24
Mon, Jun
60 New Articles

Drakopoulos has advised the European Commission's Directorate-General for Energy on reviewing the transposition process of Directive 2018/2001 (RED II) on the promotion of the use of energy from renewable sources into the Greek legal framework. Dimitrov Petrov & Co, Kirm Perpar, Wardynski & Partners, and Kinstellar Croatian affiliate Zuric i Partneri advised on the transposition review in Bulgaria, Slovenia, Poland, and Croatia, respectively. CLM Bitai & Partners and Vojcik & Partners also reportedly advised the European Commission.

With the war in Ukraine raging for more than six months, law firms across the region have reported increased workloads in corporate and M&A, tax, employment, immigration law, and inquiries on the sanctions regimes in relevant jurisdictions, noting that companies from Ukraine, Russia, and Belarus are variously looking for a new home. Whether to avoid sanctions or escape the war, those companies consider a variety of factors in determining where to go.

Allen & Overy has advised the UniCredit Bank Czech Republic and Slovakia on the update of its international mortgage-covered bond program and EUR 500 million issuance of mortgage-covered bonds. White & Case advised the joint lead managers.

Dentons has advised a club of banks led by Tatra Banka and including UniCredit Bank Czech Republic and Slovakia, Slovenska Sporitelna, and Ceskoslovenska Obchodni Banka on a EUR 160 million ESG-linked syndicated loan to MH Teplarensky Holding. BBH reportedly advised the borrower.

In April 2022 deputies of the Slovak parliament, approved two long-awaited laws: Act No 200/2022 on zoning (‘the Zoning Act’); and Act No 201/2022 on construction (‘the Construction Act’). These two laws are about to replace the 1976 Building Act. Although they do not take effect until 1 April 2024, they bring such fundamental changes that need to be considered right away, in particular by the developers and real estate investment funds. The most significant of these changes are summarised below.

Following a long lasting process since 2010 the European Court of Human Rights (the “ECHR”) held that Slovakia violated right to property due to the refusal of its courts to enforce an International Chamber of Commerce (the “ICC”) arbitral award ruling that the National Property Fund of Slovakia (the “NPF”) was due to pay BTS Holding (“BTS”) approx. EUR 1.9 million plus interest. (the “Decision”)

New investment screening legislation entered into force on 1 March 2021. Under the new FDI regime the acquisition of a shareholding in certain designated entities or of the business of these entities needs to be reported and may be subject to approval of the Slovak Government.

Dentons has advised a syndicate of banks led by Ceska Sporitelna, and including Ceskoslovenska Obchodni Banka and Komercni Banka, on the financing of KKCG Group and Aricoma Group’s acquisition of Musala Soft. Polenak, Boyanov & Co, and, reportedly, Andric and TM & Partners advised the banks as well. Clifford Chance advised Aricoma Group on the deal.

Our Latest Issue