A&O Shearman has advised Farm Frites Poland on a PLN 98.6 million (EUR 18 million) financing from Credit Agricole Bank Polska, Bank Pekao, BNP Paribas, and PKO Bank Polski. Norton Rose Fulbright advised the banks.

JPM & Partners has advised the founders of the Sidro philanthropic foundation on its launch in Serbia.

Walless has advised Scandi Standard on entering the Lithuanian market via the acquisition of a poultry processing facility and poultry production farms.

JPM & Partners has advised the founders of the Sidro philanthropic foundation on its launch in Serbia.

Stratulat Albulescu has advised the Ministry of Research, Innovation, and Digitalization of Romania on the merger between Orange Romania and Orange Romania Communications.

In accordance with the Law on Charges on Usage of Public Goods (“Law“), the Government of the Republic of Serbia, in April 2024, adopted the Regulation on Criteria for Determining Activities that Impact the Environment and the Amounts of Fees (“Regulation“).

Cobalt has promoted former Specialist Counsl Edgars Pastars to Partner in its office in Latvia. Pastars will also Head the firm's Financial Regulatory and Compliance Practice.

Clifford Chance has advised the lenders on the debt refinancing and financing of Agora's acquisition of a 49% stake in Eurozet. Greenberg Traurig advised Agora.

In July 2024, the Hungarian Government introduced significant changes to the regulations governing online payments, aiming to enhance consumer protection and the security of electronic transactions.

Gessel has advised Olivia Fin on a prospectus-based public offering of bonds with a total value of over EUR 11 million facilitated by Noble Securities, Dom Maklerski BDM, and Michael/Stroem Dom Maklerski.

White & Case has advised Bank Polska Kasa Opieki on its PLN 600 million senior preferred series bonds issuance.

Baker McKenzie and its Turkish affiliated firm Esin Attorney Partnership have advised Eregli Demir ve Celik T.A.S. (Erdemir) on its issuance of USD 950 million 8.375% senior notes due 2029. White & Case and its Turkish affiliated firm GKC Partners advised the managers.

Glatzova & Co has successfully represented Slavia Pojistovna in a dispute against the Czech Republic over damages caused by the adoption of Act No. 274/2021 Coll., which amends the law on the residence of foreigners in the territory of the Czech Republic.

Deloitte Legal-affiliated firm Reff & Associates has advised Nokian Tyres on obtaining EUR 99.5 million of state aid in the form of a direct grant that will support the establishment of a zero CO2 emission tire factory in Oradea, Bihor county.

Avellum has advised PJSC Ukrnafta on obtaining unconditional merger clearance from the Antimonopoly Committee of Ukraine to manage Tatneft.

In the Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. With organizations continuously challenged to adapt to new and complex legal frameworks, this time we asked: For the implementation of whistleblowing requirements, do you intend to use internal resources or outsource, and why?

On June 24, 2024, the Act on the Protection of Whistleblowers (the "Whistleblowers Act") was published in the Journal of Laws, which means that most of its provisions will come into force on September 25, 2024.

Poland has finally implemented the EU Whistleblowing Directive. The new law will enter into force on 25 September 2024, leaving little time to adapt to the new regulations. We highlight the key privacy implications of implementing the whistleblowing procedures in Poland and outline the actions organisations need to take in the upcoming weeks.

CMS has advised TurboVolt on its sale to Eleport. Ellex advised Eleport and, reportedly, Schoenherr advised Eleport on Austrian, Croatian, and Slovenian law.

Tuca Zbarcea & Asociatii has advised Romanian entrepreneurs Gianina and Iulian Nica – owners of the retail chain operating under the “La Cocos” brand – on a strategic investment from EBRD, Morphosis Capital Fund II, and CEECAT Capital. Act Legal Romania, working with Mihaela Mindru Law Office, Bryan Cave Leighton Paisner, and Van Campen Liem, advised the investors.

MFW Fialek has advised Tutore International on Innova Capital’s investment in Tutore Poland. Deloitte Legal advised Innova Capital.

The Bulgarian energy regulator has proposed changes to the Grid Connection Ordinance No. 6, adopted earlier this year, which aim to provide flexibility in the application process, support for wind projects, and further regulation of battery energy storage systems (BESS).

Integrites, working with Hughes Hubbard & Reed, has successfully represented Ukrenergo in an investment treaty arbitration against Russia.

