Albania’s start to 2025 has been largely shaped by national elections, which have stalled most developments, according to Hoxha, Memi & Hoxha Partner Dorant Ekmekciu. The focus has been on key judicial appointments and ongoing discussions about the independence of the anti-corruption body.

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.

By Implementing Regulation (EU) 2025/1197, published on Friday, 20 June 2025, the European Commission decided to exclude companies from the People’s Republic of China (PRC) from public contracts for medical devices. This applies to contracts with an estimated value of more than five million euros. Furthermore, no more than 50% of the contract value may be passed on to Chinese companies.

Wolf Theiss, working with Clifford Chance, has advised Supernova Invest on the issuance of EUR 550 million senior notes due 2030. Linklaters and Schoenherr reportedly advised the bank syndicate involved.

Schoenherr has advised the shareholders of Timeular on the sale of the company to Graz-based software provider TimeTac.

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.

Schoenherr has advised Exadel on its acquisition of the IT business of Anthill. Tzvetkova, Tzvetkov & Dobreva advised Anthill.

Given the growth of the Bulgarian pharmaceutical retail sector, it is essential to understand the legal framework governing the operation of pharmacies, drugstores, cosmetics counters and optical retailers. Each of these types of businesses is subject to specific regulatory requirements designed to safeguard public health, ensure quality control and maintain compliance with both national and EU legislation.

CMS has advised Solia and Vineli JSCo on the sale of the 100-megawatt Vinely RE photovoltaic project located in General Toshevo municipality, Dobrich region, Bulgaria, to Metka EGN Solar 5.

Wolf Theiss, working with Arendt, has advised Studenac on securing a EUR 300 million loan facility from a consortium of banks led by Bank Pekao and including Powszechny Zaklad Ubezpieczen, OTP Banka, Zagrebacka Banka, and OTP Bank Plc Hungary. DTB and Clifford Chance advised the financial institutions.

Divjak Topic Bahtijarevic & Krka, working with Allen Overy Shearman Sterling, has advised funds and accounts managed by BlackRock and Blue Owl on a USD 520 million senior secured direct lending facility provided to Infobip. Latham & Watkins reportedly advised Infobip.

Schoenherr has advised CRH on its acquisition of the stone materials production business of Croatia’s Kufner Group. Madirazza & Partners advised Kufner Group.

Clifford Chance has advised Ceskoslovenska Obchodni Banka on the project financing for the development and operation of the FVE Saxonie solar power plant.

Kocian Solc Balastik has advised the J&T Group on the launch of a new bond program related to the Europacity Berlin project. 

Elementz Legal has advised Bubblify International on its acquisition of 22 OXO-brand shopping center retail locations in the Czech Republic, Slovakia, and Hungary.

Koutalidis has advised ABO Energy on the sale of ABO Hellas, along with six affiliated entities and a 1.5-gigawatt renewable energy portfolio, to Helleniq Renewables.

Bernitsas has advised the Vivartia Group on the sale of 100% of its shares in Dodoni, held through Nutrico, to Hellenic Dairies.

Bahas, Gramatidis & Partners has promoted George Alexandris to Partner.

Elementz Legal has advised Bubblify International on its acquisition of 22 OXO-brand shopping center retail locations in the Czech Republic, Slovakia, and Hungary.

KCG Partners has promoted Krisztian Kiralyvolgyi as Partner.

The Government of Hungary expects all investments to comply with the strictest environmental standards. Should companies fail to meet these requirements, fines will be imposed under the "polluter pays" principle. The new penalty regulation distinguishes between private individuals, small and medium-sized enterprises (SMEs) and large corporations.

Ellex has advised Baltic venture capital fund Superangel on its investment in Kraken Technology Group.

Sorainen has advised Summus Capital on its EUR 30 million bond issuance.

In April 2007, Estonia made global headlines — not for a military conflict or natural disaster, but for one of the first coordinated large-scale cyberattacks against a nation-state. Sparked by the relocation of a Soviet-era war memorial in Tallinn (known as the Bronze Night), the country’s digital infrastructure was flooded with denial-of-service attacks. Government websites, banks, media outlets, and essential services were knocked offline. It was a wake-up call: digital threats could now paralyze a country just as effectively as tanks and missiles. 

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 Danish Sun Energy on the sale of a large-scale co-located solar and battery energy storage project in Latvia to Sunotec.

Cobalt, working alongside Holland & Knight, has advised Redwire Corporation on its USD 925 million acquisition of Edge Autonomy Intermediate Holdings LLC and its subsidiaries. Richards, Layton & Finger reportedly advised the special committee of the Board of Directors of Redwire. Kirkland & Ellis reportedly advised Edge Autonomy.

Sorainen has advised PurpleGreen Capital on the launch of a new alternative investment fund manager and the establishment of an alternative investment fund headquartered in Latvia, within the EU regulatory framework.

Sorainen, working with Horten, has advised Danish fish product producer A. Espersen and its Lithuanian subsidiary Espersen Lietuva on the sale of a fish processing plant located in the Klaipeda Free Economic Zone to Atlas Premium Lietuva. Cobalt advised Atlas Premium.

Ellex has advised Robinhood on establishing its European hub in Lithuania.

Walless has advised Traxlo on raising EUR 1.6 million in funding to support the expansion of its AI-driven, pay-per-task labor platform across Europe. Tegos reportedly advised Coinvest as the lead investor.

Karanovic & Partners has advised Paysera North Macedonia on obtaining an Electronic Money Institution license.

Foreign direct investment in North Macedonia has surged in recent years, with 2024 marking a particularly strong period for inflows, despite global uncertainties such as supply-chain disruptions and regional economic slowdowns, according to Law Office Lazarov Managing Partner Dragan Lazarov and Cakmakova Advocates Junior Partner Vladimir Bocevski.

