CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
A little over one year since Romania’s new foreign direct investment (“FDI”) screening regime became fully operational, the Romanian government passed an emergency ordinance meant to further clarify particular aspects under the law (such as the scope of the screening regime, which is further extended) or to translate into law the lessons learnt or the authorities’ reading of the rules since applying the new FDI law.
Under the EU's Foreign Subsidies Regulation (FSR), companies must notify the European Commission in advance of certain acquisitions, mergers or large public procurement transactions if the groups of companies involved have received financial contributions from outside the EU. Compiling the notification and gathering the necessary information can be a heavy administrative burden for companies, and failure to do so can result in fines of up to 10% of the group's worldwide turnover.
NKO has successfully represented Konica Minolta before the Administrative Court of Serbia in a dispute with the Serbian Competition Authority over a fine imposed for allegedly entering into restrictive agreements.
Sayenko Kharenko, working with Appleton Luff, has successfully represented PJSC Stalkanat in the antidumping administrative review regarding prestressed concrete steel strand, conducted by the US Department of Commerce, resulting in a 0% (no-dumping) rate being granted.
Schoenherr has advised ProPellets Austria on a dawn raid by the Austrian Federal Competition Authority and its subsequent investigation into the Austrian pellets market.
The Hungarian Competition Authority (HCA) recently published a draft report on its findings based on an accelerated sector inquiry into Hungary's online accommodation booking market. The sector inquiry was launched on 24 August 2023 after the HCA received numerous complaints during the peak summer holiday season about the practices of Booking.com, a key market player, for withholding payments to accommodation providers.
Some significant amendments to the Hungarian Competition Act have entered into force. The Hungarian Competition Authority (HCA) has been very active recently in various sectors. This summary briefly describes the most important changes. Some of the changes require an update to the compliance materials for Hungary.
