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In recent years, a principal aim of Hungary’s energy strategy has been to make the country self-sufficient in electric energy. In figures, this means reducing the import to 0% within ten years – as the country’s current dependency on import of approximately 30% is significantly above the EU average. The increasing price of gas and the decreasing price of electricity led to a decrease in the domestic production of natural gas, so the Hungarian energy policy had to turn to alternatives.

Gide Poland, Wolf Theiss Hungary, Switzerland's Python law firm, and King & Spalding Germany have advised Steinhoff International Holdings on the sale of its European companies to the Cotta Group. The buyer was reportedly advised by SSW Solutions. 

Greenberg Traurig has represented Cromwell European Real Estate Investment Trust, acting through its subsidiaries, on the acquisition of 16 predominantly freehold office properties in Poland, the Netherlands, and Finland. The sellers, reportedly represented by White & Case in London and Finland and Wolf Theiss in Warsaw, were entities related to Goldman Sachs. Allen & Overy reportedly acted as a legal counsel to the financing banks.

CMS Kyiv has advised international real estate investment fund Meyer Bergman on Ukrainian and English law aspects of its sale of the Aladdin Shopping Mall in Kyiv to Ukrainian Commercial Property Investment Holding, part of Dragon Capital. Aequo advised the sellers on the deal, while Wolf Theiss advised Sompo International on its provision of M&A warranty and indemnity insurance for the acquisition.

The 2019 Hungarian tax law changes, among other measures, have introduced a new group taxation regime and reflect the implementation of the provisions set out in the European Union’s Anti-Tax Avoidance Directive (ATAD). 

On October 29, 2018, leading Austrian law firms Dorda, Eisenberger & Herzog, Herbst Kinsky, PHH, Schoenherr, SCWP Schindhelm, and Wolf Theiss announced their joint launch of the “Legal Tech Hub Vienna”: a non-profit forum for LegalTech companies, start-ups, and other legal market participants to identify innovation potential and work together to implement technological tools appearing ever-more-rapidly on the legal market.

CEE Legal Matters has learned that, after ten years in CEE, and shortly after attending the annual Deal of the Year Awards Banquet in Budapest, Wolf Theiss Warsaw Co-Managing Partner Ron Given – a key member of the Deal of the Year Final Selection Committee, as he was last year – will be bidding adieu to the region and heading back home. We reached out to Given, a long-time friend of and supporter of CEE Legal Matters, to learn more, and to get his thoughts on a productive, profitable, and geographically-diverse decade in Central and Eastern Europe.

The new Hungarian Code of Civil Procedure (the “Code”) came with a number of ambitious promises, many of which have already been addressed in CEE Legal Matters. However, a prominent promise, namely increasing the transparency and predictability of litigation, has not yet been discussed in these pages.

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