CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
A December 2022 decision by the Austrian Constitutional Court to annul the media privilege in the Austrian Data Protection Act has raised questions on how the country’s approach to the legal landscape regulating the media will change. Wolf Theiss Partner Kurt Retter and DLA Piper Counsel Stefan Panic analyze the ruling’s implications.
The SOG Law Firm, working with DLA Piper’s office in France, has advised the Renault Group on the divestment program for its import and distribution subsidiaries in six jurisdictions. Wolf Theiss reportedly advised the Emil Frey Group on acquiring the operations. Sabev & Partners reportedly advised the Renault Group as well.
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.
On April 27, 2023, Wardynski & Partners announced that OT Logistics’ debt restructuring (as reported by CEE Legal Matters on June 26, 2019) had closed.
Regulation (EU) 2022/1925, The Digital Markets Act, is set to apply from 2 May 2023
Addressing digital developments and concerns regarding contestability and fairness in the digital economy, the Digital Markets Act – an ex-ante regulatory system – entered into force on 1 November 2022 and will apply from 2 May 2023. Designed to complement competition law, the Digital Markets Act lays down prohibitions and obligations for designated gatekeepers that provide a range of “core platform services” and gives the European Commission broad investigative and enforcement powers. Generally speaking, the Digital Markets Act aims to prevent unfair practices by gatekeepers.
Wolf Theiss has advised ZBI Zentral Boden Immobilien Group on its acquisition of the Karntner Strasse 1 tower from the KS Group. Kaan Cronenberg & Partner reportedly advised the seller.
What does the new whistleblowing system entail?
In line with Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of persons who report breaches of Union law, the Hungarian Parliament adopted a new law on complaints, whistleblowing and rules for reporting breaches, which replaces previous legislation. Below we have summarized the key points of the new rules. This information has been prepared for private sector actors.
On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, only five lawyers in Bulgaria worked on more than one client matter reported in the first three months of 2023?
Clifford Chance has advised a club of banks led by Ceska Sporitelna – including UniCredit Bank Czech Republic and Slovakia and the Czech branch of Citibank Europe – on a CZK 1 billion club financing for Packeta and its subsidiaries. Wolf Theiss advised Packeta.
Wolf Theiss has advised Eleven Ventures on three start-up investments in Bulgaria, including BibeCoffee, True Insight, and Native Teams.
Schoenherr has advised joint lead managers Erste Group Bank, Intesa Sanpaolo, Landesbank Baden-Wuerttemberg, Landesbank Hessen-Thueringen Girozentrale, Natixis, and TD Global Finance on Erste Group Bank's EUR 1 billion issuance of 3.125% mortgage Pfandbriefe due October 14, 2027. Wolf Theiss advised Erste.
Dentons has advised NEPI Rockcastle on a EUR 200 million secured green real estate financing from Erste Group Bank and Raiffeisen Bank. Wolf Theiss reportedly advised the banks.
Wolf Theiss has advised Mitiska REIM on its acquisition of the Europa Centralna retail center located in Gliwice, Poland.
We are honored and excited to introduce (and extend a big thank you to!) our regional Final Selection Committee of Jurors for the 2022 CEE Deals of the Year awards.
Former Allen & Overy Counsel Katarina Matulnikova has been appointed as the new Managing Partner and Head of the Employment team at Wolf Theiss in Bratislava. She takes over from Jitka Logesova, who had held the position since 2019.
Selling a part of an undertaking and the consequent transfer of a part of the business to another employer raises several practical and legal issues. This applies in particular to employees assigned to several organisational units, including the transferred part of the undertaking. According to CJEU case law, such employees' employment contracts may be divided as long as this does not entail a deterioration in the working conditions and does not adversely affect safeguarding employee rights.
In terms of recent updates, on 25 February the Council of the European Union adopted the tenth package of economic and individual sanctions against Russia in response to the armed conflict in Ukraine, coinciding with the one-year anniversary of Russia's full-scale invasion of Ukraine.
With over 360 lawyers in 13 countries, over 80% of the firm’s work involves cross-border representation of international clients. We have concentrated our energies on a unique part of the world: the complex, fast-developing markets of the CEE/SEE region. Through our international network of offices, we work closely with our clients to develop innovate solutions that integrate legal, financial, and business know-how.
Wolf Theiss provides fully integrated corporate services in mergers and acquisitions, private equity, real estate, banking and finance, tax and insurance, employment law, competition law, energy law, privatisation, restructuring, public procurement and litigation. At Wolf Theiss, we measure our success by the success of our clients. We align our goals with yours to ensure that your needs are being met in even the most complex of cross-border matters. This means that we know how to listen to you and help you use the assets you already have while finding opportunities.
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