Contributed by Baker McKenzie.
50 Shades of Governmental Interference in Hungary: A Buzz Interview with Zoltan Faludi of Wolf Theiss
The Hungarian government is actively shaping the market and there are both positive and negative effects on many levels, according to Wolf Theiss Managing Partner Zoltan Faludi.
ChatGPT and Competition Law: Some Initial Thoughts and Questions
Probably even the chatbot ChatGPT would be “surprised” to see how many new articles, essays, blogposts, personal posts and videos discuss issues around AI, and specifically, generative AI.
Schoenherr Advises Robert Bosch Investment Nederland on Minority Stake Acquisition in Kazantrade
Schoenherr has advised Robert Bosch Investment Nederland on its acquisition of a minority stake in Hungarian thermo-technology company Kazantrade and the related asset deal that saw RBIN sell its Serbian thermo-technology business to Kazantrade's Serbian subsidiary. Sole practitioner Zsolt Simanyi reportedly advised the Hungarian seller and target company.
Schoenherr Advises ODDO BHF and GLAS Trust Limited on Financing Afinum's Acquisition of Christian Koenen Group
Schoenherr has advised both the lending group and the borrower on a deal that saw ODDO BHF and GLAS Trust Limited finance Afinum's acquisition of the Christian Koenen Group. Germany's Astera Legal and GLNS Rechtsanwaelte reportedly also advised the lenders and the borrower, respectively.
Can Employers Avoid Payment for Tacitly Approved Overtime in Hungary?
Do employers have to pay for overtime if it was not expressly ordered by them? Can employers legally exclude in company documents the payment for overtime performed without their consent? In our article we examine these issues based on the case law of Hungarian labour courts.
Gender Equality in Hungarian Workplaces
Gender equality in the workplace refers to the fair and equal treatment of individuals of different genders in all aspects of employment, including hiring, promotion, pay and job duties. Achieving gender equality is essential to creating a diverse, inclusive workplace that supports all employees.
Greenberg Traurig Advises Cromwell Property on Sale of Wisniowy Business Park
Greenberg Traurig has advised the Cromwell Property Group Poland on its sale of the Wisniowy Business Park office complex in Warsaw to an unidentified Hungarian investor through a share deal.
Did You Know: Most Prolific 2023 Thought Leaders
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, two CEE lawyers have already authored or co-authored eight thought leadership articles published on the CEE Legal Matters website this year, more than anyone else in the region?
The Debrief: March 2023
In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas.
The Corner Office: The Million Dollar Question
In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?
The CEE Winter Shutdown
With numerous reports of energy-related business shutdowns, we reached out to local experts across CEE to understand what different markets have been dealing with, in terms of work and production stoppages, and look into the broader impact.
What is the Standard of Proof in Hungarian Liquidation Proceedings?
Being declared insolvent for an unpaid invoice in Hungary seems to be an exaggeration, yet it is a possible outcome in liquidation proceedings. What kind of standard of proof is applied by judges? Does the "beyond a reasonable doubt" standard, known in criminal proceedings applies? This article addresses this issue by analysing a recent decision of the Hungarian Supreme Court.
HCA Uses its Powers to Uncover Roots of Record-High Food Inflation
After the covid-19 pandemic, the EU economy is now being disrupted by the Russia-Ukraine conflict. The rising energy prices and disrupted supply chains have resulted in a further increase in inflation. According to the Hungarian Central Statistics Office, average inflation in Hungary was 24.5% in December 2022, the highest in the European Union. However, inflation of food products was even higher, reaching a staggering 44.8% year-on-year price increase by December 2022. This number is almost three times higher than the EU average.
Cytowski & Partners and White Summers Advise on USD 5 Million Funding Round for Colossyan
Cytowski & Partners has advised LaunchHub Ventures and Emerge Education on leading a USD 5 million Series A round for Colossyan. The White Summers European Office in association with Weiszbart & Partners advised Colossyan.
Cerha Hempel and SOG Appointed Legal Advisors for Emirate of Dubai Economic Development Program
Cerha Hempel Hungary and the SOG Law Firm have been appointed as members of an international legal consortium to screen potential companies and advise on investments by the Emirate of Dubai’s “Operation 300 Billion” program. The consortium also reportedly includes the Boros Arpad Andras law firm in Budapest.
Amendments to the Rules of Proceedings of HCCI’s Arbitration Court
The amended Rules of Proceedings of the Arbitration Court attached to the Hungarian Chamber of Commerce and Industry (hereinafter referred to as “Rules of Proceedings”) entered into force on 31 December 2022, which apply to proceedings commenced on the date of the entry into effect or thereafter.
Labour Code Changes from 2023 – A Litigation Tsunami for Employers in Hungary?
In the last five years, the number of labour lawsuits in Hungary has dramatically decreased by because of the new Civil Procedure Code. However, due to the recent amendment of the Hungarian Labour Code from January2023, a new category of labour lawsuits may emerge. Do employers face a real risk because the new rules? We analyse this question below.