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Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

Political uncertainties, surging inflation and energy prices, and, despite it all, a vibrant and diversified economy are the key points of current events in Albania, according to Frost & Fire Consulting Partner Reshard Kellici.

Herbst Kinsky has advised Byrd Technologies on its EUR 50 million Series C financing round led by Cambridge Capital and including Elevator Ventures, Mouro Capital, and Speedinvest.

The Austrian real estate market remains vibrant throughout the country, despite growing construction and energy prices, according to Dorda Partner Magdalena Brandstetter.

Herbst Kinsky, working with Frankfurt-based Skye Partners, has advised Invision AG on the acquisition of the Austrian EduPRO Group from Luxempart German Investments S.A. Orrick's Dusseldorf office reportedly advised EduPRO on the deal.

Belarus's Revera law firm has teamed up with Adamante Management to open the firm's Cyprus office.

On July 9, 2021, substantial amendments to Belarusian currency legislation entered into force. We will briefly review the key amendments.

Economic optimism in the face of adversity, the introduction of English law instruments, and some new potential for growth are the highlights in Belarus, according to Aleinikov & Partners Senior Partner Denis Aleinikov.

Zlatan Balta has joined Legal Partners, in cooperation with Deloitte Legal, as the leader of its legal practice in Bosnia & Herzegovina.

Doklestic Repic & Gajin has advised Beijing New Building Materials Plc on the transaction with the Coal Mine and Thermal Power Plant Ugljevik for the creation of a EUR 50 million gypsum board joint venture. China's Shihui Partners reportedly advised BNBM on the deal as well.

With 2022 being an election year for Bosnia, there is not a lot of market activity, according to BB Legal Partner Nenad Baros. There are crypto-related legislation updates on the horizon, however, and the market has settled down following the sale of Sberbank assets in the country to local banks.

CMS has advised Portugal's MGI Capital on the sale of Bezmer Energy to Philicon-97.

The strongest forces shaping the dynamics of legal work in Bulgaria, according to Kinstellar Partner Antonia Mavrova, are the country’s recently approved Recovery and Resilience Plan and the branching consequences of the war in Ukraine.

Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

On the 9th of March 2022, the Croatian Parliament adopted the amendments to two crucial Croatian laws – the Companies Act (ZTD) and Court Registry Act (ZSR). Most of the amendments to the ZSR entered into force on the 24th of March; two articles will be entering into force on the 1st of August 2022, and another one on the 1st of August 2023. Amendments to the ZTD are still to come into force, some on the 1st of June 2022, and others (the most significant ones) only on the 1st of August 2023.

This year, the Croatian Companies Act (Act) was amended again (amendments enter into force on 1 June 2020 and on 1 August 2023).

Former Schoenherr Attorney-at-Law Ozren Kobsa has joined Krehic & Partners in cooperation with Deloitte Legal as Partner and Head of the Banking & Finance team.

Kocian Solc Balastik has advised the VGP Group on leasing a 49,000 square-meter warehousing commercial space in VGP Park Olomouc to Hella Autotechnik Nova. Dentons reportedly advised Hella Autotechnik on the deal.

A good idea is the cornerstone of a successful start-up. In practical terms, however, it is often not enough. Here is an overview of legal mistakes founders of start-ups often make but that can be easily avoided on the way to the next step towards success.

Jan Kubicek has joined British American Tobacco in the Czech Republic as Senior Legal Counsel.

Souriadakis Tsibris has advised Goldman Sachs on establishing a branch in Athens.

The Lambadarios law firm has advised the Hellenic Republic Asset Development Fund on the first stage of the new concession tender for the Attiki Odos motorway.

White & Case has advised Energean Oil & Gas S.A. on the provision of a loan from the Black Sea Trade Development Bank, which is supported by a guarantee and subordinated loan from the Greek State. Watson Farley Williams reportedly advised BSTDB on the deal.

Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

Screening of foreign direct investment (FDI) has been present in Hungarian law since 2019 in relation to certain specific investment-related activities. During the COVID-19 pandemic, additional FDI screening legislation was introduced in May 2020. The 2020 regime has had an impact on a significantly wider range of business transactions and, therefore, this summary focuses solely on the 2020 regime (FDI Rules). Given that a real estate asset deal may also fall within the scope of the FDI Rules, assessing the potential application of the FDI Rules has become an important item on the real estate due diligence to-do list. Below you will find a summary of the applicable regime based on our experience to this date.

A sound investment requires an understanding of all the risks involved in the transaction. The main objective of real estate financial due diligence is to thoroughly inspect the fundamentals of the property, financing, seller and compliance obligations to be able to reduce and mitigate financial uncertainties.

Pohla & Hallmagi has successfully represented UK company Steamship Mutual Underwriting Association in Marshall Island-registered oil tanker Advantage Pride arrest proceedings.

Sorainen has advised HydrogenOne Capital Growth on its EUR 24 million investment in Elcogen. Gowling WLG reportedly also advised HydrogenOne.

Sorainen has advised Reiterate on raising EUR 1.25 million in a pre-seed round led by Hummingbird Ventures. Cobalt advised Hummingbird on the deal.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

The recent legislative amendments regulating commercial courts, e-signatures, intellectual property, and oil products trading are the major updates in Kosovo, according to RPHS Law Managing Partner Kushtrim Palushi.

On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Vladimir Rangeloff of Kambourov & Partners to learn what they are looking forward to the most.

Cobalt has advised Latvenergo AS on its issuance of EUR 100 million five-year green bonds with a fixed annual interest rate and a yield to maturity of 2.42%.

Triniti has advised Enersense on the exercise of its call option to increase its shareholding in the local Latvian affiliate Empower.

The word of the day in Latvia is resilience – that of the M&A market, capital markets, and overall business sectors, according to Eversheds Sutherland Partner Maris Vainovskis.

Cobalt has advised Lithuanian financial technology start-up Kevin on raising USD 65 million in a Series A funding round. Sorainen advised investor Global PayTech Ventures.

Sorainen has advised Raydiant on establishing a new office in Vilnius, Lithuania.

Motieka & Audzevicius has successfully represented Natura Furniture in a dispute against GE Power in ICC construction arbitration and Swedish arbitral award annulment proceedings.

Former SkopSter Senior Legal Counsel Iva Djugumanova has joined ODI Law’s Skopje office as Senior Associate and Head of the Corporate practice.

ODI Law has successfully represented LSG Building Solutions d.o.o. construction company in a EUR 215,000 claim against the City of Skopje arising out of a public procurement contract for performing construction works for the reconstruction of the Pelagonija building on the Skopje central square. 

ODI Law has successfully represented Tirana-based A&A Group in a EUR 1 million claim based on unpaid loans against marijuana producer F&M 2017 d.o.o. 

Current geopolitical events might revolutionize Moldova’s energy industry, with progress being made on both legal and technical mechanisms, according to Dolea & Co Managing Attorney Sorin Dolea.

In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

All the countries around the world regardless of whether they are big or small, wealthy or poor, developed or developing, are facing the consequences of the coronavirus crisis. The ongoing COVID-19 pandemic has revealed the fragility of healthcare systems, the instability of economic structures, and the vulnerability of society.

In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

White & Case has advised the CTP Group on its recent acquisition of a Polish logistics project portfolio from 7R. Linklaters advised 7R on the sale.

Former Arzinger Law Office Partner Anna Zorya has joined Rymarz Zdort as Partner. She is joined by former Arzinger Associate Viktoriia Dobrynska.

DWF has advised IWG plc on the lease agreement for 1,450 square meters of office space in the Okraglak building in Poznan. DPPA Legal Grzonek Swidnicki advised the landlords on the deal.

Nestor Nestor Diculescu Kingston Petersen has advised Marcos Provit on its EUR 8.5 million cross-border corporate bond issuance through a private placement under the coordination of CVI Dom Maklerski. Wolf Theiss advised CVI.

