As part of the broader effort to harmonise national legislation with the EU General Data Protection Regulation, the Albanian Data Protection Commissioner issued Instruction No. 2, dated 30 April 2025 (Instruction No. 2), on the protection of personal data in the health sector. This Instruction repeals the previous 2020 framework and establishes a comprehensive set of rules governing the collection, use, and disclosure of health and genetic data.

The Bank of Albania has introduced a new regulatory framework on marketing and advertising by financial institutions, significantly enhancing consumer protection and transparency in the financial sector. The changes, enacted through Decision No. 11, dated 5 February 2025, amend the Regulation “On Transparency for Banking and Financial Products and Services” and enter into force on 1 May 2025.

Big law firms can coast on boring slogans. They’ve got the clout, the infrastructure, and the impressive list of past clients to do the talking. But if you’re a smaller firm and your website sounds like everyone else’s, you are disappearing into the beige background of legal marketing noise.

Schoenherr and Cerha Hempel have advised OMV on global regulatory filings, including merger control procedures before the European Commission and national competition authorities, related to the combination of OMV subsidiary Borealis, ADNOC subsidiary Borouge, and NOVA Chemicals. White & Case's Dubai office reportedly advised OMV as well. Freshfields, Gibson Dunn & Crutcher, and Latham & Watkins reportedly advised ADNOC.

E+H has advised Munich-based investment firm VTC on its acquisition of NBG Group from NBG Bauer as part of a broader succession plan. Hasch & Partner advised NBG Bauer. DKFE Attorneys at Law acted as one of the trustees and also advised the other trustee, acting for the financing banks’ syndicate. BPV Huegel reportedly advised NBG Group.

CMS has advised Bruker Corporation on its acquisition of Biocrates Life Sciences.

Contributed by Arzinger

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

Gecic Law has successfully represented Arena Channels Group, alongside BH Telecom and Mtel Banja Luka, in an antitrust dispute before the Court of Bosnia and Herzegovina. 

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around, we asked: For 2025, what is the one sector or industry in the country that shows the most promise for growth, and why?

Big law firms can coast on boring slogans. They’ve got the clout, the infrastructure, and the impressive list of past clients to do the talking. But if you’re a smaller firm and your website sounds like everyone else’s, you are disappearing into the beige background of legal marketing noise.

Lenders under foreign law credit arrangements subjected to the competence of English or other non-EEA courts – whose judgments (as opposed to those from EEA courts) are not automatically recognised or enforced in Bulgaria – often seek separate guarantees, allowing them to directly sue Bulgarian guarantors (e.g. wealthy domestic subsidiaries of multinational borrowers) in Bulgaria and obtain local court injunctions. Using the typical Bulgarian law guarantee arrangements subjected to the competence of Bulgarian courts in such cases is problematic.

Allen Overy Shearman Sterling has advised Citigroup Global Markets Europe, Goldman Sachs Bank Europe, and J.P. Morgan as joint bookrunners and joint lead managers, as well as The Law Debenture Trust Corporation as trustee, on the EUR 700 million issuance of 8% senior guaranteed green notes by Energo-Pro. Tsvetkova Bebov & Partners, member of Eversheds Sutherland, advised the issuer. BLC Law Office and White & Case and its Turkish affiliate law firm GKC Partners reportedly advised the issuer and guarantors. Boyanov & Co and, reportedly, BGI Advisory Services advised the joint bookrunners, the joint lead managers, and the trustee as well.

Kinstellar has advised First Big Orange Garden on its acquisition of the FairPlay Business Hub from Fairplay International. Jordanov, Ignatov & Ivanov reportedly advised Fairplay International.

The intersection of law and emerging technologies has kept the TMT team at MGG Law Office exceptionally busy, with a sharp focus on AI, machine learning, and their commercial applications. Partner Dino Gliha says the practice has been driven by both the rapid pace of innovation and a fluid regulatory landscape that’s forcing businesses to proactively rethink compliance, governance, and strategic planning.