Clifford Chance has advised Nofar Energy via its Romanian entities Solis Imperium and RTG Solar Energy on a EUR 122 million term loan facility agreement and VAT facility agreement with the EBRD and Raiffeisen International.

On April 22, 2024, Everlegal announced it had been appointed to provide legal support to the United Nations High Commissioner for Refugees – the UN Refugee Agency – for its activities in Ukraine.

Noor and the Lithuanian Red Cross Society have executed a memorandum of cooperation based upon which Noor will provide continuous legal advisory and assistance to the Red Cross on various legal matters.

Everlegal has partnered up with the Norwegian Refugee Council in Ukraine and will be offering the NRC legal support on a number of day-to-day legal issues.

The use of PPP mechanisms in Ukraine is not common and has been only recently gaining momentum. Even though the Law on Concessions was adopted back in 1999 and the Law on Public-Private Partnership in 2010, these instruments have long been underestimated.

On January 11, 2024, Romania enacted significant amendments to its legislation on public-private partnerships (PPPs). While the country has had a dedicated PPP legal framework since 2002, no major infrastructure projects have been developed through this mechanism. To attract private investors and international financial institutions to participate in such projects in Romania, Government Emergency Ordinance no. 39/2018 on PPPs (GEO no. 39/2018) has been amended substantially.

Slovenia is adopting the EU’s strategy to boost renewable energy (RE) for electricity to enhance decarbonization. Unlike France’s reliance on nuclear power, Germany’s focus on renewables like wind, solar, and hydro hasn’t significantly reduced CO2 emissions, evidenced by its emissions being eight times higher than France’s.

Glatzova & Co has advised Tetera A Spol as CEPO Green3's insolvency administrator.

As a result of major market changes, business entities more often suspend their operations and become insolvent, during which arises the question of the collectability of the claims of their creditors and associates, as well as persons who are in other relationships with such insolvent business entities.

Koutalidis has advised Alpha Bank Group on the reorganization of Alpha Leasing’s business via a common demerger.

In 2024, Hungary introduced new regulations concerning the employment of guest workers. The new law, which took effect at the start of the year, outlines specific criteria for obtaining a guest worker residence permit. Under the new regulations, a guest worker can receive a residence permit if the following conditions are met:

In Judgment No. Rev₂ 1986/22 dated November 24, 2023, the Supreme Court took the position that the days during which the employee was on sick leave cannot be counted in the eight-day period within which the employee is obligated to respond to the offer of an annex to the employment contract, starting from the date of receipt of the offer.

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.

Ellex has advised Hansa Medical on its acquisition of Weissmed.

Wolf Theiss, working alongside Ropes & Gray, has advised Audax Private Equity on its acquisition of Avantor’s Clinical Services business.

NKO Partners has advised Sopharma on the acquisition of Pharmanova. Radovanovic Stojanovic & Partners reportedly advised Pharmanova.

Glatzova & Co has successfully represented Slavia Pojistovna in a dispute against the Czech Republic over damages caused by the adoption of Act No. 274/2021 Coll., which amends the law on the residence of foreigners in the territory of the Czech Republic.

Integrites, working with Hughes Hubbard & Reed, has successfully represented Ukrenergo in an investment treaty arbitration against Russia.

Baker McKenzie has successfully defended Kosovo Telecom in a Swiss Rules Arbitration against a Kosovar company reselling its mobile credit as well as in the subsequent challenge of the award at the Swiss Supreme Court.

TGS Baltic has advised Delamode Baltics on funding from ACP Credit.

Although Lithuania no longer has a national airline, charter companies are popular in the market, especially during holiday periods. Although the Lithuanian aviation industry was heavily affected by the COVID-19 pandemic, no charter company has gone bankrupt. In fact, just recently in spring 2024, one charter company undergoing restructuring finished restructuring procedures earlier than planned and successfully continues its operations from Lithuania.

Paksoy, working with Linklaters, has advised DP World on establishing a partnership with Evyap Group. Herguner Bilgen and Guzeldere Balkan Gocen reportedly advised Evyap.

Your Legal Partners’ Katerina Politopoulou, Maria Golfinopoulou, and Prokopis Linardos Talk About the Deal of the Year in Greece.

Avellum has advised the Kernel Group on the acquisition of 100% of shares in Reni-Oil LLC – a sunflower oil transshipment terminal with a storage capacity of 15,000 tons, in the port of Reni, on the Danube – for a consideration of USD 24.75 million.

