CEE Legal Matters

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  • Will the Hungarian ESG Act Be Amended Once Again?

    The Hungarian Ministry of National Economy published a bill to amend the ESG Act on 21 March 2025, simultaneously launching a public debate on the proposal. According to the official justification, the amendment aims to optimise the ESG reporting framework for sustainability aspects of Hungarian enterprises, to further strengthen the competitiveness of enterprises and to reduce the reporting and administrative burden on enterprises.

    The simplification package of the European Union can be seen as a precursor to the proposed amendment to the Hungarian ESG Act. According to the EU Competitiveness Compass published on 29 January 2025, the Commission will deliver an unprecedented simplification effort. To ensure sustained and measurable efforts over the years ahead, the Commission has set ambitious quantified targets for reducing reporting burden: at least 25% for all companies and at least 35% for SMEs. Further to this, the EU Competitiveness Compass states that the 25% and 35% burden reduction targets should, in the future, refer to the costs of all administrative burdens, and not only reporting requirements.

    Although the Hungarian ESG Act is not directly derived from EU legislation, in line with the Commission’s objective, the Hungarian ESG Act also needed to be amended to ensure the competitiveness of enterprises in Hungary. Based on the proposal, large companies covered by the ESG Act will be given an additional period of two years to prepare their first audited ESG report, while Hungarian micro, small and medium-sized enterprises will be fully exempted from all ESG data provision under the ESG Act until mid-2027 and will only be required to complete a significantly shortened questionnaire thereafter. Based on the given additional two-year preparation period, large companies covered by the ESG Act would have to publish their first ESG report in 2028. Another significant change is that the corrective measures that enterprises have to take in certain cases would be mitigated.

    Most of the amendments would enter into force on the third day after publication of the final act. However, the content of the proposal may change as a result of the opinions received during the public debate, which lasted until 29 March 2025, so it is worth monitoring the progress.

    By Tamas Zsiros, Associate, KCG Partners Law Firm

  • Schoenherr Advises Bank Pekao on Financing for Prime PV Group

    Schoenherr has advised Bank Pekao on the financing granted to Prime PV Group.

    Prime PV Group is a renewable energy company focused on developing and operating photovoltaic assets in Poland. 

    Headquartered in Warsaw, Bank Pekao is one of Poland’s largest universal banks and financial services providers. 

    The Schoenherr team included Partner Ilona Fedurek and Senior Attorney at Law Piotr Bartos.

  • Reals Advises Conseq Realitni on Sale of A7 Office Center in Prague

    Reals has advised Conseq Realitni on the sale of the former brewery in Prague’s Holesovice district, known as A7 Office Center. Steinwicht reportedly advised the buyers.

    According to Reals, this administrative and business complex offers both office and commercial spaces across four separate objects, with a total floor area of 15,150 square meters and 197 parking spaces available.

    Earlier in 2025, Reals advised Conseq Realitni on the acquisition of the EA Hotel Atlantic Palace in Karlovy Vary (as reported by CEE Legal Matters on January 15, 2025). In 2024, the firm advised on Conseq Realitni’s acquisition of Ctyri Dvory Shopping Center from Reico IS CS (as reported by CEE Legal Matters on September 17, 2024).

    The Reals team included Partner Miroslav Dudek and Attorney at Law Filip Balousek.

  • CMS Belgrade Launches Dedicated Corporate Crime Team in Belgrade

    CMS has launched a new dedicated Corporate Crime team within its Dispute Resolution and Compliance practice in Belgrade with the joining of Denis Beciric as Of Counsel.

    According to CMS, the launch builds on “many years of hands-on experience in advising and representing clients in complex white-collar matters, including fraud, corruption, cybercrime, embezzlement, sanctions, and more. This step marks a new phase for our Dispute Resolution and Compliance practice, as we bring together a focused team of legal professionals with deep knowledge of corporate criminal law and regulatory risk management.”

    Before joining CMS, Beciric spent the past ten years in private practice, since 2015. Earlier, he was a Judge with the First Basic Court in Belgrade between 2002 and 2015.

  • Cerha Hempel and Schoenherr Advise on Flughafen Wien’s Joint Venture with Bradford for Logistics Centre

    Cerha Hempel has advised Flughafen Wien on a joint venture with international logistics company Bradford Airport Logistics to establish Vienna Airport Logistics GmbH. Sidley Austin and Schoenherr advised Bradford Airport Logistics.

    According to Schoenherr, “starting in 2027 and made possible through the establishment of Vienna Airport Logistics, all flows of goods for Vienna Airport’s Terminal 3 Southern Expansion and all passenger areas will be efficiently, securely, and sustainably routed through a centralized logistics hub to more than 100 shops and restaurants. Every delivery to the terminals will be conducted via a centralized system, the cornerstone of which will be a 6,000-square-meter logistics center.”

    The Cerha Hempel team included Partners Johannes Aehrenthal and Anna Wolf Posch, Counsel Wolfgang Schreiner, Senior Associate Philipp Schaubach, and Associate Thomas Stedronsky.

    The Schoenherr team included Partners Michael Marschall, Volker Weiss, Dominik Hofmarcher, Constantin Benes, and Johannes Stalzer, Attorneys at Law Lukas Pirringer, Alexander Pabst, and Franziska Oczlon, and Associates Georg Winkler, Alexandru Caprau, and Laura Zobernig.

  • Maja Mayrhuber Joins Kinstellar’s Vienna Office as Partner

    Kinstellar has announced Maja Mayrhuber as the fourth Partner to join its new Vienna office.

