CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Hungary was one of the quickest in the EU to begin implementing Directive (EU) 2022/2555 (NIS2) and one of those few EU member states that met the deadline for implementation. Nevertheless, the Hungarian NIS2 implementation is still incomplete, and the current implementing laws have caused some practical and interpretational issues for various companies.
Acar & Ergonen has advised Tims Group, Tims Production, and Timur Savci on the acquisition of Yargici from GB Retail Investments Holding. Baker McKenzie's affiliate law firm Esin Attorney Partnership advised the sellers.
Baker McKenzie has advised Dertour Group on its acquisition of the Hotelplan Group, with the exception of Interhome, which is being acquired by the HomeToGo Group. Bar & Karrer reportedly advised the seller – Migros.
Digital transformation has become a priority for all major companies. This is being driven only further by the spread of artificial intelligence's commercial use cases and ever-tightening data protection and cybersecurity regulations. However, procuring enterprise software (concerning both the development of custom-made software and "off-the-shelf" software developed for mass use) may give rise to various legal issues. Promptly identifying and addressing these issues can help prevent considerable legal and operational expenses, as well as other inconveniences.
Schoenherr, working with Argo, has advised Group Vandamme on the sale of its Hungarian activities to ADM. Baker McKenzie advised the buyer.
Greenberg Traurig has advised Diagnostyka on its initial public offering and admission to trading on the regulated market of the Warsaw Stock Exchange. White & Case advised the underwriters. Baker McKenzie advised Diagnostyka's majority shareholder Mid Europa.
The Agreement on Conformity Assessment and Acceptance of Industrial Products ("ACAA") is an intermediary step for Ukraine to benefit from the mutual recognition of product quality between the EU and Ukraine until our country becomes a full EU Member State.
The AI Act introduces a comprehensive legal framework for companies dealing with AI systems in the EU. From 2 February 2025, companies subject to the regulation must take steps to ensure AI literacy and ensure that no prohibited AI practices are used. Non-compliance could lead to substantial fines.
In our Looking In series, we talk to Partners from outside CEE who are keeping an eye on the region (and often pop up in our deal ticker) to learn how they perceive CEE markets and their evolution. For this issue, we sat down with Baker McKenzie Stockholm Partner and a member of the firm’s Global Executive Committee Anders Fast.
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 turn our attention to setting up new practices and ask: When launching a new practice, what is your go-to strategy – do you look at internal team members to spearhead it, or are you more likely to turn to lateral hires? Why?
Norton Rose Fulbright has advised a consortium of Polish banks including BNP Paribas Bank Polska and mBank on a PLN 321 million (approximately EUR 69 million) financing facility provided to R.Power. Baker McKenzie reportedly advised R.Power.
On 19 December 2024, Ukraine experienced one of the largest cyberattacks on its public registers launched by the Russian Federation. Among the many targeted registers was the State Register of Property Rights to Real Estate ("Real Estate Register").
Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki have advised Grand Games on its USD 30 million series A led by Balderton Capital with participation from existing investors Bek Ventures and Laton Ventures. Kinstellar's Turkish affiliate KST Law advised Balderton. Baker McKenzie Turkish affiliate Esin Attorney Partnership reportedly advised BEK Ventures.
Starting 1 January 2025, only citizens of Georgia and Armenia will be eligible for residence permits for the purpose of employment and guest worker residence permits. This marks a significant tightening of the previous rules, which allowed citizens of 10 countries to obtain guest worker residence permits and had no such restrictions for residence permits for the purpose of employment. Although these changes do not affect currently valid permits, the new rules will apply to all new permit issuances
CMS Poland has advised COBI and its founder on the sale of a 40% stake to private equity fund Resource Partners. Baker McKenzie reportedly advised Resource Partners.
On 13 December 2024, the new "Regulation (EU) 2023/988 of the European Parliament and of the Council of 10 May 2023 on General Product Safety" ("GPSR") came into force.
Penteris has advised Summus Capital on the acquisition of the Lakeside office building in Warsaw from real estate developer Atenor. Schoenherr advised Erste Group Bank as the financing institution. Baker McKenzie reportedly advised Atenor.
Former Rymarz Zdort Maruta Partner Agnieszka Skorupinska has joined Baker McKenzie as a Partner in its International, Commercial and Trade practice. She will lead the firm's Warsaw-based sustainability and energy transition practice.
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In the Central and Eastern European (CEE) region, Baker McKenzie's expansion remains steadfast, with a thriving team of over legal professionals. Our footprint extends across six offices in Austria, the Czech Republic, Hungary, Poland, Türkiye, and Ukraine. As part of our global network, coupled with well-established partnerships throughout the entire CEE landscape, we proudly stand as one of the foremost international law firms in this dynamic territory. Our reputation as a premier business law firm in CEE is a testament to our extensive experience in advising on a multitude of prestigious projects and nurturing enduring client relationships.