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Partos & Noblet Hogan Lovells has advised the Vajda Papir Group on its HUF 22 billion syndicated loan arrangement with a Hungarian bank syndicate consisting of OTP Bank, UniCredit Bank Hungary, Eximbank, and the Hungarian Development Bank for project finance and general corporate purposes. The lenders were advised by CMS Budapest.

PeliFilip, working alongside Linklaters, has assisted Romania's Ministry of Public Finance in a Eurobonds issue which attracted EUR 1 billion from international markets, through the re-opening of an April 2017 issue, with a maturity of 10 years and a coupon of 2.375%.

Ilyashev & Partners is representing the Ukrainian State Strategic Enterprise “Antonov,” which on October 12, 2017, filed a motion in the Sviatoshynskyi District Court of Kyiv for enforcement of a judgment delivered by the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry awarding more than UAH 32 million to Antonov from the Libyan Executive Authority for Special Flights.  

WKB Wiercinski, Kwiecinski, Baehr has assisted Nokia Solutions and Networks sp. z o.o. in negotiating and entering into an agreement with PHN Capital Group for the lease of new office space. The agreement was executed on October 2, 2017.

Goltsblat BLP has advised PJSC MTS, a prominent telecommunications provider in Russia, on its acquisition of a controlling stake (50.82%) in the Russian retail software developer Oblachny Retail LLC, which operated under the LiteBox brand.

TGS Baltic has represented BaltCap Infrastructure Fund on the entrance into a EUR 16 million engineering, procurement and construction contract with Axis Technologies to develop a biomass plant in Vilnius.

Wolf Theiss has advised the largest Chinese producer of SUVs, the Great Wall Motor Company, on its creation of an Austrian subsidiary.

Egorov Puginsky Afanasiev & Partners has defended Total in a multi-billion-dollar dispute with the administrations of Russia's Volgograd and Saratov regions before ad hoc arbitrators in accordance with the UNCITRAL Arbitration Rules.

Vasil Kisil & Partners has successfully represented the interests of Imperial Tobacco Production Ukraine in a dispute with Ukrainian tax authorities.

Linklaters has announced the appointment of former Herbert Smith Freehills Partner Vladimir Melnikov as Partner and Head of the Moscow Dispute Resolution practice. 

Oana Ijdelea and Anca Mihailescu are joining forces to launch a new full-service law firm in Bucharest — Ijdelea Mihailescu, Attorneys & Advisors — with a particular focus on energy & natural resources, M&A, environmental law, and real estate & construction.

Russia's Danilov & Konradi law firm has announced that Lyudmila Merkulova has joined the firm as a partner and the head of the tax and forex regulation practice.

On October 12, Olga Balytska joined PwC Legal in Ukraine as Head of the firm’s Real Estate practice.

Former CMS Partner Malgorzata Chrusciak has joined Ernst & Young Law in Warsaw as an Of Counsel, focusing on — in her words — "strengthening and developing EY's regulatory practice for financial institutions."

Gokce Turkoglu has joined Deloitte Turkey as its new General Counsel.

Polish lawyer Bernadeta Kasztelan-Swietlik has joined Gessel as a partner and head of Competition Law.

Polish lawyers Arwid Mednis and Gerard Karp have moved from Wierzbowski Eversheds Sutherland to join PwC Legal in Warsaw.

Istvan Pozsgay has joined the Insurance practice of CMS as Of Counsel.

The National Bank of Ukraine (the "NBU") has significantly simplified its rules for attracting cross-border loans by Ukrainian borrowers from international financial institutions ("IFI"), such as, among others, the European Bank for Reconstruction and Development and International Finance Corporation.

Several changes can be foreseen in the bill of the new Act on the Rules of Taxation that has recently been published by the Hungarian Ministry of National Economy.

NAFA issued the order 23/2017 published in the Official Gazette no. 706 of 31.08.2017 regulating the split payment of VAT. 

One of the new possibilities introduced by the new Serbian General Administrative Procedure Act is an administrative guarantee.  It is a statement issued by an authority that it will issue an administrative act at the request of a party.  By issuing an administrative guarantee, the authority guarantees that the act issued will have a precisely defined content.

On 22 September 2017 the public debate on the proposed amendments to the Serbian Companies Act (hereinafter: the “Act“) was initiated.  The changes of the Act are expected to create conditions for further development of the concept of e-government, and are mainly focused on expediting the process of company registration and creating space for further europeanization of business environment in Serbia upon accession to the EU.

On its way to becoming a Member State of the European Union, Serbia undertook the obligation to implement the fundamental EU principles into its legal system by entering into the Stabilization and Association Agreement (the “SAA”).

The regulation on takaful (risk-sharing) insurance products is underway and expected to enter into force before the year-end.

The international law firm Debevoise & Plimpton LLP presents a brief overview of the most significant developments in Russian legal regulation (including legislative initiatives) and court practice in the real estate, construction and infrastructure sectors in the first half of 2017.

The Constitutional Court of Hungary made a decision in July 2017 that the provisions concerning the applicability of tax registration procedure do not infringe the principle of non-retroactivity.

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Martin Simovart, Partner and Head of Global Relations at Cobalt in Estonia, is fairly confident about the state of affairs in his country at the moment. “For the first half of the year we saw what we actually predicted — about a five percent rise in GDP — and I hope it’s going to continue. The momentum is there, and I don’t see any indicators that it’s going to slow down. And the overall feeling is fairly positive.”

Martin Simovart, Partner and Head of Global Relations at Cobalt in Estonia, is fairly confident about the state of affairs in his country at the moment. “For the first half of the year we saw what we actually predicted — about a five percent rise in GDP — and I hope it’s going to continue. The momentum is there, and I don’t see any indicators that it’s going to slow down. And the overall feeling is fairly positive.”

We are now only two days away from the Hungary General Counsel Summit. CEE Legal Matters spoke with Erika Papp, Partner and Head of Banking and International Finance, Hungary with CMS, one of the sponsors of the conference to hear her thoughts on the upcoming event. 

On August 8, 2017, CEELM reported that Cerha Hempel Spiegelfeld Hlawati had advised red-stars.com in connection with its acquisition of 25% of the shares of ecosio GmbH. We reached out to Red Star’s CEO, Thomas Streimelweger, for more information about the deal.