CMS has advised Santander Bank Polska, mBank, and Alior Bank on a seven-year syndicated financing for Golebiewski Holding.

Potamitis Vekris has advised Farallon Capital Management on the sale of its majority stake in Euromedica Group’s clinics and rehabilitation centers business to Imithea Single Member. KLC reportedly advised the buyer.

CMS has advised the Czech Skoda Group on winning an order from Bulgaria's Ministry of Transportation for 20 four-car electric trains, alongside an option for an additional five units.

Kinstellar and its Turkish affiliate KST Law have advised Eleven Fund III Cooperatief on its USD 1.1 million seed investment in Magfi. May Law Office advised Magfi.

Dorda has advised KGAL on the acquisition of the VIE office building in Vienna.

Wolf Theiss has advised on the reorganization of Oerlikon’s nitriding business in Slovakia via a spin-off of the business into a standalone legal and operational entity.

RPCK Rastegar Panchal has advised Propcorn FlexCo on a EUR 600,000 pre-seed investment round by investors Hansi Hansman and his Hans(wo)men Group, venture capital fund Calm/Storm, and Weilburg Ventures.

Avellum has advised the European Bank for Reconstruction and Development on a senior EUR 70 million loan to New Post LLC – the principal operating subsidiary of Nova group.

Schoenherr, working with Gleiss Lutz, has advised Rehau Automotive on the sale of its European sealing and extrusion business unit to Vintech Industries. Taylor Wessing reportedly advised Vintech Industries.

Norton Rose Fulbright has advised Susi Partners, acting on behalf of Susi Energy Transition Fund, and its portfolio company, Luneos Green Energy, on a PLN 81 million facility made available by mBank. Rymarz Zdort Maruta reportedly advised mBank.

SSK&W has advised Spyrosoft BSG S.A. on its merger with Spyrosoft BSS Sp. z o.o.

TGS Baltic has advised Nala Renewables on its acquisition of a 34-megawatt solar power plants portfolio in Lithuania from Green Genius.

Former Suciu Popa Partner Luminita Popa has left the firm to establish Popa Legal.

Suciu Popa has announced it is rebranding as Suciu Partners following former Partner Luminita Popa's departure. Founding Partners Cleopatra Leahu and Dan Ciobanu were appointed as Deputy Managing Partners alongside Managing Partner Miruna Suciu. The firm also appointed Partner Mihai Caragui as its new leader of the corporate and advisory departments, Partner Radu Chiran – as its new coordinator of the litigation and arbitration practices, and promoted Noemi Siman to Partner.

Former Triniti Jurex Attorney at Law Deivis Valiulis has joined Eversheds Saladzius' real estate and construction team as Partner, together with Senior Associates Raminta Vilcinskaite and Ruta Brazauskiene, Associate Marius Choniakovas, and Lawyer Dominyka Burneikaite.

Kinstellar has announced it successfully completed the acquisition of Noerr’s Bratislava, Bucharest, and Prague operations.

Former Deloitte Legal Albania and Kosovo Local Legal Partner Sabina Lalaj has established her eponymous firm Lalaj & Partners in Tirana.

PwC Legal-affiliated D&B David si Baias has promoted Lucian Bozian to Partner.

BPV Huegel has promoted former Attorney at Law Paul Pfeifenberger to Partner.

Former Panattoni Legal Director Kamila Dutkowska-Wawrzak has joined Atlas Ward as Legal Director and Board Advisor.

Former Verdi Partner Ayse Demirel Atakan has joined Paksoy as a Partner in the firm's corporate law, M&A, and private equity practice.

CHG Rechtsanwaelte has launched a new practice group focusing on data and technology.

Dentons has appointed Partner Mark Segall as the new co-head of the Banking and Finance practice in Poland. He will lead the department alongside Partner Bartosz Nojek.

Former DLA Piper Counsel Magdalena Zablocka-Foulkes has joined Orlen as its new General Counsel.

When developing their models, AI providers use various data sets. Sometimes these are provided by their clients, as in the case of tailor-made chatbots, and sometimes the models are trained on licensed or even publicly available data.

On 16 August 2024, new rules for the registration of geographical indications in Ukraine came into force ("Rules"). In accordance with Order of the Ministry of Economy of Ukraine No. 16370 dated 09.07.2024, the Rules establish requirements for the registration of geographical indications for agricultural goods, food and alcoholic beverages.

