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29 New Articles

CMS has advised MOL Plc. (“MOL”), the integrated international oil and gas company headquartered in Budapest, on a EUR 615 million revolving credit facility provided by a group of ten banks. Dentons advised the banks on the facility, which was coordinated by BNP Paribas and Erste Group Bank AG, with Erste Group Bank AG acting as the Facility Agent.

CMS is providing advisory services to a Chinese investor — China Everbright International Limited (CEI) — on its EUR 123 million acquisition of Novago, a Polish waste management company, from the Abris Capital Partners private equity fund. Norton Rose Fullbright advised Abris on the transaction, which awaits final approval by the Office of Competition and Consumer Protection.

According to Jan Azud, Partner at Ruzicka Csekes s.r.o. in association with members of CMS, the new Slovakian government still hasn’t completely settled in following the March 2016 elections, and with summer and the EU Presidency here, Azud says, “everything has stalled a bit.”

CMS has announced that Dora Petranyi has been appointed CMS Cameron McKenna’s CEE Managing Director to manage and develop the firm's operations in Central and Eastern Europe. Petranyi — who begins her four year term this month — succeeds Warsaw-based Partner Andrew Kozlowski, who has managed CMS Cameron McKenna's CEE operations since 2011.

Three new codes of procedures will become effective in Slovakia on July 1, 2016, all of them having been passed by Parliament as early as May 21, 2015. In terms of importance and scope, the adoption of these new codes represents the largest law reform since Slovak independence.

This past year has exposed our practice to a number of new challenges. To some extent, this somehow mirrored the relatively more pronounced dynamics of the Slovak economy. Ours is a law office that, owing to its size and experience, has the ability to specialize in individual areas of law, and the preceding year was characterized by a higher number of industry-specific cases compared to the past. In particular, this involved attractive project applications, restructuring and financing cases, and corporate transactions, as well as immovable property and dispute cases.

Women’s Day is behind us, but the subjects of gender equality and equal opportunity are of year-round concern. This, the first part of a special two-part CEE Legal Matters article on women in private practice in CEE, provides the numbers and percentages from leading law firms across CEE, as well as a more thorough snapshot of one representative market. Part II of the report, in the June issue, will pull back the curtain even more, providing feedback and perspectives from lawyers across the region.

Linklaters and CMS Vienna are advising investment banks JP Morgan and Citigroup on matters of Austrian law related to the Carinthian Compensation Fund’s offer to the holders of HETA (formerly Hypo Alpe Adria) instruments in the nominal amount of Euro 11.2 billion, as part of the long-awaited debt restructuring of the Heta banking crisis. Skadden Arps, Hausmaninger Kletter, and Abel & Abel are advising Carinthian State Holding, Schoenherr is advising the Austrian state, and bond creditors are being advised by Kirkland & Ellis, Binder Groesswang, Gorg, Dorda Brugger Jordis, and Wolf Theiss.

When preparing for my welcome speech the night before our annual client party at the end of September, I was reflecting on the current market climate and the past year. Our Prague office has had an excellent year both in terms of financial results and growth of the team. Just before summer we made up two new partners and we have recently added five new advocates to our team.

CMS has advised Polish private equity fund Innova Capital on the acquisition of Slovenia's Trimo Group, a leading European provider of complete solutions for building envelopes and steel facade systems. The sellers are nine banks, including Slovenia's largest bank, Nova Ljubljanska Banka (NLB). The transaction is subject to merger control approvals and is scheduled to close in Q1 2016, once conditions precedent have been fulfilled.

CMS Poland is inviting fourth and fifth year law students to write a practical commentary in the area of labour law on a Supreme Court judgment, with available prizes including an IPad, sets of law books, and qualification for paid internships at CMS. In addition, all competition participants will be invited to special training that will take place in mid-December at the CMS office in Warsaw, with participants from outside Warsaw reimbursed for the costs of travel.

The China Central and Eastern Europe Investment Co-Operation Fund, established by the China Export Import Bank in partnership with the Hungarian Export Import Bank and other institutional advisors from CEE, is off and running. And Judith Gliniecki, General Counsel at CEE Equity Partners Ltd., investment advisor for the Fund, is getting rave reviews for her work on its behalf. With Gliniecki’s help, the most significant source of Chinese investment in CEE is finding smooth sailing.

In mid-July it was reported that Partner Perry Zizzi would be leaving Badea Clifford Chance in Bucharest to return to Dentons, where he had worked (under the Salans brand) before leaving 7 years before. On August 4 the news broke that long-time Ukrainian expert Adam Mycyk had joined Dentons as well. Mycyk moved over from Chadbourne & Parke, as that firm winds down its operations in KievWe reached out to Zizzi and Mycyk to ask them about their decisions to join Dentons.

25 Years in Russia

Every day your world is changing – presenting new challenges, new risks – but also new opportunities. CMS is an alliance of independent law and tax firms established for our clients to benefit from high quality business-focused advice in law and tax matters wherever they need it. 

CMS has been supporting numerous organisations in the developing and challenging Russian economy since 1992. We advise international clients on every aspect of business in Russia, as well as Russian companies abroad.

Ranked as top 10 global law firm (Am Law Global 100), our 3,400 legal professionals in 65 offices in Europe and beyond, through our technical rigour, strategic expertise and deep focus on building long-term partnerships, are committed to putting our clients and their business success first. CMS acts for the majority of the DAX 30, a large number of the FT European 500 and a number of Fortune 500 companies.

Firm's website: www.cms.law