The owner’s rights are guaranteed by the Constitution. However, a person can still be restricted or stripped of enjoying its title to the property if so provided by the statutory law passed by Verkhovna Rada. Mandatory transfer of property for the needs of defence or other public emergencies is called requisition and such transfer must be subject to prior and fair compensation, except “where extraordinary circumstances require otherwise”.
On February 25, 2022, CEE Legal Matters reported that Clifford Chance had advised Commerz Real on its sale of Charles Square Center to a closed-end European real estate fund represented by KGAL Investment Management. CEE In-House Matters spoke with Dirk Schilo, Senior Legal Counsel at Commerz Real to learn more about the deal.
On February 15, 2022, CEE Legal Matters reported that Popovici Nitu Stoica & Asociatii had advised Redport Capital and Mobexpert on the acquisition of a 44,000 square-meter land plot near Petrom City in Bucharest from OMV Petrom. CEE In-House Matters spoke with Cosmin Savu Cristescu, Managing Director at Redport, to learn more about the acquisition.
On April 5, 2022, Dentons announced that the Gutenberg Capital’s Acquisition of Power Park Opole from EPP (reported by CEE Legal Matters on January 10, 2022) has now closed.