Redcliffe Partners has advised the EBRD on providing risk-sharing instruments to ProCredit Bank, OTP Bank, and OTP Leasing in Ukraine in a food security guarantee program worth up to EUR 30 million.

Avellum has advised Kernel Holding on the sale of several of its farming entities to a company controlled by Andrii Verevskyi.

Cobalt has advised Avena Nordic Grain on the sale of its Estonian and Lithuanian grain trade businesses to the Scandagra Group. Walless advised Scandagra on the deal.

Pursuant to Article 7, paragraph 1, item 12) of the Law on Standardization (Official Gazette of RS no. 36/2009 and 46/2015) (“the Law”), the Institute for Standardization of Serbia (“the Institute”) published on April 12, 2022, the Rules for obtaining approval for the use of the National Mark of Conformity with Serbian standards (“the Rules”).

The Turkish Medicines and Medical Devices Agency ("Agency") published the Guideline on License Application for Homeopathic Medicinal Products (“Guideline on Licensing”) and the Guideline on the Packaging, Homeopathic Medicinal Product Information, Legibility and Tracking of Homeopathic Medicinal Products (“Guideline on Packaging”)  on March 15, 2022. Both Guidelines are based on Homeopathic Medicinal Products Licensing Regulation (“Regulation”). Within the scope of the Guidelines, the Agency has started accepting license applications for homeopathic medicinal products through the website www.ebs.titck.gov.tr, as of April 1, 2022. 

In January 2022, the new Regulation (EU) 2021/2282 of the European Parliament and the Council of the European Union of 15 December 2021 on health technology assessment (the "HTA Regulation") entered into force on the territory of the European Union. The HTA Regulation aims to harmonize (but not to fully centralize) the currently fragmented procedure for assessing the health technologies of innovative medical therapies entering the European Union market in different European countries. The HTA Regulation shall begin to apply in stages from 12 January 2025 and the European Commission has already approved an implementation plan until that date, which includes mainly the establishment of the information resources needed for its operation, the creation of new supranational bodies to participate in the application of the Regulation and training of the competent national authorities.

Eversheds Sutherland has advised investment advisor Sequoia Investment Management on a EUR 38.5 million agreement between the Sequoia Economic Infrastructure Income Fund and Green Genius aimed at financing the construction of a 66-megawatt portfolio of photovoltaic plants in Poland.

Clifford Chance has advised a club of lenders including Komercni Banka, Ceska Sporitelna, and Raiffeisenbank on a EUR 137.5 million loan to the Accolade group for the construction of an Amazon automated distribution center. Allen & Overy advised Accolade.

In 2021, the green financial markets substantially increased according to the Green Finance Report of the Central Bank of Hungary (MNB). Credit institutions launched green lending, and four banks are taking advantage of the MNB's green capital requirement discount for housing. Among green financing products, the green bonds are very popular both at public and corporate level, and green lending has also been launched on the corporate side. In the investment segment, ESG products are already available, but only to a limited extent.

Former Rymarz Zdort Partner Marcin Chylinski has joined the Baker McKenzie Warsaw office as a Partner and Head of the firm's Equity Capital Markets practice as of April 1, 2022.

Nestor Nestor Diculescu Kingston Petersen has advised Marcos Provit on its EUR 8.5 million cross-border corporate bond issuance through a private placement under the coordination of CVI Dom Maklerski. Wolf Theiss advised CVI.

Cobalt has advised Latvenergo AS on its issuance of EUR 100 million five-year green bonds with a fixed annual interest rate and a yield to maturity of 2.42%.

On March 14, 2022, the Turkish Competition Authority (“Authority”) published its much anticipated E-Commerce Platforms Sector Inquiry Final Report (“Report”). The Report is extensive in scope and it aims to present a snapshot of the market and provide policy recommendations to address the market failures detected by the Authority. In this article, however, the section on the most favored nation (“MFN”) clauses will be focused on and more particularly it will be discussed whether MFN clauses can be employed by digital platforms in the light of findings of the Report. Decisional practice of the Turkish Competition Board (“Board”) will also be under the spotlight to provide further colour.

