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Internal corporate investigations are no longer occasional procedures but essential elements of organizational integrity and risk management. In Hungary, where labor law, data protection, and criminal law intersect, companies must handle investigations with diligence. While whistleblowing systems are mandatory for certain Hungarian organizations, effectively managing reports remains challenging. Establishing robust internal policies and adhering to data protection standards from the outset are the best safeguards against corporate liability risks, as improperly handled evidence may be inadmissible in legal proceedings. As a result, internal investigations must emphasize transparency, proportionality, and lawful data management, particularly when competition law or criminal law issues arise.

Baker McKenzie and its Turkish affiliate firm Esin Attorney Partnership have advised Akbank on its TRY 3.9 billion (approximately USD 100 million) mortgage-backed covered bond issuance to the European Bank for Reconstruction and Development. Allen Overy Shearman Sterling and its Turkish affiliate firm Gedik & Eraksoy advised the EBRD.

Allen Overy Shearman Sterling has advised Bank Polska Kasa Opieki on its successful issuance of EUR 500 million in 3.750% senior non-preferred fixed-to-floating rate notes due 2031. Bank Pekao, Commerzbank, J.P. Morgan, Societe Generale, and UniCredit were the joint lead managers. Baker McKenzie reportedly advised the banks.

Greenberg Traurig has advised Benefit Systems on its accelerated book building process for 280,000 Series H new-issue shares raising PLN 742 million (approximately EUR 173 million) with Jefferies, Santander Bank Polska – Santander Biuro Maklerskie, Banco Santander, and WOOD & Company Financial Services as the joint global coordinators. Baker McKenzie advised the joint global coordinators.

With the rise of digital platforms and the possibilities that the internet provides for businesses, more and more sellers are able to offer goods and services via these platforms and the internet. In this context, it has been difficult for the Ukrainian tax authorities to trace the flow of goods and services as well as to identify sellers to ensure that these goods and services are duly taxed.

White & Case Turkish affiliate law firm GKC Partners has advised Zorlu Enerji on the USD 100 million tap issuance of senior guaranteed sustainability-linked notes due 2030. Baker McKenzie and its Turkish affiliate law firm Esin Attorney Partnership reportedly advised on the transaction as well.

On 9 April 2025, Law of Ukraine No. 4292-IX On Amendments to the Civil Code of Ukraine on Enhancing the Protection of Bona Fide Owner's Rights (the "Law") came into force. The Law aims to enhance the protection of bona fide owners' rights by establishing a time limit for the reclamation of real estate of such bona fide owners and providing compensation to them for such reclamation.

Baker McKenzie has advised Argan Capital and Polon-Alfa on the financing required for a new continuation fund for Polon-Alfa managed by Argan Capital as well as on the full refinancing of Polon-Alfa’s existing debt secured through P Capital Partners. Clifford Chance reportedly advised on the matter as well.

The Digital Operational Resilience Act (DORA) is a central component of the EU’s Digital Finance Package. The aim is to enhance information and communications technology (ICT) security and digital operational resilience in the financial sector. Financial institutions and ICT service providers have until January 17, 2025, to fully implement the requirements.

On 1 March 2025, the Law of Ukraine "On Amendments to Certain Laws of Ukraine on Ensuring the Rights of Persons with Disabilities to Work" dated 15 January 2025 No. 4219-IX ("Law") came into force, aiming to create conditions for the exercise of the right to work for persons with disabilities.

Baker McKenzie at a Glance

Baker McKenzie brings insight and foresight to clients across more than 70 global offices. Our team of 13,000 people, including over 6,500 lawyers, works alongside our clients to drive growth that is both sustainable – and inclusive. The global business community is more interconnected than ever before. Opportunities and risks spill across different markets, sectors and areas of law, so a connected perspective is essential in delivering business objectives while mitigating risk. Our integrated client solutions provide seamless advice, underpinned by deep practice and sector expertise, as well as first-rate local market knowledge.

In the Central and Eastern European (CEE) region, Baker McKenzie's expansion remains steadfast, with a thriving team of over legal professionals. Our footprint extends across six offices in Austria, the Czech Republic, Hungary, Poland, Türkiye, and Ukraine. As part of our global network, coupled with well-established partnerships throughout the entire CEE landscape, we proudly stand as one of the foremost international law firms in this dynamic territory. Our reputation as a premier business law firm in CEE is a testament to our extensive experience in advising on a multitude of prestigious projects and nurturing enduring client relationships.

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