Legislators on both the European and Czech level have been active in adopting new regulations that influence several areas of the modern economy. Financial services, with consumer finance on one side and markets in financial instruments on the other, have been at the center of these efforts. Financial regulation is not, however, the only measure heavily affecting banks, investment firms, and FinTech companies by putting new compliance requirements in place. Another huge legal instrument – the General Data Protection Regulation adopted on the EU level in 2016 – imposes new requirements on all companies dealing with personal data.
Przemyslaw Kozdoj has moved from Greenberg Traurig in Poland to joined the Warsaw office of Wolf Theiss as a Partner and head of the Banking and Finance practice group.
Wolf Theiss Bucharest and Warsaw, working alongside Radulescu & Musoi, have advised Poland's Credit Value Investments asset management company on its EUR 12 million investment in Impact Developer & Contractor. Impact Developer & Contractor was advised by PeliFilip and Linklaters.
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.
Marcell Nemeth has been named Partner at Wolf Theiss in Vienna, where he works in the firm's Banking & Finance practice group.
Wolf Theiss and Linklaters have assisted Raiffeisen Bank International with its issuance of EUR 650 million 6.125% AT1 notes. The banking consortium of Citigroup, Bank of America Merril Lynch, BNP Paribas, and UBS Investment Bank received legal advice from Freshfields.
Baker McKenzie has announced that Filip Boras has been appointed Partner in Vienna, with fellow arbitration specialist Stefan Riegler taking over the management of the Vienna office.
In May 2018, the EU General Data Protection Regulation (GDPR) – which will be directly applicable in all member states – will come into force, harmonizing the data protection regime to a major extent. However, several of the GDPR’s opening clauses delegate responsibility for further regulation to national legislators. International companies will thus still have to consider local laws when preparing for GDRP-compliance.
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.
In The Corner Office we invite Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. The question this time around: Is your personal practice more or less the one you anticipated when you finished law school, or did it change somehow in the interim?
Romanian law firm Tuca Zbarcea & Asociatii has advised Czech pharmacy chain Dr. Max, owned by Penta Investments Group, on its acquisition of the Fastpharm SRL, Iezer Farm SRL, Panpharma Med SRL, and York Farm SRL chains, which will be rebranded and run under the name “Dr. Max”. Wolf Theiss advised the sellers, a Romanian family.
The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.
On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.