Zlatan Balta has joined Legal Partners, in cooperation with Deloitte Legal, as the leader of its legal practice in Bosnia & Herzegovina.

Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

Schoenherr has advised Austrian cancer treatment and research center MedAustron on the environmental impact assessment for the commissioning of a fourth treatment room.

Pursuant to Article 7, paragraph 1, item 12) of the Law on Standardization (Official Gazette of RS no. 36/2009 and 46/2015) (“the Law”), the Institute for Standardization of Serbia (“the Institute”) published on April 12, 2022, the Rules for obtaining approval for the use of the National Mark of Conformity with Serbian standards (“the Rules”).

Jan Kubicek has joined British American Tobacco in the Czech Republic as Senior Legal Counsel.

Deloitte Legal’s Krehic & Partners has advised sellers Tomislav Plesa and Domagoj Makar on the sale of their shares in Heloo to TaskUs. Wolf Theiss, working with Simpson Thacher & Bartlett, advised the buyer.

Balicki Czekanski Gryglewski Lewczuk has advised Symfonia on its acquisition of a majority stake in HRtec. Marszalek & Partnerzy reportedly advised the unidentified sellers.

With the global pandemic, high inflation rates, and the war in Ukraine being the main drivers of work in Serbia, PR Legal’s Corporate and M&A practice has been quite busy, according to PR Legal Partner Milan Petrovic.

Eversheds Sutherland has advised investment advisor Sequoia Investment Management on a EUR 38.5 million agreement between the Sequoia Economic Infrastructure Income Fund and Green Genius aimed at financing the construction of a 66-megawatt portfolio of photovoltaic plants in Poland.

The global events and current energy crisis have demonstrated once again the imperative of continuous development of the energy sector and its modernization, which is both time-consuming and financially burdensome, but inevitable for the sustainability of the economy and overall society. It has additionally pointed out the real need for the equal or quasi-equal level of development of the electricity, gas and oil sector and increased dynamic development of the renewables energy market and, the imperative of having a firm orientation to diversification and establishment of different routes and different sources of supply. There is  a necessity of having a long-term strategic determination to stability and security of supply and national strategic plan to achieve it.

DWF has advised Orlen Capital Group's special purpose vehicle CCGT Grudziadz on the execution of engineering, procurement, and construction and long-term service agreement contracts for a gas power plant with a consortium of Siemens and Mytilineos.

One of developments in the artificial intelligence sphere which raised most concerns about potential human rights violations is definitely facial recognition.

Pursuant to the Protocol No. 15 amending the European Convention on Human Rights ["ECHR / Convention"], the time-limit for the application to the European Court of Human Rights ["ECtHR"] was reduced from 6 months to 4 months, effective as of February 1, 2022. Accordingly, once remedies available as per domestic laws are exhausted, the application should be filed with the ECtHR within 4 months following the final court judgment. Having said that if the court decision was adopted before February 1, 2022, the ECtHR application based on this decision will still be subject to 6-month time-limit.

Dentons has successfully represented nine members of a Slovak Romani community before the District Court Kosice II, on a pro bono basis, in a seven-year dispute regarding their forced eviction.

Integrites has advised Wartsila’s France-based Special Applications division on the bidding process and the agreement with Energoatom for the procurement of replacements for the safety backup of the nuclear power plant worth over EUR 2 million.

The strongest forces shaping the dynamics of legal work in Bulgaria, according to Kinstellar Partner Antonia Mavrova, are the country’s recently approved Recovery and Resilience Plan and the branching consequences of the war in Ukraine.

Adriana Mierzwa-Bronikowska, Lukasz Jankowski, and Rafal Kluziak have been promoted to Local Partner, as part of DLA Piper’s recent promotion round that also included the recently reported promotion of Agnieszka Lehwark and Bartlomiej Palusiak to Partner (as reported by CEE Legal Matters on May 9, 2022).

