On February 14, 2024, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) approved the Network Development Plan 2023 submitted as a result of the coordinated work of the Hungarian TSO (transmission system operator – MAVIR Zrt.) and distribution network operators.

Former Noerr Partner Edina Schweizer has joined Dentons as Partner and Head of the Hungarian Banking and Finance team. Barbara Vighne Herczegfalvi also joined as an Associate.

Kinstellar has advised the MOL Group on its  EUR 1.3 billion new polyol complex in Tiszaujvaros, Hungary.

Former Gardos Mosonyi Tomori Partner Veronika Bakonyi has joined Lakatos Koves and Partners' Banking Finance and Capital Markets team as an Attorney at Law.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. For this piece, we asked firm Labor experts:  Have whistleblowing regulations been implemented in your jurisdiction and would you advise companies to use an external solution or an in-house one? Why?

Despite the original plan to transfer to Kinstellar, the Noerr Budapest office will continue as an independent firm from June 1, 2024.

In a previous article, we analyzed the phenomenon where courts typically reduce the attorney fees awarded to the winning party. This essentially forces the winner to incur unjustified losses, indirectly causing market distortion. Now, the Supreme Court has responded to this phenomenon with a precedent-setting, binding decision. Let's first look at the key developments and then how this affects litigation strategy!

In the audit practice of the Hungarian Tax and Customs Administration (HTA), the audit of transfer pricing is gaining importance. Moreover, the relevant regulations are becoming more complex with each passing year. As the deadlines for transfer pricing documentation approach, it is worth reviewing what hidden pitfalls should be avoided when preparing documentation and providing data.

The decision of the U.S. Securities and Exchange Commission (SEC) on January 10 has stirred significant attention, as it granted approval for the listing of certain products based on Bitcoin on the stock exchange. The impact of this decision on the European and American securities markets, and whether similar steps will be taken, depends largely on the details – including the names assigned to cryptocurrency-based products.

The Court of Justice of the European Union has decided in two cases concerning Hungary in its judgments in joined cases C-420/22 and C-528/22, published on 25 April 2024.

From a significant downturn in project financing to promising developments in green energy, particularly wind, CMS Partner Eszter Torok shares valuable insights into the complexities of the Hungarian market against the backdrop of shifting economic and regulatory landscapes.

A new decree entered into force on 9 April 2024 on the ban of employment of guest workers in the public sector in Hungary.

One of the measurable success stories of the fintech revolution is how donation and subscription-based community financing has become an alternative to traditional fundraising methods such as classical bank financing or venture capital investments. From this rapid development, it follows that there is a less uniform picture in the public consciousness about the phenomenon of "crowdfunding." How many forms are there? Which ones are regulated? Who are the actors in the process? What regulations apply to it? How are they taxed? Among many clarifications to be made, the main question, however, is whether specialized crowdfunding service providers for this purpose will emerge in Hungary as well.

Schoenherr has advised Chengdu Datang Communication Cable on the establishment of its Hungarian subsidiary, Zettanet Kft., and the acquisition of a 25,000-square-meter industrial site in Kisber from Sumitomo Electric Wiring Systems Limited. Sole practitioner Zsolt Fuesthy advised the sellers.

According to the decision of the Court of Justice of the European Union of 16 May 2024 (C-746/22), the Hungarian rule that does not allow foreign taxpayers in VAT refund cases to submit their documents even in the appeal procedure is contrary to EU law. We have summarised the key lessons learned from the case which was handled by our office.

EU legislation on crypto-assets is based on the EU Regulation on Markets in Crypto Assets (as known as MiCA), which is directly applicable in the Member States, including Hungary.

Local Partner Zoltan Kozma has been appointed the new Head of the Intellectual Property & Technology group at DLA Piper in Hungary.

Across Europe, defense sectors are experiencing significant transformations and budgetary escalations, driven by a need for enhanced military readiness and modernization. Avellum Partner Andriy Romanchuk, Cobalt Partner Deividas Soloveicik, Nagy es Trocsanyi Partner Gyorgy Kiszely, and Tuca Zbarcea & Asociatii Partner Serban Paslaru take a closer look at defense spending in their respective countries.