Former Rymarz Zdort Partner Marcin Iwaniszyn has joined Baker McKenzie’s Warsaw office as a Partner and Head of its Banking & Finance practice.
Exploring The Decrease in the Number of Ranked Firms in Ukraine
According to the CEE Legal Matters CEE By The Numbers report, between 2019 and 2021, Ukraine saw a large decrease in the number of ranked law firms and lawyers at ranked firms. While in 2019 the number of Ukrainian law firms ranked by Chambers & Partners and Legal 500 was 95, in 2021 the same number decreased to 69. Similarly, the number of ranked-firm lawyers decreased from 1,579 in 2019 to 1,338 in 2021. The decreasing trend is particularly visible in comparison to other CEE countries.
Baker McKenzie Advises Datwyler on QSR Group Acquisition
Baker McKenzie has advised Datwyler on its acquisition of the QSR Group from Q Holding and 3i. Kirkland & Ellis reportedly advised the sellers.
Severing Russian Ties: Baker McKenzie and DLA Piper Announce Russian Exit
Baker McKenzie and DLA Piper have joined the plethora of firms announcing their exit from the Russian market.
Austria: Green and Sustainability-Linked Loans – Win-Win Situation for Companies?
Back in 2007, the foundation for sustainable financing was set through the issuance of a green Climate Awareness Bond by the European Investment Bank. This was in part due to the increased awareness of climate change. By June 2022, Austria wants to issue its first Green Bond. Possible investments for the Green Bond are public transport and renewable energy. Aside from bonds, sustainable financing can be concluded in several other product forms, such as guarantee lines, as well as classic bank loans. The volume of sustainable syndicated bank loans reached EUR 200 billion for the first time, last year.
The Buzz in Turkey: Interview with Caner Elmas of Esin Attorney Partnership
The currency fluctuations in Turkey have resulted in challenges but have also created opportunities for investment in the country, according to Esin Attorney Partnership Partner Caner Elmas.
Employment Considerations in a COVID-19 World: A Hungarian Round Table
On October 7, six leading labor lawyers in Hungary sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea. The conversation focused on the current state of affairs of labor regulations in Hungary and their evolution over the pandemic-marked last few months.
Exploring the Ramifications of the Hungarian “Anti-LGBTQ+ Law” on Businesses
On June 15, 2021, Hungary passed legislation that bans the dissemination of content in schools deemed to promote homosexuality and gender change. Dubbed by many as simply the “Anti-LGBTQ+ Law,” it has wide-ranging implications – even leaving social issues / social impact aside. CEE Legal Matters spoke with several Hungarian lawyers to discuss the law’s business implications and the impact it had on law firms’ work.
New Case Law Sheds Light on Requirements Regarding Promotional Activities of Pharmaceutical Companies in Hungary
Recently published case law from Hungary’s National Institute of Pharmacy and Nutrition – the Hungarian acronym is OGYEI – deals with various aspects of pharmaceutical promotional activities and interactions with health care providers. The OGYEI investigated the commercial practices of Aramis Pharma Kft., Lilly Hungaria Kft., and Sager Pharma Kft., and imposed fines following the discovery of infringements.
2021 to Further Digitalize Tax Authority Interactions with Hungarian VAT Taxpayers
Reflecting the Hungarian tax administration’s nature as a pioneer in innovative tax administration measures, 2021 brings significant eVAT developments in Hungary.
Inside Out: Wordline’s Acquisition of GoPay
On September 24, 2020, CEE Legal Matters reported that Baker McKenzie’s Prague office had advised Worldline SA/NV on its acquisition of a 53% of stake in GoPay. JSK and Urban & Hejduk advised the sellers on the deal, Pavel Schwarz Jr. and BUDEX Direct.
Poland: The Polish Competition Authority Becomes Both Merger Control and Foreign Investment Restrictions Watchdog
The amendment to the Act on the Control of Certain Investments (the “Act”) that came into effect on July 24, 2020 has vested the President of the Office of Competition and Consumer Protection – the UOKIK – with broad new powers. The new rules are temporary and will be in force for 24 months. On July 21, 2020, the UOKIK issued 50-page long, detailed procedural guidelines, which unfortunately are not available in English.
Poland: Challenges for Life Sciences Lawyers in the Time of Coronavirus
All European countries are now facing the SARS-CoV-2 pandemic and each state is undertaking different measures to limit the spread of the virus. Recently, the Polish government has extended the so-called “export ban list” – a list of, in particular, medicinal products and medical devices the export or sale of which abroad may be subject to the objection of the Chief Pharmaceutical Inspector. This list grew by over a thousand items in the past month and has changed from a list of products subject to parallel export due to price differences to a list of products that we want to keep in Poland. Also, the President of the Office for Registration has asked pharmaceutical companies to consider launching clinical trials in these unique circumstances.
Introducing “Horizontal Monitoring” in Austria
A specific form of cooperation was introduced in Austria in 2018 and will become effective on January 1, 2019: Upon the taxpayer’s request, an enterprise may opt for a “horizontal monitoring” procedure. This new law was introduced after a pilot project in which internationally renowned enterprises such as Red Bull, Shell Austria, and Infineon Technologies participated (although whether these enterprises will also participate in the new “horizontal monitoring” procedure is not yet known).
New Guidance on Transaction Value Threshold
On July 9, 2018, the German and Austrian competition authorities published joint guidelines regarding the transaction value thresholds of their respective merger regimes.
The Record-Breaking Era of the Polish Real Estate Sector
The commercial real estate market in Poland continues to be on a growth path. In 2017, the market recorded high demand in all major asset classes, breaking records in the hotel and warehouse sectors. The total value of transactions is growing consistently, and in 2017 it reached EUR 5.1 billion – the highest level in the history of the Polish market.
Saving the Snitch: Increasing Whistle-Blower Protection in Poland
Against the backdrop of the many significant and at times highly controversial changes being made to Polish law at the moment, the country is close to enacting its first ever serious whistleblower protection laws. What will this protection look like, and what does its passage mean for Poland?
Deal of the Year Awards Banquet
After a valuable and information-rich day of panel discussions on important business development and law firm management topics, participants reconvened that evening (and were joined by several dozen newcomers) at the first ever CEE Legal Matters Annual Banquet and Deal of the Year Awards Ceremony – a celebration of CEE’s legal markets and the lawyers who work within them. Awards were presented for 17 qualifying markets in CEE – plus a surprise award for overall CEE Deal of the Year – with many of the lawyers playing key roles in nominated deals joining the celebration.