Marian Dinu, Country Managing Partner at DLA Piper Dinu SCA, starts his report of the Buzz in Romania on the subject of the protests in Bucharest and throughout the country at the end of January and the beginning of February that generated media attention around the world following the ordinance bills proposed by the Romanian Ministry of Justice and secretly approved by the government regarding the pardoning of certain committed crimes and the amendment of the Penal Code of Romania (especially regarding the abuse of power).
In accordance with the Central Credit Register Act (Official Gazette of the Republic of Slovenia, No. 77/16; "ZCKR"), the Bank of Slovenia established a centralised database of the indebtedness of private individuals and business entities (Central Credit Register; "CKR") in order to enable more efficient managing of credit risks and ensure more vigilant lending.
Storing and filing of emails often happens without much attention. While the employer does have a legitimate interest in information and control of the email traffic at the workplace, this can present a high degree of risk if employees are left alone with the responsibility of storing and filing emails correctly and appropriately.
On the evening of February 1, 2017, CEE Legal Matters hosted the first ever CEELM Budapest Law Firm Bowling Challenge: A competition of four-person teams from leading law firms in Hungary, with all proceeds to go to the winner’s charity of choice. A total of 13 law firms competed for the impressive trophy – and the glory that goes along with it.
DLA Piper has advised UniCredit Business Integrated Solutions (UBIS) on the sale of its card processing activities to the Italian technology company SIA group. The purchase price amounted to EUR 500 million. CHSH reportedly advised the SIA group in Austria on the deal.
Technological innovation in financial markets continues its inexorable advance. Alternative payment methods (such as e-money and peer-to-peer payment), alternative finance (such as peer-to-peer lending and crowdfunding), blockchain-based clearing and settlement, new insurance models, and virtual currency exchanges are only a few of the recent developments endeavoring to make the financial system more efficient.
Compared to its popularity in Anglo-American countries, crowd investing – which enables broad groups of investors to fund start-up companies and small businesses in return for equity – is still very young in Europe. If a crowd-invested business succeeds, then its value increases, as does the value of a share in that business. Neither banks, venture capitalists, angel investors, or other resources can fill the financing needs of start-up companies. Crowd investing can help to bridge this substantial financing gap.
Michael Malloy, the Head of Intellectual Property and Technology for Russia at DLA Piper, first came to Russia in 1990, and he moved there for good in 1994. At DLA, where Malloy has been since 2008, he specializes in intellectual property and technology issues, and his work includes franchising, corporate law, media law, and technology transfers.
Polish Banking & Finance specialist Mariusz Hyla has left Hogan Lovells in Poland to join DLA Piper's Warsaw office as Partner and Head of the Finance & Projects department.