The exclusion of shareholders has been seen over the years as a specific procedure aimed at safeguarding companies, in case of a serious breach of the legal and contractual obligations of the shareholders or in case of events with legal effects on some shareholders – resulting in the loss of the “unanimous” consent expressed as affectio societatis (consisting in the shareholders’ intention to cooperate in running the business to achieve and share the benefits).

Manufacturers have less than a month left - until June 30, 2024 - before they must comply with the rules for products subject to the mandatory Deposit Refund System (DRS) when placing them on the market. Compliance with the new regulations will result in a price increase of HUF 50 per product, which consumers will have to bear - unless they return the relevant beverage cans and bottles.

The Cabinet of Ministers of Ukraine published Resolution No. 988 dated 16.08.2024, which amended the Procedure for Reservation of Persons Liable for Military Service during Martial Law (hereinafter – the “Reservation Procedure”). Key changes are:

In the Hungarian Gazette of 8 August 2024, four long-awaited decrees were published, which supplement and detail the provisions of the Hungarian ESG Act.

Montenegro lacks specific legal regulations or national strategies for AI, with current AI activities governed by general legal principles from existing laws. Despite the absence of detailed regulations or strong government support, public awareness of AI is relatively high, with 59.1 % of citizens familiar with the technology. Several initiatives are actively promoting the safe development and use of AI, reflecting a growing public interest in influencing future AI regulations.

As in every year, the Hungarian tax administration has published its yearly summary with the most important trends and numbers regarding taxation in Hungary during 2023. In the last year it seemed that, while the tax authority was still increasing its efforts to entice the taxpayers’ voluntary compliance, fines have also soared to unprecedented heights. The statistics also show that it remains worthwhile to take the case to the courts if one finds the National Tax and Customs Administration’s decisions unlawful.

Default penalty amounts generally has been doubled in Hungary as of 1 August 2024. According to the Governmental Decree published in the Hungarian Gazette on 8 July 2024, overwriting the Act on the Rules of Taxation, the increase is due to the Ukrainian war and is theoretically effective by the end of the emergency period.

The Parliament of Montenegro passed the Law on the Use of Energy from Renewable Sources, which was published in the Official Gazette of Montenegro on August 23rd, 2024. The Law will enter into force on the eighth day from the day of its publication in the Official Gazette of Montenegro.

Hungary's growing economic performance and competitive tax system offer a good business environment for companies from Switzerland, while the presence of Hungarian companies in Switzerland is also growing.

On 1 September 2024, the National Cyber Security Law came into force, replacing the Law on the Security of Information Technologies. 

RTPR has assisted the shareholders of 123FormBuilder – 212 Regional Fund II, Catalyst Romania, Florin Cornianu and Adrian Gheara – in relation to the sale of the company to American group Kiteworks.

Oliver Koppany will be joining Jalsovszky as Foreign Legal Counsel from September, focusing on US-Hungarian business connections.

Paul Pfeifenberger (36) specialises in real estate and has been with bpv Huegel since 2015.

RTPR has assisted OX2 in relation to the sale of a 99.2 MW onshore wind project located in the Eastern part of Romania to Nala Renewables, a joint venture between IFM Investors and Trafigura.

RTPR has assisted private equity fund Innova Capital in relation to the sale of Optical Investment Group to EssilorLuxottica, a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses.

RTPR has assisted Vectr Holdings, through its subsidiary Vectr Realty Holdings, in relation to the indirect acquisition of 100% stake in the company that owns The Landmark from funds managed by Revetas Capital and affiliates of Cerberus Capital Management.

RTPR has assisted Global Records and Stefan Lucian, the founder and CEO of the company, in the process of selling a 25% stake in the company to Believe, one of the world’s leading digital music companies and of setting up the terms of their strategic partnership.

The company transfer also successfully secures the future of SPORT 2000 in Austria.

Delighted to have contributed the chapters on Bulgaria in the latest edition of Chambers and Partners Corporate Governance Global Practice Guide 2024, alongside some of the leading international corporate law firms. Our partners Pavel Hristov and Dragomir Stefanov elaborate on key CG issues.

We are proud to announce that KCG Partners have advised Corvinus Zrt., the Hungarian state-owned investment fund in the strategic acquisition of majority interest of Budapest Liszt Ferenc International Airport.