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Linklaters has advised Echo Investment SA (acting through its SPV) in connection with the sale of the Sagittarius Business House office building in Wroclaw to Warburg-HIH Invest Real Estate GmbH. Dentons advised the buyers in the transaction, which remains subject to fulfillment of customary conditions precedent and is expected to occur in 2018.

Radzikowski, Szubielska & Partners has assisted international trading company RWE Supply & Trading GmbH on its launch of trading activities in natural gas and electricity as a direct member of the Polish Power Exchange (PolPX).

Linklaters has advised Budapest Airport and its shareholders on the amendment and extension of its existing EUR 1.4 billion debt facilities, with Dentons Budapest working alongside and advising on Hungarian law. Allen & Overy in London and Faludi Wolf Theiss in Budapest advised the lenders and security agent Bayerische Landesbank on English and Hungarian law, respectively.

CHSH has advised the Dentsu Aegis Network in connection with its acquisition of all shares in the second largest Austrian media agency, the media.at group. The media.at group, with its Omnimedia, Mediastrategen, und trigomedia brands, previously belonged to the A1 Telekom group, Austrian Lotteries, Austrian Post, Bawag PSK, and the Federation of Austrian Industries. The sellers were advised by Eisenberger Herzog.

The Esin Attorney Partnership and Baker McKenzie have advised the Marubeni Corporation on its acquisition of a 45.494% interest in Saide Tekstil Sanayi ve Ticaret Anonim Sirketi, an apparel company in Turkey. The Akol Law Firm advised the sellers, Hatem and Askin Duru, on the deal.

Sorainen Estonia has advised Armin Karu, Kaia Karu, Erik Karu, and Ines Karu-Salo on the sale of OU Emahool and its franchise of Mothercare online-store and retail stores in Estonia and Latvia to the owner of Juku children stores, Kotryna OU.

Aleksandr Masaliov, Senior Associate at CEE Attorneys in Lithuania, has been appointed Head of Labor Law in the Vilnius office.

Russian lawyer Sergey Anisimov has joined the Tomashevskaya & Partners team as the Head of Real Estate, Public-Private Partnership, and Infrastructure Projects.

Marcell Nemeth has been named Partner at Wolf Theiss in Vienna, where he works in the firm's Banking & Finance practice group.

Laurynas Lukosiunas, head of the Public Procurement practice at the Sorainen's Lithuanian office, has become the 12th Sorainen partner in Lithuania and the 29th in the region.

Done Yalcin has been appointed Partner at CMS. The Turkey expert, who has worked for CMS Reich-Rohrwig Hainz for ten years, heads the firm's office in Istanbul.

Maravela | Asociatii has announced that Alexandra Rimbu, who left the firm in 2013, has now rejoined the firm as Partner.

A new act on Prevention and Combating of Money Laundering and Terrorist Financing will enter into force, replacing the anti-money laundering act currently in force, on 26 June 2017. The new act is intended to implement the provisions of the EU Directive 2015/849 (i.e. the 4th Anti-Money Laundering Directive).

The “Communiqué on Trust Seal in Electronic Commerce” (“Communiqué”) has been published in the Official Gazette dated 6 June 2017 and numbered 30088 and came into effect as of the publication date. Within the frame of such Communiqué, following subjects have been regulated; 

After China, the world’s largest merchandise exporter, joined the World Trade Organization (WTO) in 2001, it agreed to a 15-year transitional period during which other members would be allowed to use the “non-market economy” method for dumping calculations. This transitional period ended on 11 December 2016, and forced certain WTO members to revise their anti-dumping strategies. 

Serbian legislation provides for a maternity leave compensation in the amount of the mother’s average salary in the last 12 months before the leave. The compensations is paid from the state budget, but the procedure of ascertaining the right to maternity leave compensation is conducted by local government.

Along with the reason provided in art. 509 par. (1) (1) of the Code of Civil Procedure, the reason for the review discussed in this article is perhaps the most common in practice due to multiple interpretative possibilities, but also because it is apparently much more accessible than the other grounds for review, which are more rigid in interpretation. In the majority of cases, however, reviewers are basically trying to resume the fund by invoking a seemingly new document that does not meet the requirements of the law to underpin the review of a judgment. 

As of 1 July 2017, an amendment to the Bankruptcy and Liquidation Proceedings Act will enter into force, aiming at close the loopholes and consolidating the case law. The amendment clarifies the provisions on the disputing of the claim by the debtor and on the statutory requirements of the payment reminder to be sent by the creditor. The regulations on the option right and the transfer of rights and claims for security purposes will also be amended.

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"Compliance work is pretty in at the moment,” says Felix Hoerlsberger, Partner at Dorda in Vienna, “especially involving the GDPR.” The regulation famously becomes applicable on May 25 of next year, but Hoerlsberger notes that in order to be compliant companies are already under pressure, as they "have to have full documentation of what processes they're performing, complete privacy impact assessments (PIAs), and potentially consult with local regulators where there are any difficulties or high-risk processing ongoing.”

The Deal:  On December 8, 2016, CEE Legal Matters reported that Wolf Theiss had advised the EBRD on its issuance of RSD 2.5 trillion Floating Rate Bonds due December 2019. AP Legal advised Raiffeisen Banka A.D., Beograd, acting as underwriter for the issuance, and Harrisons advised marketing agent Citigroup Global Markets Limited.