Croatia’s transactional and legal landscape is heating up, with a strong pre-summer push across multiple sectors and a growing alignment with international standards, according to Gospic Plazina Stojs Partner Matea Gospic Plazina, who reports that this environment is driving fresh momentum in capital markets, M&A, and the increasingly layered world of family wealth management.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

The so-called “flexinovela” amendment of the Labour Code (CZ) effective from 1 June 2025 brings a number of fundamental changes, especially in terminating employment. For employers intending to issue a notice to an employee for breach of duty or to terminate employment immediately, the statutory time limits for doing so have been extended. This amendment addresses the practical needs of employers who have previously struggled to thoroughly investigate cases within the existing time frames. In this post, we will take a closer look at these revised time limits for issuing notices and immediate terminations. Generally speaking - what kind of time limits do we have and why are they important

White & Case has advised CEZ Group on the issuance of EUR 750 million in 4.125% sustainability-linked notes due in 2033, under the company’s updated EUR 8 billion EMTN program with CaixaBank, Citigroup Global Markets Europe, Intesa Sanpaolo, Raiffeisen Bank International, SMBC Bank EU, Societe Generale, and UniCredit Bank as the joint lead managers and PKO Bank Polski as co-manager. Dentons advised the banks.

Kocian, Solc, Balastik has advised J&T on the launch of a bond issuance program for the EMMA Capital investment group. White & Case reportedly advised EMMA Capital.

In June 2025, Bernitsas announced that China State Grid's EUR 62 million acquisition of a 20% stake in Ariadne Interconnection (as reported by CEE Legal Matters on November 28, 2024) has now closed.

Kyriakides Georgopoulos has advised Piraeus Bank as the listing advisor on the EUR 68.3 million share capital increase of Europe Holdings.

Zepos & Yannopoulos has advised Procureship on an investment from True Wind Capital.

According to a government decree issued on 5 June 2025, the annual rebate amount to be deposited to the collection account for supporting Hungarian film productions increases from HUF 69 billion to HUF 81 billion in 2025. The rebate remains unchanged at 30%, however, an annual cap of HUF 407 billion for new registrations has also been introduced.

Oppenheim has advised MagNet Bank on the acquisition of a controlling participation in Polgari Bank. Gardos, Mosonyi, Tomori advised the sellers.

Diverse trends, selective focuses and energy-efficient solutions will define the real estate market in 2025, according to DLA Piper Hungary's annual real estate intelligence report. Here is a summary of some of the key trends featured in the Hungarian Real Estate Intelligence Report. 

Pohla & Hallmagi has successfully represented Rein Valk and Luite Arendus OU before the Civil Chamber of the Supreme Court of Estonia against Harju Infra OU in a case concerning limitation periods applicable to claims between companies and shareholders.

TGS Baltic has advised Lendurai on a EUR 5.5 million investment round led by Expeditions Fund, HCVC, and Vsquared Ventures. Ellex advised the investors.

Cobalt has promoted former Managing Associate Rauno Ligi to Partner.

Kosovo is in political limbo after the February elections, with stalled government formation affecting key decisions, according to Ardian Rexha, an Attorney at Law associated with Deloitte Kosova. At the same time, energy reforms and price hikes by the regulator are causing strong reactions from businesses and the public.

Kosovo is accelerating its energy transition, SEPA integration, and corporate transparency, aligning with EU standards to boost investment, competition, and economic stability, according to Nallbani Law Office Managing Partner Delvina Nallbani.

On the evening of April 1, 2025, the Deal of the Year Awards Banquet brought together, under the same roof, over 200 top-tier lawyers from Central and Eastern Europe's leading law firms and General Counsel from across the region in Prague.

Sorainen has advised Activate Capital on its investment in Aerones as part of a USD 62 million round. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo reportedly advised Activate Capital as well.