    Mayrhuber’s primary area of focus is tax law. Before joining Kinstellar, Mayrhuber spent the past six years in private practice, since 2019. Earlier, she worked for Binder Groesswang as an Associate between 2014 and 2019. Earlier still, she was a Tax Assistant with Deloitte between 2011 and 2014 and, earlier still, an Assistant with PEEZ Handels between 2009 and 2011.

    “We are delighted to welcome Maja to Kinstellar,” commented Firm Managing Partner Kristof Ferenczi. “Her expertise enhances our ability to provide clients with wide-ranging legal support in Vienna. She is an excellent addition to our growing team in Austria.”

    The hire follows the recent addition of Hartwig Kienast (as reported by CEE Legal Matters on April 15, 2025) and Philipp Kapl as Partners (as reported by CEE Legal Matters on February 7, 2025). Kinstellar launched its Vienna office this year, with Horst Ebhardt at its helm (as reported by CEE Legal Matters on January 6, 2025).

  • Gecic Law Appoints Jelena Bjelanovic as Head of Finance and Executive Management Committee Member

    Gecic Law has appointed Jelena Bjelanovic as its new Head of Finance and a member of the firm’s Executive Management Committee.

    Bjelanovic has been with the firm since 2024. Previously, she worked for Johnson Electric as a Senior Finance Manager between 2021 and 2025 and in 2018 and was also a Finance Manager with the company between 2015 and 2018. Moreover, Bjelanovic was the Finance Manager for Norma Group in 2020 and the Head of Finance, Controlling, and IT for ZF Group between 2018 and 2020. Earlier still, she was with Delhaize as a CFO in Montenegro between 2011 and 2012, as an Accounting and Tax Director in Belgrade between 2012 and 2013, a Director of Finance and Accounting in Banja Luka between 2013 and 2014, and as the Director of Business Process Management in Belgrade between 2014 and 2015.

    Bjelanovic was also a Senior Consultant for Deloitte between 2005 and 2011, a Finance Manager for the ITM Group between 1996 and 2005, and a CFO for Mega Trade System between 1999 and 2004. She began her career as an Audit Junior for Deloitte between 1995 and 1996.

    According to the firm, in her new role, Bjelanovic will “oversee the firm’s financial operations and strategic financial planning. Furthermore, as part of the Executive Management Committee, she will play a vital role in driving the firm’s growth, helping foster innovation, and ensuring operational excellence across the firm.”

    “We are thrilled to welcome Jelena to our executive leadership team,” said Founding Partner Bogdan Gecic. “Her global experience and forward-thinking financial leadership will be instrumental to our strategic goals. I am confident she will be invaluable in helping us reach new heights.” 

  • TGS Baltic Successfully Represents Neverhack in Public Procurement Dispute on Cybersecurity Services

    TGS Baltic has successfully represented Neverhack Estonia in a dispute arising from the North Estonia Medical Centre’s Cybersecurity Services and Platform 2 public procurement.

    Neverhack Estonia provides cybersecurity operations center software solutions to public and private sector clients.

    According to TGS Baltic, the procurement, designed to secure a digital solution for a major hospital to detect and mitigate cyberattacks more quickly and effectively, initially declared Neverhack Estonia’s bid successful. However, the decision was challenged by competitor ByteLife Solutions. The Public Procurement Review Committee and the Tallinn Administrative Court ultimately held that the initial decision was lawful and that the bid evaluation was conducted properly.

    The TGS Baltic team included Partner Priit Latt and Associate Gregor Saluveer.

  • DLA Piper Advises Autoliv on Virtual Power Purchase Agreements

    DLA Piper has advised Autoliv on two Virtual Power Purchase Agreements with renewable electricity producers Alight and Eurowind Energy. 

    Autoliv is an automotive safety supplier. According to DLA Piper, the two VPPAs – comprising a 100-megawatt-peak solar park in Eurajoki, Finland, and a 48-megawatt wind park in Romania – provide a combined renewable capacity of 148 megawatts. The VPPAs, which span 12 years (from 2027 to 2039), secure a long-term supply of clean electricity for Autoliv’s operations while combining solar and wind technologies to optimize energy generation throughout the day and night. 

    Moreover, DLA Piper reports that the 100-megawatt-peak solar park in Eurajoki is projected to produce 100 gigawatt-hours annually – meeting the electricity needs of approximately 20,000 households – with construction scheduled to begin this spring and operations commencing in 2026. Meanwhile, the 48-megawatt wind park in Romania is expected to generate approximately 176 gigawatt-hours annually, with an operational target set for 2027.

    The DLA Piper team included Romania-based Partner Paula Corban, Managing Associate Teodor Sabau, and Counsel Georgiana Stan with further team members in London, Leeds, and Finland.

    DLA Piper did not respond to our inquiry on the matter.

  • Clifford Chance Advises Finep on Sale of Stodulky Residential

    Clifford Chance has advised Finep on the sale of its Stodulky Residential rental project to Reico Nemovitostni. Wilsons reportedly advised Reico Nemovitostni.

    Finep is a Czech Republic-based real estate developer that has been operating for 30 years.

    Reico Nemovitostni is a real estate fund in the Czech Republic. It has a portfolio of 20 properties across the Czech Republic, Slovakia, and Poland valued at nearly CZK 38 billion.

    According to Clifford Chance, Stodulky Residential is part of the Britska Ctvrt development and comprises 219 modern rental apartments across three buildings with a total floor area of 10,400 square meters. Construction is scheduled to commence in April 2025 and is expected to be completed within three years.

    The Clifford Chance team included Partner Milan Rakosnik, Associate Jan Christelbauer, and Junior Lawyer Filip Crncevic.