Fortsakis Diakopoulos & Associates has advised the Hellenic Republic Asset Development Fund on the sale of a 67% stake in the Heraklion Port Authority to a consortium consisting of Grimaldi Euromed and Minoan Lines.

Tuca Zbarcea & Asociatii has advised Romanian entrepreneurs Gianina and Iulian Nica – owners of the retail chain operating under the “La Cocos” brand – on a strategic investment from EBRD, Morphosis Capital Fund II, and CEECAT Capital. Act Legal Romania, working with Mihaela Mindru Law Office, Bryan Cave Leighton Paisner, and Van Campen Liem, advised the investors.

MFW Fialek has advised Tutore International on Innova Capital’s investment in Tutore Poland. Deloitte Legal advised Innova Capital.

Cobalt has advised the Warsaw Equity Group on its investment in UP Catalyst in a EUR 2.36 million round that also saw the participation of SmartCap.

Dentons has successfully represented an unlawfully sterilized woman in administrative court proceedings against the Ministry of Health of the Czech Republic regarding a denied claim for compensation and subsequent appeal on a pro bono basis.

Wardynski & Partners has represented the Civil Society Drug Policy Initiative on a pro bono basis in a dispute with Meta.

Integrites has provided pro bono defense representation to a soldier of the Armed Forces of Ukraine concerning criminal charges brought against him by the military command. The firm also advised the soldier's family on obtaining monetary compensation.

On 16 August 2024, the Resolution of the Cabinet of Ministers of Ukraine as of 9 August 2024 No. 925 ("Amending Resolution") became effective and introduced amendments to the Resolution of the Cabinet of Ministers of Ukraine as of 18 March 2022 No. 314 "On Certain Issues of Ensuring of Carrying Out Commercial Activities During Martial Law" ("Resolution on Simplified Licensing Procedure").

Kocian Solc Balastik has advised Concens Investments on financing phase II of the Ostrava Airport Multimodal Park project via Trinity Bank.

E+H has advised Baustoff + Metall, RPR Privatstiftung, and Stefan Schoenauer on the acquisition and refinancing of the Althan Quartier in Vienna. CMS advised the sellers – a banking consortium led by Raiffeisen Bank International and including Oberbank, Raiffeisenlandesbanken Steiermark and Oberoesterreich, Volksbank Wien, Sparkasse, VKB, and Hypo Vorarlberg.

Former Lakatos, Koves and Partners Head of Tax Balazs Kantor has joined Kapolyi as a Partner and the firm’s new Head of Tax.

Schoenherr has promoted Nora Olah to Local Partner in its Bucharest office.

In response to the extensive destruction caused by Russia to Ukraine’s critical energy infrastructure, the Ukrainian government continues to implement emergency measures to restore energy-generating capacities and ensure energy stability across the country.

Clifford Chance has advised the lenders on the debt refinancing and financing of Agora's acquisition of a 49% stake in Eurozet. Greenberg Traurig advised Agora.

In July 2024, the Hungarian Government introduced significant changes to the regulations governing online payments, aiming to enhance consumer protection and the security of electronic transactions.

North Macedonia currently lacks AI-specific regulations, lagging behind neighbouring countries that have implemented guidelines or laws. Although the Macedonian Fund for Innovation and Technology Development (FITD) and the government initiated efforts in 2021 to create a National Strategy for AI (National Strategy), progress has been slow due to challenges such as insufficient data, human resources, and technical capabilities. Despite this, there is a strong commitment, supported by organisations like the World Bank and UNDP, to develop a comprehensive AI strategy aligned with European Union (EU) standards.

Romania-based Mares & Mares and Cyprus-based Emilianides Katsaros have formed a partnership spanning Cyprus, Romania, and Greece.

The European Public Prosecutor’s Office (EPPO) is an independent body of the European Union (EU) tasked with investigating criminal cases infringing the financial interests of the EU. The EPPO was formally established in 2017 and started operations in 2021. The first and current head of the European Chief Prosecutor is Laura Codruta Kovesi, former Chief Prosecutor of the National Anticorruption Directorate (Directia Nationala Anticoruptie; DNA), the Romanian agency tasked with investigating corruption cases.

Former Managing Associates Jesse Kivisaari and Lembit Tedder have been promoted to Partner at Cobalt Estonia.