Since 2010, the regulations and practices relative to the ESG requirements in the EU have been rapidly evolving. The EU has implemented significant rules by adopting the Taxonomy Regulation, the Non-Financial Disclosure Directive (NFRD), the Sustainable Finance Disclosure Regulation (SFDR) and the Corporate Sustainability Reporting Directive (CSRD). These regulate the disclosure obligations of certain companies and private equity funds in connection with their sustainability obligations and their commitment to respecting human rights.
Eren Kursun Appointed New Managing Partner of Esin Attorney Partnership
Eren Kursun has been appointed the new Managing Partner of Baker McKenzie Turkish affiliate Esin Attorney Partnership – to start on July 1, 2023 – taking over from Ismail Esin who will continue to manage the Dispute Resolution department and serve on the firm's executive board.
Schoenherr and Baker McKenzie Advise on Pathlight Capital Term Loan for Lumos Holdings
Schoenherr, working with Morgan Lewis, has advised Pathlight Capital on its term loan to Lumos Holdings US Acquisition Co. Baker McKenzie advised Lumos in Hungary and the UK.
Employment in Hungary
Contributed by Baker McKenzie.
Serhiy Chorny and Viacheslav Yakymchuk Elected Co-Managing Partners at Baker McKenzie in Kyiv
Viacheslav Yakymchuk joins Serhiy Chorny as Co-Managing Partner of Baker McKenzie’s Kyiv office. He takes over from Serhiy Piontkovsky, who has held that position since 2010 and will continue to lead the firm's Real Estate practice group in Kyiv.
Did You Know: Most Prolific 2023 Thought Leaders
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, two CEE lawyers have already authored or co-authored eight thought leadership articles published on the CEE Legal Matters website this year, more than anyone else in the region?
IP, Tax, Labor, and Corporate Practices Busy in Ukraine: A Buzz Interview with Serhiy Piontkovsky of Baker McKenzie
While Ukrainian law firms have to deal with issues ranging from power outages to effective work distribution, their intellectual property, tax, labor, and corporate law practices remain relatively busy, according to Baker McKenzie Managing Partner Serhiy Piontkovsky.
Baker McKenzie and Garrigues Advise on ARP and GRI Renewable Industries Joint Venture
Baker McKenzie has advised companies from the Agencja Rozwoju Przemyslu group on their joint venture with GRI Renewable Industries for the construction of a wind tower production facility in Poland. Garrigues advised GRI.
Ukraine: New Procedure for Reservations of Employees Subject to Military Service
On 31 January 2023, the Resolution of the Cabinet of Ministers of Ukraine "Some issues with implementation of the provisions of the Law of Ukraine 'On Mobilization Training and Mobilisation'" No. 76 dated 27 January 2023 ("Resolution") came into effect. The Resolution approves a new procedure for reserving persons subject to military service, as well as criteria for determining companies that are critically important for the functioning of the economy and ensuring the livelihood of the population during a special period.
Greenberg Traurig and SKJB Advise on Trigea Acquisition of City Logistics Wroclaw II
Greenberg Traurig has advised the Trigea Real Estate Fund on its acquisition of City Logistics Wroclaw II from Panattoni. Szybkowski Kuzma Jelen Brzoza-Ostrowska advised Panattoni. Baker McKenzie reportedly advised Trigea on tax matters.
Baker McKenzie, DTB, and Marek Partners Advise on Migros Group Investment in Revendo
Baker McKenzie, Divjak Topic Bahtijarevic & Krka, and Marek Partners have advised the Migros Group and its start-up incubator Sparrow Ventures on their investment in Revendo. Baer & Karrer advised Revendo's founders.
Ukraine: Changes to the Workplace Accident Investigation Procedure
On 26 January 2023, the Resolution of the Cabinet of Ministers of Ukraine "On Amendments to the Procedure for Investigation and Recording of Accidents, Occupational Diseases and Industrial Accidents" No. 59, dated 20 January 2023, (the "Resolution") came into effect. The Resolution, among other things, establishes the procedure for the timely and thorough investigation of workplace accidents caused by the military aggression of the russian federation against Ukraine.
Hungary: New Trends in Investigations and Case Law on Medicinal Product Promotion
A new trend is emerging in the National Institute of Pharmacy and Nutrition’s (OGYEI) recent case law on medicinal product promotion in Hungary. The OGYEI is more active, imposes higher fines, and its investigations extend to longer time periods and to a variety of promotional practices of pharma companies, instead of focusing on specific infringements as before. In numbers, the OGYEI published two to three times as many decisions annually in the past two years than before. Further, the imposed fines regularly exceed USD 75,000 and, in 2022, the OGYEI imposed its highest fine (approximately USD 100,000) in the last ten years.
Paksoy Advises Groupe Cahors on Acquisition of Schneider Electric’s Transformer Plant in Turkey
Paksoy, working with Willkie Farr & Gallagher, has advised Groupe Cahors on its acquisition of Schneider Electric companies that operate transformer plants in Turkey and Poland. Baker McKenzie Turkish affiliate Esin Attorney Partnership reportedly advised the sellers. Volt Associes and Kinstellar Turkish affiliate Gen Temizer Ozer reportedly advised the lenders.
Ukraine: Government Approves New Procedure for Military Registration of Conscripts, Persons Liable for Military Service and Reservists
On 5 January 2023, the "Procedure for Organisation and Maintenance of Military Registration of Conscripts, Persons Liable for Military Service and Reservists," approved by the Resolution of the Cabinet of Ministers of Ukraine No. 1487 dated 30 December 2022 ("Procedure"), came into effect. The Procedure establishes changes regarding the military registration of Ukrainians, including new obligations for employers.
Turkiye Announces Procedures and Principles on Execution of Real Estate Sales Transactions by Public Notaries
The Law on the Amendment of the Law on Judges and Prosecutors and Certain Laws (“Law“) published in the Official Gazette dated 28 June 2022 and numbered 31880 made significant amendments to Notary Public Law No. 1512 and enabled public notaries to execute real estate sales contracts.
Clifford Chance and Baker McKenzie Advise on Paged Group Refinancing
Clifford Chance has advised ING Bank Slaski, Bank Gospodarstwa Krajowego, and Alior Bank on a sustainability-linked corporate refinancing for the Paged Group. Baker McKenzie advised the borrowers.
Closing: Stellantis Acquisition of aiMotive Now Closed
On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.