that govern its application. In Poland, this involves a complex interplay of national legislation and European Union directives, particularly regarding intellectual property rights, data protection, and exceptions for research.

CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Real Estate in CEE.

Contributed by Schoenherr.

The Austrian Beneficial Owners Register Act (BORA) requires certain legal entities to report their ultimate beneficial owners (UBO) recurringly, at least once a year and whenever changes occur in an entity's UBO.

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised Fifth Quarter Ventures on its investment in Nextesy. Advoro reportedly advised Nextesy.

In an eagerly awaited development, Romania has taken a step forward in fostering more clarity on essential concepts relevant for foreign direct investment (FDI) screening, by publishing draft guidelines (the "Guidelines"), anticipated to enter into force in March 2025. While the Guidelines may not bring major surprises for practitioners who have been working in the FDI trenches since the regime came into force in April 2022, the formal codification of the authority's practice is a welcome step toward greater transparency and predictability.

As part of the EU Gas and Hydrogen Package, Directive (EU) 2024/1788 of 13 June 2024 ("Internal Gas Market Directive; IGMD") makes provisions for the first time on the phase-out of gas by network operators through the decommissioning of gas networks. Article 57 IGMD stipulates that gas distribution system operators ("DSO") must develop network decommissioning plans ("NDP") if a reduction in natural gas demand is foreseeable. The competent national authorities assess whether the NDP for the distribution network meets the principles set out in the IGMD.

Gecic Law, working with Clifford Chance, has advised Telekom Srbija on its acquisition of Eon TV International from United Group as part of a deal that also saw United Group sell SBB Belgrade to e& PPF Telecom Group. Kinstellar, working with Sullivan & Cromwell, advised e& PPF Telecom Group. Moravcevic Vojnovic and partners in cooperation with Schoenherr, working with Kirkland & Ellis, advised United Group.

Kinstellar has advised TSH Investment on the acquisition of the Park Center shopping mall in Sofia from Revetas Capital Advisors. Schoenherr advised Revetas on the deal.

Schoenherr, working with Argo, has advised Group Vandamme on the sale of its Hungarian activities to ADM. Baker McKenzie advised the buyer.

The Export Credit Insurance Corporation (Korporacja Ubezpieczeń Kredytów Eksportowych; "KUKE") is the only export credit agency in Poland providing export insurance for trade security in high-risk markets guaranteed by the Polish State Treasury, regulated by the Polish Act of 7 July 1994 on Insurance Guaranteed by the State Treasury.

Captive insurance has experienced significant growth globally in recent years, driven by hard market conditions, emerging risks and increased volatility. Statistics reveal a steady increase in the number of captives over the past four years, rising from 5,879 in 2020 to 6,181 by the end of 2023, according to the Captive Managers and Domiciles Rankings + Directory 2024 published by Business Insurance.[1] Captive insurance companies are also increasingly used by Forbes 1000 and Fortune 500 companies to manage complex and emerging risks.

A&O Shearman has advised LaSalle Investment Management on the sale of the Wronia 31 office building in Warsaw’s Central Business District to UNIQA Real Estate Management. Koda reportedly advised UNIQA. Schoenherr reportedly advised on the deal as well.

On 17 December 2024, in a lawsuit brought by a tenant against his landlord for repayment of operating costs and rent increases based on indexation, the Supreme Court ruled (10 Ob 54/24z) that the landlord was obliged to repay the operating costs, but confirmed the validity of the value retention clause and provided some clarification on points that had previously been controversial.

Former Protopopescu & Partners Founding Partner Tiberiu Protopopescu has joined Schoenherr as a Senior Attorney at Law.

Schoenherr has advised Connectis on the acquisition of SpeedApp. Crido reportedly advised the sellers.

White & Case has advised the lenders on the financing for the acquisition of Cellnex's business in Austria. Binder Groesswang reportedly advised the lenders as well. Schoenherr, working with Hogan Lovells, reportedly advised the sponsors.