Oppenheim has partnered up with the Korean law firm Jipyong by signing a memorandum of understanding, leading to Jipyong opening a Korea Desk in Hungary.

According to the latest data from the Hungarian Central Statistical Office, nearly 100,000 foreign nationals were employed in Hungary as of July 2024, with almost 80% coming from third countries. After years of government-led anti-immigration messaging, many Hungarians have expressed fear and outrage at the sight of large groups of Indian, Filipino, and Vietnamese workers in smaller towns, perceiving them as competition for job opportunities.

On 1 October 2024, the Hungarian Government published a decree on the basic regulations of settlement planning and construction requirements, which fundamentally rewrites and clarifies the frameworks for construction and property planning in many areas. Among these, one regulates the placement of solar panels and solar collectors, while another sets out the general framework for the installation of wind turbines.

Bittera Kohlrusz & Toth former Managing Partner Csaba Bittera has joined Fraport as its Senior Legal Advisor.

The Government of Hungary has overhauled the regulatory framework governing the district heating sector. The legislative changes are primarily aimed at supporting substantial new investments in district heating production by increasing the profit limits for new installations utilising renewable and geothermal energy.

I am not a political expert, but I grew up in Hungary and the United States and have always focused on both countries' policies and political climates. These opinions are based on what I have seen over the past ten-plus years of living between our countries and the policies we have seen from Harris and Trump (either spoken or acted). Both candidates have notable implications for Hungary's relationship with the United States. It could impact NATO dynamics, visa policies, and economic agreements. Each candidate offers distinct approaches that could affect Hungary’s foreign policy and its alignment within Europe.

Several provisions of the new Act on Hungarian Architecture ("Architecture Act") entered into force on 1 October 2024, as a result of which the previous Building Act was repealed. The Architecture Act has taken over and supplemented many of the provisions of the previous Building Act, however, also contains a number of new rules.

The General Secretariat of the Belgian data protection authority has published an informational booklet outlining the relationship between the EU General Data Protection Regulation and the Artificial Intelligence Regulation, which came into force on 1 August 2024. The authority’s aim with the informational booklet is to provide insights into the application of data protection requirements during the development and deployment of artificial intelligence systems. Data protection requirements and legal standards are key to ensure that artificial intelligence systems operate ethically, responsibly and lawfully.

Oppenheim has advised Romania's MedLife Group affiliate Genesys Medical Clinic on the acquisition of Budapest-based VP-Med Health Centre from Attila Szabo and Olga Szegvari.

On October 25, 2024, White & Case has announced that E&'s acquisition of PPF Telecom Bulgarian, Hungarian, Serbian, and Slovakian assets (as reported by CEE Legal Matters on August 9, 2023) has now closed.

CMS has advised Werfen on its approximately USD 25 million acquisition of Omixon Biocomputing. Hogan Lovells advised Omixon.

The National Bank of Hungary (NBH) introduced a new guideline No. NBH's 9/2024, also known as the ESG (Environmental, Social and Governance) Guideline. This initiative aims to help financial institutions incorporate sustainability considerations into their risk management processes. The Guideline seeks to standardise the collection and assessment of ESG information, thereby enhancing predictability in legal compliance and reducing administrative burdens for businesses applying for credit.

Wolf Theiss has advised XPartners Samhallsbyggnad on its acquisition of Aqvila and its Hungarian subsidiary Aqvila Consult Hungary.

Former Dentons Partner Timea Bana has joined Kinstellar as a Partner and new head of the local TMT service line and sector.

Earlier in 2024, DLA Piper published its Medical Devices Advertising: CEE Comparison Guide, which reviews advertising regulations for medical devices in Austria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia. Life sciences team members who worked on the guide spoke with CEE Legal Matters about some of the regulatory differences across CEE and the practical implications for businesses.

Kinstellar has advised Banque Federative du Credit Mutuel on the acquisition of BNP Paribas’s Hungarian subsidiary Magyar Cetelem Bank. Wolf Theiss advised BNP Paribas.

Convertible loans have emerged as a pivotal financial instrument for start-ups navigating the challenging terrain of early-stage funding (pre-seed and seed), also called angel investment. These loans are a hybrid of debt and equity financing, offering a unique solution for companies that are not yet ready for a formal valuation or are seeking to bridge funding gaps between capital-raising rounds.

Adam Kaplonyi has joined Act Legal as a Partner in Budapest.