Linklaters, Freshfields, Bittera, Kohlrusz & Toth, and Herbert Smith Freehills have advised AviAlliance and co-shareholders on the sale of Budapest Airport to a consortium consisting of Hungarian state-owned Corvinus Zrt and French co-investor Vinci Airports for a total purchase price of EUR 3.1 billion and net debt of EUR 1.2 billion. CMS advised Corvinus. Kinstellar, working with Orrick, advised Vinci Airports. Wolf Theiss, working with Latham & Watkins, advised the lenders on financing the transaction.

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 keep our readers apprised of the latest developments impacting their respective practice areas.

The Hungarian Parliament recently adopted amendments to the notarial procedure, introducing significant changes that affect the reading of documents during notarial acts from 1 January 2025.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. While in the legal field maintaining client relationships is vital, there are occasions when law firms must end engagements. To explore some of the reasons that might lead to this, we asked: After accepting mandates, what have been the main reasons for which you ended up having to drop clients?

Heralded as a cornerstone of the national economy, the Hungarian automotive sector faces significant challenges but also promising opportunities. Baker McKenzie Partner Zoltan Hegymegi-Barakonyi, Lakatos, Koves & Partners Partner Adam Mattyus, Szecskay Senior Partner Judit Budai, and Kinstellar Sector Head and Senior Counsel Akos Nagy take a deep dive into the sector’s status amidst a backdrop of labor shortages, geopolitical shifts, and the government’s concerted efforts to continue growth and maintain global competitiveness.

After eight years with the MET Group, Legal Director Sandor Zorad reflects on the company’s path to international expansion.

An in-depth look at Balazs Dominek of Szabo Kelemen & Partners Andersen Attorneys covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

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.