Summer is traditionally a slower period for many, including the legal sector, but, if used right, the time can pay dividends for law firms.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With managing firm clients being a critical aspect of firms’ operations, we asked: What are the three most important elements when onboarding a new client?
In the Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. With organizations continuously challenged to adapt to new and complex legal frameworks, this time we asked: For the implementation of whistleblowing requirements, do you intend to use internal resources or outsource, and why?
Greenberg Traurig has advised CCC Group on the up to PLN 1.8 billion term and revolving facilities provided by a consortium of banks and finance institutions. Clifford Chance and Lakatos, Koves and Partners advised the lenders.
As of 1 August 2024, the maximum amount of the fine that can be imposed by the Hungarian Competition Authority (“HCA”) will increase from 13% to 15% during the state of war emergency.
In export-import trade transactions across Europe, sellers commonly protect their assets by retaining the title of ownership until the buyer has paid the full purchase price. Retention of title allows sellers to reclaim the assets in case of non-payment or the buyer’s bankruptcy before full payment. However, in Hungary, such an arrangement can present unexpected challenges for sellers.
Wolf Theiss has advised Digi Tavkozlesi es Szolgaltato Kft. on acquiring Direct One from Canal+ Luxembourg S.ar.l. CMS advised the seller.
After heightened political tensions preceding June’s elections, Hungary is now implementing a new electronic land registry requiring attorneys to pass an exam, amid ongoing digitalization efforts, according to Nagy es Trocsanyi Partner Orsolya Kovacs.
Wolf Theiss has advised the 4iG Group and its telecommunications portfolio manager Antenna Hungaria Plc. on their acquisition of a 100% stake in PR-Telecom Tavkozlesi Zrt.
Kapolyi Law Firm has advised Amixa and Foodnet Ltd. shareholders on the former's acquisition of the latter and Amixa's listing of new shares on the Budapest Stock Exchange.
Schoenherr has advised BlackPeak Capital and Catalyst Romania Fund II on a EUR 10 million Series B funding for Leanpay.
Hungarian Lawyer Peter Paroczi has been promoted to the Head of Compliance and Corporate Governance at the Qatar Fertilizer Company.
To support the prevention of money laundering and terrorist financing, on 26 June 2024, the Hungarian National Bank issued two new regulations, incorporating changes in domestic legislation, guidelines of the European Banking Authority and lessons learned from supervisory experience.
On August 1, 2024, Filip & Company and CMS announced that Banca Transilvania's purchase of OTP Bank Romania (as reported by CEE Legal Matters on February 21, 2024) has now closed.