At the initiative of the Ministry of Justice, the Hungarian National Bank and the Hungarian Bar Association, the Government adopted a Government Decree in April 2022 regulating in detail the payment of lawyers' deposits at financial institutions in the event of liquidation and winding-up proceedings. The Government Decree provides that in the event of the winding-up and liquidation of a financial institution, the provisions of the Bankruptcy Act, the Company Registration Act, the Act on Credit Institutions and Financial Undertakings and the Investment Firm Act shall apply with the additions and derogations included in the Government Decree.

Deloitte Legal’s Reff & Associates has advised Studium Green on the acquisition of a portfolio of 100 buildings and properties from Immobiliare Italo Romena, a subsidiary of the former Italian bank Veneto Banca. Antico & Partners reportedly advised Immobiliare Italo Romena on the deal.

Ellex has advised the coordinating committee of ED&F Man Group’s senior creditors in refinancing and extending the group’s financial debt, with the transaction taking place simultaneously in over 30 jurisdictions.

Considering the environmental, social, political and economic developments, it is considered as a more profitable and efficient way for companies located abroad to employ foreign nationals in Turkey. If certain conditions are met, it is possible to meet the demands of companies in this direction. Persons who will work in Turkey are required to obtain a "work permit" in accordance with the rules and criteria set by the International Labor Law No. 6735.

DLA Piper has announced that former Counsels Andra Trantea and Paula Corban-Pelin have been promoted to Local Partner with the firm’s Romanian office.

Amendments to the Law on Pension and Disability Insurance (“the Law”) from 2019, notably Article 11 thereof, have eradicated the practical issues that used to exist in relation to the mandatory social insurance of persons working for foreign employers in Serbia.

Schoenherr has advised Austrian cancer treatment and research center MedAustron on the environmental impact assessment for the commissioning of a fourth treatment room.

Miray Turkmen has joined pharmaceutical company Organon as its Legal & Compliance Lead, Turkey & South Africa.

The Turkish Medicines and Medical Devices Agency ("Agency") published the Guideline on License Application for Homeopathic Medicinal Products (“Guideline on Licensing”) and the Guideline on the Packaging, Homeopathic Medicinal Product Information, Legibility and Tracking of Homeopathic Medicinal Products (“Guideline on Packaging”)  on March 15, 2022. Both Guidelines are based on Homeopathic Medicinal Products Licensing Regulation (“Regulation”). Within the scope of the Guidelines, the Agency has started accepting license applications for homeopathic medicinal products through the website www.ebs.titck.gov.tr, as of April 1, 2022. 

Zlatan Balta has joined Legal Partners, in cooperation with Deloitte Legal, as the leader of its legal practice in Bosnia & Herzegovina.

Taylor Wessing has represented Slovakia's President Zuzana Caputova in a libel dispute with Member of Parliament Lubos Blaha.

Pohla & Hallmagi has successfully represented UK company Steamship Mutual Underwriting Association in Marshall Island-registered oil tanker Advantage Pride arrest proceedings.

Clifford Chance has advised a club of lenders including Komercni Banka, Ceska Sporitelna, and Raiffeisenbank on a EUR 137.5 million loan to the Accolade group for the construction of an Amazon automated distribution center. Allen & Overy advised Accolade.

White & Case has advised the CTP Group on its recent acquisition of a Polish logistics project portfolio from 7R. Linklaters advised 7R on the sale.

Norton Rose Fulbright has advised Panattoni Europe on the construction of a Polish logistics center for Hermes Fulfilment.

Pohla & Hallmagi has successfully represented UK company Steamship Mutual Underwriting Association in Marshall Island-registered oil tanker Advantage Pride arrest proceedings.

KP Law has advised Schottel on its acquisition of a majority stake in Elkon from Vera Capital. Pelister Atayilmaz Enkur advised the sellers.

