The aspect of the choice of law governing an agreement in view of mandatory rules of a jurisdiction other than that of the governing law but to which a transaction is somehow connected has become relevant in a number of pending derivatives litigation cases across various European jurisdictions.
DLA Piper has advised UniCredit Business Integrated Solutions (UBIS) on the sale of its card processing activities to the Italian technology company SIA group. The purchase price amounted to EUR 500 million. CHSH reportedly advised the SIA group in Austria on the deal.
Technological innovation in financial markets continues its inexorable advance. Alternative payment methods (such as e-money and peer-to-peer payment), alternative finance (such as peer-to-peer lending and crowdfunding), blockchain-based clearing and settlement, new insurance models, and virtual currency exchanges are only a few of the recent developments endeavoring to make the financial system more efficient.
Compared to its popularity in Anglo-American countries, crowd investing – which enables broad groups of investors to fund start-up companies and small businesses in return for equity – is still very young in Europe. If a crowd-invested business succeeds, then its value increases, as does the value of a share in that business. Neither banks, venture capitalists, angel investors, or other resources can fill the financing needs of start-up companies. Crowd investing can help to bridge this substantial financing gap.
Michael Malloy, the Head of Intellectual Property and Technology for Russia at DLA Piper, first came to Russia in 1990, and he moved there for good in 1994. At DLA, where Malloy has been since 2008, he specializes in intellectual property and technology issues, and his work includes franchising, corporate law, media law, and technology transfers.
Polish Banking & Finance specialist Mariusz Hyla has left Hogan Lovells in Poland to join DLA Piper's Warsaw office as Partner and Head of the Finance & Projects department.
Dorda Brugger Jordis has advised Petrus Advisers on the sale of approximately five million shares in Conwert to German-listed property company Adler Real Estate, which as a result increased its stake in the company to more than 25%. Adler was advised in Austria by DLA Piper and in Germany by Norton Rose Fulbright on the transaction, which was valued at approximately EUR 70 million.
In The Corner Office, we invite Managing Partners at law firms from across the region to share information about the strategies they employ to keep their teams motivated, effective, and focused. For this issue, we asked them to reveal what sorts of firm retreats and activities they host and/or organize for their lawyers.
DLA Piper has announced the appointment of former CMS dispute resolution Partner Olga Vorozhbyt as Partner and Head of the firm's Ukraine Litigation & Regulatory practice.
Comprehensive Review in Bulgaria
Hristo Nihrizov, Partner at Dimitrov, Petrov & Co., reported that the Bulgarian TV and radio markets are dominated by three big, established operators in the country. There are some new international players (e.g., Bloomberg recently launched a new business-oriented channel with a local partner), but Nihrizov noted that these new channels usually face an uphill battle in carving out market share and generally focus instead on niche markets. Overall, though, he pointed to a growing number of channels in the country, “which is good for the consumers.”