Deloitte Romania’s Reff & Associates has advised Roca Industry on its EUR 14 million acquisition of Dial. Domokos Partners advised the seller.

Stratulat Albulescu has advised Catalyst Romania Fund II on its participation in the EUR 2 million equity funding round of EdTech platform Adservio.

The truth is rarely pure and never simple. But in the case of Russia's military operation in Ukraine, it just might be. Russia breached Article 2(4) of the UN Charter, which prohibits the use of force against the territorial integrity or political independence of any state. Russia's acts have prompted the EU, the UK and the US to impose economic sanctions, such as freezing assets and disconnecting Russian banks from the SWIFT international payments network. Whilst the number of private businesses that are halting their activities in Russia is steadily growing, Russia has adopted a law paving the way for expropriations of assets of foreign firms that leave the country following economic sanctions. But what can foreign companies do if Russia proceeds to take their assets, if they are unable to freely transfer returns from investments out of Russia or if their profits collapse?

Baker McKenzie and DLA Piper have joined the plethora of firms announcing their exit from the Russian market.

Debevoise & Plimpton, Dentons, Dechert, and CMS have announced they are closing their Russian offices and exiting the market.

Serbian Personal Income Tax Law and Serbian Corporate Income Tax Law, as well as the Serbian Law on Mandatory Social Insurance Contributions, prescribe tax and social insurance contributions related reliefs for companies that conduct activities of research and development in the Republic of Serbia.

Doklestic Repic & Gajin has advised Beijing New Building Materials Plc on the transaction with the Coal Mine and Thermal Power Plant Ugljevik for the creation of a EUR 50 million gypsum board joint venture. China's Shihui Partners reportedly advised BNBM on the deal as well.

More countries, that have, until recently, been considered the pandemic’s epicenter, are easing COVID restrictions. Serbia takes the same direction and cancels majority of COVID-19 related restrictive measures.

Taylor Wessing has represented Slovakia's President Zuzana Caputova in a libel dispute with Member of Parliament Lubos Blaha.

The potential EU ban on Russian oil and gas, the Penta Investments split, and the new construction law in Slovakia are currently the major debate, the biggest transaction, and the greatest legal update, respectively, according to Taylor Wessing Partner Jan Lazur.

Clifford Chance has advised the Green Group on a EUR 127 million financing from a syndicate of banks. Filip & Company advised the lenders. Linklaters reportedly advised the lenders.

BDK Advokati has advised the sellers on the sale of Termoplast Grupa to Greiner Packaging. Divjak Topic Bahtijarevic & Krka and Selih & Partnerji reportedly advised the sellers as well.

The Financial Administration of the Republic of Slovenia (Tax Authority) had already issued its first extensive guidelines regarding cryptocurrency taxation in 2017. According to the guidelines, capital gains generated from trading in virtual currencies by a natural person outside the scope of performing a business activity are not subject to personal income tax (PIT). Nevertheless, any income generated by a natural person as part of a business or entrepreneurial activity associated with cryptocurrencies is taxable.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

Over the recent years, digitalisation and digital services have been at the core of many innovative advantages for businesses and end users alike. These benefits range from online intermediation services to software application stores. This variety offers better and more efficient choices for users while increasing competition within the digital markets industry.

Dentons’ Turkey affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised on Suwen Tekstil's TRY 425.5 million IPO.

Former Arzinger Law Office Partner Anna Zorya has joined Rymarz Zdort as Partner. She is joined by former Arzinger Associate Viktoriia Dobrynska.

Baker McKenzie has contributed to the completion of Parts I and II of the European Commission questionnaire regarding Ukraine's application for European Union membership.

On 14 April 2022, the Civil Cassation Court of the Supreme Court issued its judgement in case No. 308/9708/19 (“Judgement”). The Judgement establishes that national courts have jurisdiction over claims for compensation of damage caused to individuals by military actions of the Russian Federation.