January is always a good time to look back, take stock, and make plans. And 2021, while a complicated year, was in no way uneventful. Across CEE, we’ve had lawyers and law firms variously reporting on – besides the obvious pandemic-related restrictions and increased work flexibility – a record year for M&A transactions, growing green energy, effervescent capital markets, a surprisingly solid real estate sector, ascendant ESG practices, a renewed focus on infrastructure, and TMT going from strength to strength.

Eversheds Sutherland has advised investment advisor Sequoia Investment Management on a EUR 38.5 million agreement between the Sequoia Economic Infrastructure Income Fund and Green Genius aimed at financing the construction of a 66-megawatt portfolio of photovoltaic plants in Poland.

TGS Baltic has advised the Truffle Capital SAS fund on leading a EUR 5.5 million investment round into Cachet. Triniti and, reportedly, Ireland-based Mason Hayes & Curran advised Cachet on the round.

Stratulat Albulescu has advised both software developer Cyscale and VC fund GapMinder in a EUR 3 million seed funding round for Cyscale.

Rymarz Zdort has provided pro bono legal advice to the Save the Children International Foundation on the establishment and registration of its Polish operations.

JSK has provided pro bono advice to the Czech Technical University on securing a patent from the Industrial Property Office of the Czech Republic on its pulmonary ventilator CoroVent.

TGS Baltic has provided pro bono assistance to Vilnius Jesuit High School in establishing a school-based untouchable capital sponsorship fund.

Dana Toma has joined Wolf Theiss’ Bucharest office as a Counsel and Coordinator of the Real Estate practice.

Clifford Chance has advised a club of lenders including Komercni Banka, Ceska Sporitelna, and Raiffeisenbank on a EUR 137.5 million loan to the Accolade group for the construction of an Amazon automated distribution center. Allen & Overy advised Accolade.

Allen & Overy has advised Bank Pekao on its lease of office space in Warsaw from HB Reavis. Decisive Szmigiel Papros Gregorczyk advised the lessor.

Serbian Personal Income Tax Law and Serbian Corporate Income Tax Law, as well as the Serbian Law on Mandatory Social Insurance Contributions, prescribe tax and social insurance contributions related reliefs for companies that conduct activities of research and development in the Republic of Serbia.

Ukrainian Parliament currently considers bill No 7232 that increases tax rates for Ukrainian businesses related to Russia (the “Measure”). The aim of the bill is to discourage corporations from Russian business activities. If successful, it should decrease Russian fiscal revenue, which will leave Russia with less funds available for warfare. There is, obviously, a huge social request and support for such measures. However, actual effect of the bill is far not that definitive.

Usage of corporate cards issued by goods and services providers to their corporate clients, have been recognized and regulated by the latest amendments of relevant Serbian regulations related to fiscalization and to VAT.

Deloitte Legal’s Krehic & Partners has advised sellers Tomislav Plesa and Domagoj Makar on the sale of their shares in Heloo to TaskUs. Wolf Theiss, working with Simpson Thacher & Bartlett, advised the buyer.

Balicki Czekanski Gryglewski Lewczuk has advised Symfonia on its acquisition of a majority stake in HRtec. Marszalek & Partnerzy reportedly advised the unidentified sellers.

TGS Baltic has advised the Truffle Capital SAS fund on leading a EUR 5.5 million investment round into Cachet. Triniti and, reportedly, Ireland-based Mason Hayes & Curran advised Cachet on the round.

Mares & Mares' hot practice over the last 12 months has been their white-collar crime one, according to Managing Partner Mihai Mares. Trigger-happy authorities have been the main driver of work, with Mares expecting the levels of activity to continue to increase in light of the upcoming Whistleblowing Directive.

The Hungarian register of ultimate beneficial owners contains the data of the data providers falling under the scope of the act ruling the register of ultimate beneficial owners, for instance limited liability companies, public limited companies, associations, foundations or notary offices.

Paul Buta has been appointed to Managing Partner, while Alexandru Terta, Iuliana Iacob, and Andrei Ormenean made Partner at Musat & Asociatii.