CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Employers often find themselves contemplating whether they should disclose the reasons for an employee’s termination to the entire workforce. While the motivations behind this consideration can be well-intentioned – such as educating remaining employees about unacceptable behaviors, promoting transparency, and preventing the spread of misinformation, there are legal implications to take into account.
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.
Companies will have an additional year to comply with new EU rules aimed at preventing deforestation, which will prohibit the sale of products in the EU that originate from deforested land
The European Parliament and the Council of the EU have decided to postpone the application of the European Union Deforestation Regulation (EUDR) by one year, now taking effect on 30 December 2025 instead of the original 2024 deadline. The decision comes in response to concerns raised by EU member states and stakeholders about the feasibility of meeting the requirements within the initial timeframe.
Labor shortages have emerged as a pressing issue across CEE, prompting diverse responses from governments, businesses, and the public as they navigate the challenges of workforce gaps and economic sustainability.
A set of two measures aimed at reducing state subsidies for renewable energy sources has been approved by the lower house of Parliament in the Czech Republic on 11 December 2024. These changes, proposed through amendments to the Act on Promoted Sources (the “RES Act”) and the Energy Act, specifically target solar power plants with a capacity of more than 30 kW that were connected in 2009 and 2010.
Wolf Theiss has advised Strabag Property and Facility Services on its acquisition of B2 Assets from Dusan Bocek. Dolezal & Partners advised the seller.
Wolf Theiss has advised Posella Limited and Pale Fire Capital on their acquisition of Fly.pl from Grzegorz Bosowski.
Wolf Theiss has advised Banca Comerciala Romana on a EUR 29.5 million credit facility granted to Unirii View. Tuca, Zbarcea & Associates advised Unirii View.
The Romanian Company Law no. 31/1990 has been amended through the recent Law no. 299/2024 to better align with technological developments and the evolving needs of the business landscape. Notably, a key update is enabling remote (online) attendance and electronic voting in general shareholder meetings, among other relevant revisions.
On December 6, 2024, Kinstellar announced that UEG's acquisition of the 250-megawatt Simeonovgrad-Polyanovo PV project (as reported by CEE Legal Matters on April 10, 2024) has now closed.
Factoring has emerged as an essential financial solution for businesses in Hungary, offering a fast and flexible way to maintain cash flow and bridge liquidity gaps, especially for those with extended payment terms in sectors like agriculture, manufacturing and logistics. However, navigating Hungary’s complex regulatory landscape can pose challenges for companies seeking to use factoring to its fullest potential. With options like silent factoring available to help preserve client relationships and a need for thorough understanding of local laws, businesses can benefit significantly from a strategic approach. This article explores the advantages of factoring in Hungary, along with key regulatory considerations to ensure compliance and stability in companies’ financial operations.
Wolf Theiss has advised Raiffeisen Bank International on the issuance of EUR 650 million fixed to reset rate additional tier 1 notes and on its tender offer for the repurchase of EUR 650 million fixed to reset rate additional tier 1 notes issued in 2017. Freshfields Bruckhaus Derringer reportedly advised the banks.
On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.
Kondracki Celej has advised FibriTech on an investment from the European Innovation Council and SMEs Executive Agency fund. Wolf Theiss reportedly advised EIC.
Wolf Theiss has advised joint lead managers and bookrunners Raiffeisen Bank International and M.M.Warburg & Co on the exchange offer of bonds issued by UBM Development in 2019 and 2021 and on the subsequent cash subscription offer of the EUR 93 million 7% green bond 2024-2029. DLA Piper advised UBM Development.
Wolf Theiss has advised Veroniki Holding on the sale of Propangas to Doppler Beteiligungs.
Brandl Talos has advised DirectSens on the sale of its LactoSens biosensor technology to Kerry Group. Wolf Theiss reportedly advised Kerry Group.
Wolf Theiss has advised joint lead managers Deutsche Bank, Hypo Noe Landesbank fur Niederoesterreich and Wien, and Raiffeisen Bank International on the Federal State of Lower Austria's issuance of EUR 500 million sustainable 3.125% bearer bonds 2024-2036. Fellner Wratzfeld & Partner reportedly advised the Federal State of Lower Austria.
With over 360 lawyers in 13 countries, over 80% of the firm’s work involves cross-border representation of international clients. We have concentrated our energies on a unique part of the world: the complex, fast-developing markets of the CEE/SEE region. Through our international network of offices, we work closely with our clients to develop innovate solutions that integrate legal, financial, and business know-how.
Wolf Theiss provides fully integrated corporate services in mergers and acquisitions, private equity, real estate, banking and finance, tax and insurance, employment law, competition law, energy law, privatisation, restructuring, public procurement and litigation. At Wolf Theiss, we measure our success by the success of our clients. We align our goals with yours to ensure that your needs are being met in even the most complex of cross-border matters. This means that we know how to listen to you and help you use the assets you already have while finding opportunities.
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