CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
In a significant move towards economic recovery and strategic growth, Ukraine and its international partners have launched several finance initiatives aimed at mobilizing capital and transforming critical sectors. These efforts, including the United States-Ukraine Reconstruction Investment Fund and other programs announced in 2025, showcase a commitment to rebuilding Ukraine through blended finance models. This article explores these developments and their implications for Ukraine’s future.
In June 2025, a foreign currency (Swiss franc) loan agreement was annulled by the Pest Central District Court, since the creditor bank had failed to properly inform the debtor (who had been a consumer) about the exchange rate risk arising from the agreement. As a consequence, the whole agreement is invalid retroactively from the date of its conclusion, so that the bank is only entitled to recover the amount it lent to the debtor; beyond that, all repayments, interest and charges must be repaid to the debtor.
Greenberg Traurig has advised TMF Poland as the Polish security agent in connection with notes issued by the Bausch Health Companies, as part of its USD 7.9 billion refinancing.
Harrisons has advised the European Bank for Reconstruction and Development on two loans granted in connection with Inn-Flex’s expansion into Serbia.
On July 22, 2025, Clifford Chance announced that Alpha Bank and Alpha International Holdings' Sale of Alpha Leasing Romania IFN and Alpha Insurance Brokers to Vista Bank Romania (as reported by CEE Legal Matters on March 17, 2025) has now closed.
Allen Overy Shearman Sterling has advised the global coordinators on the EUR 2.15 billion senior financing for Allwyn.
Kinstellar has advised KentBank on the acquisition and maintenance of the source code for its core banking software.