TGS Baltic has successfully represented LDZ Cargo and its parent company in overturning a EUR 5.7 million fine imposed by the Latvian Competition Council for alleged abuse of dominant position in the rail freight sector.

Cobalt has advised Rigas Udens on its EUR 20 million European Green Bond issuance and admission to trading on the Nasdaq Baltic Bond List with Signet Bank as the bond program arranger and dealer.

Sorainen has successfully represented Gintarine Vaistine and Limedika in an antitrust case before Lithuanian courts, resulting in the annulment of over EUR 25 million in cartel fines imposed by the Lithuanian Competition Council.

Cytowski & Partners and Motieka & Audzevicius have advised Lithuania-based SintraAi on its USD 17 million seed financing round, which saw the participation from Earlybird Ventures, Inovo VC, Practice Capital, and several angel investors from Silicon Valley and Central and Eastern Europe. Goodwin reportedly advised Earlybird Ventures. 

Sorainen has advised UAB Sostines Bokstai on the launch of the sixth tranche of its bond issue. 

On May 21, 2025, the new Energy Law was published in the Official Gazette of the Republic of North Macedonia, adopted by the North Macedonia Assembly on May 14. This systemic and reform-oriented law marks a pivotal step in the transformation of the national energy sector, aligning it with European standards, sustainable development goals, and consumer protection principles.

In a progressive move towards formalising seasonal and occasional work, the Assembly of North Macedonia has adopted a groundbreaking law to regulate temporary employment across key sectors. This legislative development aims to streamline the hiring process for temporary workers while ensuring they receive essential social security benefits.

Starting from 29 May 2025 a new Energy Law starts to apply in North Macedonia. This new regulatory framework serves for transposition of the Clean Energy Package into the national legislation and introducing major novelties, such as new development process for energy generation and storage capacities, integration of e-mobility to the electricity grid, additional possibilities for development of natural gas and heating networks, etc.

On 17 March 2025, a new Regulation of the Moldovan Competition Council (the "MCC") on Economic Concentrations (the "New EC Regulation") entered into force in Moldova (as secondary legislation). It introduces several key changes aimed at enhancing the enforcement of competition legislation and increasing transparency. The New EC Regulation transposes several European Union regulations, including the Commission Implementing Regulation (EU) 2023/914 of 20 April 2023 and the Commission Notice on a simplified treatment for certain concentrations 2023/C 160/01.

On 22 April 2025, Law No. 66/2025 on combating delayed performance of payment obligations in contracts between professionals or between professionals and public authorities was published ("Law No. 66").

Big law firms can coast on boring slogans. They’ve got the clout, the infrastructure, and the impressive list of past clients to do the talking. But if you’re a smaller firm and your website sounds like everyone else’s, you are disappearing into the beige background of legal marketing noise.

Injac Attorneys has advised Build Your Dreams on its market entry into Serbia and Montenegro.

JPM Partners has advised MFI Flex Credit on obtaining a license to operate as a microcredit financial institution from the Central Bank of Montenegro.

PPPs represent a long-term collaboration between the public and private sectors, enabling more efficient construction, maintenance, and management of infrastructure, with an optimal distribution of risks and financial obligations.

Greenberg Traurig has advised Santander Consumer Finance on its acquisition of 60% of the shares in Santander Consumer Bank from Santander Bank Polska in a deal valued at PLN 3.1 billion.

Norton Rose Fulbright has advised LOT Polish Airlines on its purchase agreement with Airbus Canada for the acquisition of up to 84 Airbus A220 aircraft, comprising 40 firm orders and options and purchase rights for an additional 44 aircraft.

Greenberg Traurig has advised the CCC Group on its debt refinancing involving the early redemption of Modivo bonds previously acquired by Softbank, financed through a term loan granted by UniCredit. Clifford Chance reportedly advised Softbank. White & Case reportedly advised UniCredit.

Filip & Company has advised Sameday on its acquisition of Cargus. RTPR advised MidEuropa on the sell-side.

