Noerr has advised the StoneX Group on the lease of 3,700 square meters of office space in Krakow's Mogilska 35 Office building owned by Warimpex.
E+H and Noerr Advise Coveris on Acquisition of S&K Label in Czech Republic
E+H and Noerr have advised Coveris on the acquisition of S&K Label in the Czech Republic. Deloitte Legal reportedly advised the sellers.
Poland’s Family Foundation Act: Celebrating its First Anniversary
For many years it has been clear for Polish entrepreneurs that there is no simple legal answer to their strong need to secure their family assets, and above all their family businesses, for future succession. Due to the lack of appropriate instruments in the Polish legal system, many national entrepreneurs were forced to use the legal institutions of other jurisdictions. This solution was highly uncomfortable because of the differences in legal regimes and foreign legal requirements that did not entirely meet the needs of domestic entrepreneurs.
Turunc Advises Ascential on Sale of WGSN to Apax Partners
Turunc, working with Travers Smith, Slaughter & May, and Fried Frank, has advised Ascential on the sale of its WGSN global consumer trends forecasting and product design business to funds advised by Apax Partners for a total enterprise value of up to GBP 700 million. Reportedly, August Debouzy, Bowman Gilfillan, Chiomenti, Clayton Utz, FCR Law, Gomez-Acebo & Pombo, Howse Williams, Latham & Watkins, and Noerr advised Ascential as well. Allen & Overy and Kirkland & Ellis reportedly advised Apax Partners.
Schoenherr, CMS, and Noerr Advise on Ullo Logistic Center Agreements Between OTP REIF, Rossmann, and Panattoni
Schoenherr has advised the OTP Real Estate Investment Fund on its purchase of a land plot in Ullo, Hungary, from Rossmann, the development agreement for a BTS logistic center on the site with development manager Panattoni, and a long-term lease agreement for the facility with Rossmann as tenant. CMS and Noerr advised Panattoni. PwC Legal reportedly advised Rossmann.
Noerr and Baker McKenzie Advise on Bauer Media Sale of Semergy Group to WeNet
Noerr has advised Bauer Media on its sale of the Semergy Group to the WeNet Group. Baker McKenzie advised WeNet.
Luiza Bedros and Sebastian Popescu Make Associated Partner at Noerr in Bucharest
Noerr Attorney-at-Law Luiza Bedros and Counsel Sebastian Popescu have been appointed as Associated Partners in the firm's Bucharest office. Cristina Stamboli, Oana Piticas, and Alexandru Dan were all elevated to Counsel during the same promotion round.
Understanding Legal Compliance for Domestic Businesses in Hungary
In Hungary, adherence to regulatory requirements is pivotal for the operations of domestic legal entities or businesses. Recently, there have been discussions regarding the significance of possessing a domestic bank account as mandated by Hungarian law, and the implications for companies failing to meet these criteria.
BSRP Advises ITK Holding on Acquisition of Omnibus Hungaria
Ban, S. Szabo, Rausch & Partners has advised ITK Holding on its acquisition of Omnibus Hungaria Kereskedelmi es Szolgaltato, a joint venture of EvoBus and Pappas Holding. Noerr reportedly advised the sellers.
Dorda and Noerr Advise Alcmene Group on Acquisition of 25% Stake in Miro
Dorda, working alongside Noerr's German and Belgian offices, has advised the Alcmene Group on its acquisition of a 25% stake in German oil refinery Miro. Taylor Wessing Germany reportedly advised Miro shareholder Esso Deutschland on the sale.
Poland: New State Aid Instrument
The Polish government has presented detailed conditions and modalities for providing support to investment projects of strategic importance for the transition to a net-zero-emission economy. The new State aid instrument implements the EU programme “Temporary Crisis Framework for State Aid measures to support the economy following the aggression against Ukraine by Russia”. The new financial support is to be regarded as a further incentive effect to attract new investments to Poland.
Romania: Important Fiscal Measures Published for Reducing the Budget Deficit
On 26 September, the Romanian Government approved by way of Law No. 296/2023 (the “Law”) important fiscal measures intended to reduce the budget deficit and ensure long-term financial stability. After multiple debates, the Law was published in Official Gazette No. 977 of 27 October 2023.
Noerr Advises Vrancart on NRRP Financing for 20-Megawatt Photovoltaic Park in Romania
Noerr has advised Romanian corrugated cardboard and tissue paper company Vrancart on the National Recovery and Resilience Plan financing for its construction of a 20-megawatt photovoltaic park.
CMS Advises Panattoni Hungary on Two Built-to-Suit Projects
CMS has advised the Hungarian branch of Panattoni on a dual built-to-suit contract to develop two manufacturing facilities in Debrecen and Kecskemet, covering 30,000 square meters, for a German automotive supplier. Noerr reportedly advised the counterparty.
Poland: 5G Auction Announced Once Again. Cybersecurity Issues Still Unresolved.
On June 22, 2023, the Polish telecommunications regulator (the President of UKE) announced an auction of 3,6 GHZ frequencies intended for the 5G network. The auction will consist of a few phases, including submissions of initial bids, a formal assessment, trial auctions, auctions, and reservations of frequencies. It is expected that the auction will be settled this year. Despite the announced plans, the auction is affected by significant cybersecurity issues which have yet to be resolved.
Country-by-Country Public Reporting Implemented by Romania Starting 1 January 2023
By Order no. 2.048/2022 amending accounting regulations applicable to economic operators (“the Order”), published in Official Gazette no. 878/07.09.2022, the Romanian authorities have transposed into national law the provisions of EU Directive 2021/2101 of the European Parliament and of the Council of 24 November 2021 (“the EU Directive”) amending Directive 2013/34/EU as regards the disclosure of income tax information by certain undertakings and branches.
Poland: No Building Permit Needed for Construction of Single-Family Building Over 70 Square Meters
A building permit, according to Polish construction law, is the administrative decision authorizing the commencement and the carrying out of construction or the execution of building work other than construction of a building structure.
Guest Editorial: Adaptability in Times of Change
Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?