On January 22, 2024, Vernon David announced that Victoriabank’s acquisition of the BCR Chisinau subsidiary (reported by CEE Legal Matters on April 7, 2023) had closed.
Closing: Victoriabank Acquisition of BCR’s Chisinau Subsidiary Now Closed
Dentons Advises Santander Bank Polska and BNP Paribas Bank Polska on Financing Nowel Development
Dentons has advised Santander Bank Polska and BNP Paribas Bank Polska on granting a PLN 408 million financing to Nowel. Clifford Chance reportedly advised Nowel.
Asters Advises Export Credit Agency of Ukraine on Launching Novel War Risk Insurance Mechanism
Asters, working with Brodies LLP, has advised the Export Credit Agency of Ukraine on developing a new war risk insurance mechanism for the international export of Ukrainian goods through the Black Sea. Watson Farley & Williams reportedly advised the Ministry of Economy of Ukraine. Norton Rose Fulbright reportedly advised arranger Marsh Limited.
Dentons Advises on PLN 335 Million Financing for Nozdrzec Wind Farm
Dentons has advised sponsor Yevulei Shemesh Renewable Energy Group the PLN 335 million financing extended by mBank and the EBRD for the construction and operation of a 48-megawatt onshore wind farm in south-eastern Poland.
Christian Joellinger Joins E+H as Partner in Vienna
Former Freshfields Bruckhaus Deringer Attorney at Law Christian Joellinger has joined E+H in Vienna as a Partner.
How will DORA affect ICT providers?
Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/1011 (“DORA”) contains a number of requirements for ICT service providers, which will become binding on January 17, 2025. Therefore, 2024 will be a year of intensive work on the part of service providers to ensure compliance with the new, demanding regulation.
Important Regulations in Banking Legislation Regarding Risk Groups, Credit Limitations and Credit Operations of Banks
The Regulation on Determination of Risk Groups and Credit Limitations ("Risk Groups Regulation") and the Regulation on Credit Operations of Banks ("Credit Operations Regulation") prepared by the Banking Regulation and Supervision Agency ("BRSA") were published in the Official Gazette dated 21.12.2023. Accordingly, the provisions regarding the determination of risk groups and calculation of credit limits in the Regulation on Credit Operations of Banks dated 1.11.2006 ("Former Regulation") were adapted to the Risk Groups Regulation and detailed regulations on the determination of risk groups were introduced. With the Regulation on Credit Transactions, the Former Regulation dated 1.11.2006 was repealed, and other provisions of the Former Regulation were reviewed and reorganised.
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