CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
With effect from 21 December 2024, the National Bank of Ukraine (“NBU”) introduced new exemptions from the moratorium on foreign currency cross-border transfers. Notably, these changes broaden the scope of existing exemption for Ukrainian corporate issuers permitting to make payments in connection with Eurobond-related obligations, described in our earlier legal alert.
Currently, the Croatian AML Act (Official Gazette no. 108/2007, 39/2019, 151/2022) uses the term “virtual assets,” while the Markets in Crypto-Assets Regulation (MiCA) (EU Regulation 2023/1114), along with subsequent Implementing Act for MiCA (Official Gazette no. 85/2024) adopted by Croatian Parliament in July 2024), uses the term “crypto-assets.” Clearly governing the same, the terms used are similar, but slight nuances persist in definitions. Yet, inconsistency of legal terms should be avoided to prevent misinterpretation and confusion in legal applications.
White & Case has advised on Dr. Max’s second retail domestic bond issuance valued at CZK 1.25 billion, guaranteed by Glebi Holdings, and listed on the Prague Stock Exchange.
CK Legal Chabasiewicz Kowalska has advised PragmaGO on its issuance of four-year secured bonds of series D2.
Schoenherr has advised Erste Group Bank on its EUR 500 million share buyback, followed by a cancellation of treasury shares and a reduction of the company’s share capital.
Linklaters has advised the European Bank for Reconstruction and Development on mBank's PLN 1.5 billion additional tier 1 bond issuance. Clifford Chance reportedly advised mBank.
Turkiye has recently witnessed a surge in initial public offerings. White & Case affiliate law firm GKC Partners’ Head of Capital Markets Practice Derin Altan and Kolcuoglu Demirkan Kocakli Partner Hasan Yasar explore this phenomenon and what it means for the wider market conditions.