In a globally connected creative landscape, where authors collaborate across borders and works circulate digitally with unprecedented speed, the protection of moral rights (personality rights of the author) becomes increasingly relevant. Today’s digital environment enables the rapid creation, distribution, and transformation of literary, musical, visual, and audiovisual works. As companies increasingly rely on creative content, it becomes essential to address moral rights - especially the rights of authorship and integrity - in agreements.

Heightened institutional scrutiny and evolving enforcement have kept Popescu & Asociatii's white-collar practice exceptionally busy, with EU-fund mandates, tax-evasion probes, and cybercrime cases leading the charge, according to Partner Adrian Chirvase.

Contributed by Clifford Chance.

Contributed by Alrud.

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

The National Bank of Serbia (“NBS”) adopted the new Decision on the Minimum Requirement for Capital and Eligible Liabilities of a Bank (“New MREL Decision”), as part of a package of new or amended bylaws following the latest amendments to the Law on Banks. The New MREL Decision shall replace the existing decision of the same name (“Existing MREL Decision”) and shall apply starting from 1 October 2025.

Injac Attorneys has advised Build Your Dreams on its market entry into Serbia and Montenegro.

Vukovic & Partners Firm has advised JCG on its acquisition of Tivao Sub Properties from Atlas E75. VN Legal reportedly advised Atlas E75.

Kinstellar has advised Accolade Holding on its acquisition of a 21,600-square-meter logistics facility in Kosice, eastern Slovakia. Hillbridges reportedly advised the sellers.

The Ministry of Justice of the Slovak Republic recently presented a draft of a new legislation governing the Slovak Commercial Register, amending the Slovak Commercial Code and other acts (New Legislation).

Kocian, Solc, Balastik has advised J&T on the launch of a bond issuance program for the EMMA Capital investment group. White & Case reportedly advised EMMA Capital.

Slovenia’s dynamic political environment is keeping the legal market on its toes, with pressing developments in taxation, employment law, cybersecurity, capital markets, and infrastructure all demanding close attention, according to Peterka Partners Senior Associate and Head of Slovenian office Pia Florjancic Pozeg Vancas.

Sibincic, Novak & Partners and Doklestic, Repic & Gajin have advised Intersport ISI on its exit from the Serbian market via the sale of its stores to N Sport. Mrakovic, Markovic & Partners advised N Sport.

Ljubljana, the capital of Slovenia, is currently witnessing a substantial increase in the development of Class A office spaces. Over the next three years, the city is set to introduce more than 100,000 square meters of new Class A office spaces. These developments are characterized by modern designs and a strong emphasis on sustainability, aiming to achieve energy certifications that are crucial for ESG compliance.

Kolcuoglu Demirkan Kocakli has advised BMS Group on its acquisition of Oria Sigorta. Norton Rose Fulbright's affiliate law firm of Pekin Bayar Mizrahi advised Oria Sigorta.

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.

Interim attachment is a provisional remedy under the Enforcement and Bankruptcy Law No. 2004 [the “EBL”] which individuals or legal entities can request for their monetary claims. Thanks to this institution, the debtor’s assets could be frozen to secure due yet unsecured debts, and as a result, the debtor would be forced to pay its debt.

The intersection of law and emerging technologies has kept the TMT team at MGG Law Office exceptionally busy, with a sharp focus on AI, machine learning, and their commercial applications. Partner Dino Gliha says the practice has been driven by both the rapid pace of innovation and a fluid regulatory landscape that’s forcing businesses to proactively rethink compliance, governance, and strategic planning.

Redcliffe Partners’ competition practice is driven by increased enforcement and transactional activities, particularly in sectors like pharmaceuticals, retail, and agribusiness, according to Co-Head of Competition Yuriy Terentyev. Key factors include regulatory changes, strategic investments, and Ukraine's alignment with EU competition law, which have spurred demand for merger control assessments and compliance advice.

Digest of recent legislative developments in the fields of energy and natural resources.