IT Labs Group General Counsel and DPO Ana Zakovska discusses her transition from private practice to in-house roles in the ICT sector, the evolving nature of legal work, and how privacy and AI are shaping the industry.

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.

Moldova’s legal landscape is undergoing a period of gradual yet meaningful transformation, according to Balaban & Partners Managing Partner Natalia Balaban who reports an increased reliance on alternative dispute resolution, strides in digitalization, and a wave of legislative reforms tied to the country’s EU accession ambitions.

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.

Kinstellar, working alongside Noerr, has advised Strabag on the Romanian, Croatian, Czech, and Montenegrin aspects of its EUR 100 million acquisition of WTE Wassertechnik from EVN. Freshfields advised EVN.

The Ministry of Economic Development has conducted a public consultation on the draft Law on Class Actions. The primary reason for adopting a special law which regulates matters related to the collective protection of consumers is, above all, the harmonization of Montenegrin legislation with EU law, specifically with Directive (EU) 2020/1828 on representative actions for the protection of the collective interests of consumers and repealing Directive 2009/22/EC. The goal is to prevent and sanction mass violations of consumer rights by traders in the market, while also ensuring fair compensation for harmed consumers. In this text, we briefly present the most important amendments and innovations introduced by the draft Law on Class Actions.

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

Wolf Theiss, working with Arendt, has advised Studenac on securing a EUR 300 million loan facility from a consortium of banks led by Bank Pekao and including Powszechny Zaklad Ubezpieczen, OTP Banka, Zagrebacka Banka, and OTP Bank Plc Hungary. DTB and Clifford Chance advised the financial institutions.

Gessel has advised WPIP Green Energy and Metropolis Doradztwo Gospodarcze on the sale of a biogas plant in Ilowiec Wielki to Galia Green Power.

Soltysinski, Kawecki & Szlezak has advised Axpo Polska on an energy storage services agreement with EDP Renewables.

Tuca Zbarcea & Asociatii has secured the admission of a revision against a final judgment ordering the dissolution of the Bucharest Municipal Football Association, as well as the definitive rejection of the applications for dissolution of the association.

Ijdelea & Associates has successfully represented XL Insurance and Supeco Investment in a litigation proceeding involving property insurance and liability issues, securing a court award of approximately RON 4 million in damages.

Act Legal Romania has advised Pluxee Romania on the acquisition of MyBenefits. Andronic and Partners reportedly advised the sellers.

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. 

Moravcevic Vojnovic and Partners in Cooperation with Schoenherr has advised UniCredit Bank Serbia and Structured Invest on the establishment of UniCredit Invest JSC, a UCITS management company licensed in Serbia.

Kinstellar has advised Banca Intesa on the issuance of collateral-free mini-bonds in Serbia in a transaction valued at RSD 470 million, arranged for Diopta.

NKO Partners has advised Dr Max on its acquisition of Zalfija.

Elementz Legal has advised Bubblify International on its acquisition of 22 OXO-brand shopping center retail locations in the Czech Republic, Slovakia, and Hungary.

Dentons has advised YIT Zwirn 2 – a joint venture between YIT Slovakia and RSJ Investments – on a syndicated loan exceeding EUR 100 million for the financing of Zwirn 2 real estate development in Bratislava. Allen Overy Sherman Sterling reportedly advised the banks.

With the European Parliament recently approving a new draft FDI regulation, significant changes are on the horizon across the EU, and Slovakia is no exception. According to Wolf Theiss Partner Bruno Stefanik, the anticipated updates will impact Slovakia’s national legislation, reshape existing FDI procedures, and offer a timely opportunity to address practical challenges identified since the country’s FDI regime took effect in 2023.

The protection against the termination of employment contracts for disabled workers who still have residual working capacity is guaranteed both by the Employment Relationships Act (ZDR-1) and the Employment Rehabilitation and Employment of Disabled Persons Act (ZZRZI). Despite relatively uniform case law that has developed over the years, two recent rulings from the Higher Labor and Social Court have set new, stricter criteria for assessing the justification of dismissal reasons, which raise numerous dilemmas among employers in practice.

CMS has advised Eleport on its market entry into Croatia and Slovenia.

Cerha Hempel, working with Selih & Partnerji, has advised SES Spar European Shopping Centers on its acquisition of the Arkadia Shopping Center retail park located in Domzale, near Ljubljana, Slovenia, from Generali Adriatic Value Fund I, managed by Generali Investments Slovenija. Sole practitioner Dunja Jandl reportedly advised the sellers.

Ayse Dirik has joined Turcas and Aksoy Holding as its new General Counsel.

Aydemir has advised Faurecia Polifleks Otomotiv on a collective labor agreement with the Petrol-Is union.

Aydemir, working with Studio Legale Gatto, has advised Hatko Uluslararasi Spor Teknolojileri on its acquisition of a 10% minority stake in Sofisport. Studio Legale Gallavotti Bernardini & Partners reportedly advised the sellers.

Sayenko Kharenko has advised the European Fund for Southeast Europe on the provision of a EUR 20 million loan through its Ukraine Sub-Fund to Ukrgasbank. 

On 27 June 2025, the President of Ukraine signed decree No. 422/2025 enacting the decision of the National Security and Defence Council of Ukraine (“NSDC”) “On Synchronisation of Sanctions Pressure of Ukraine, the European Union and Other Members of the Group of Seven on the Russian Federation and Related Entities”, dated the same day (“Decision”).

Sayenko Kharenko has advised the ad hoc committee of noteholders on the consent solicitation process relating to DTEK Energy’s senior secured PIK toggle Eurobonds.