CEE Legal Matters

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  • Mandatory Land Exchange for New Solar Power Plant Investments

    The new Hungarian Architecture Act stipulates that areas designated as green zones, agricultural zones or forest zones cannot be selected as new development zones or special non-development zones.

    Since most solar power plant investments take place in such special non-development zones, these areas are often affected by the new regulations. An exception is allowed if a replacement area of equal size and with the same or higher biological activity value is designated within the administrative boundaries of the same municipality as the new development zone. This replacement area must be classified as a green zone, agricultural zone, or forest zone. The new rule’s essence is that the overall size of green areas within a municipality’s administrative boundaries must not decrease.

    Solar power developers criticize the new rules, since replacement areas cannot be designated outside the municipality’s administrative boundaries. Additionally, the designation of replacement areas involves extra costs, as these areas often require recultivation. Another obstacle is that, according to the regulation, new development zones can only be selected for an investment in case of significant public interest.

    Installing 1 megawatt (MW) of capacity requires 1 hectare of land. Due to high connection fees and the need for cost-effective operation, larger projects (20-50 MW) are more popular, which also means greater land requirements. The new regulation is likely to negatively impact many planned (and capacity-approved) projects, necessitating a reassessment of costs and legal requirements.

    By Lilla Majoros, Attorney at Law, KCG Partners Law Firm

  • Croatia Set to Introduce Proper FDI Screening Mechanism

    The Croatian Government is preparing to establish a comprehensive system for screening foreign direct investments (FDIs) by adopting the new Act on the Screening of Foreign Direct Investments (the “Act”).

    The Act will align the current Croatian legal framework with Articles 3 and 4 of EU Regulation 2019/452, ensuring compliance with European Union standards for investment screening. The draft Act is still not available to the public. According to the Croatian Government’s plan of legislative activities for 2025, the new Act and its implementation are now in the hands of the Ministry of Finance, with finalisation expected in the first quarter of 2025 (available at: https://esavjetovanja.gov.hr/Econ/MainScreen?entityId=29008).

    Current regulation of foreign direct investments: The Regulation on the Implementation of EU Regulation 2019/452 entered into force on 2 October 2020. This implementing regulation only established the National Contact Point and the Interdepartmental Commission as the competent authorities for a coordination mechanism under the EU FDI Screening Regulation. It did not introduce any screening mechanism.

    What will the new Act bring? As provided in the plan of legislative activities for 2025, key provisions of the new Act will cover the scope of critical infrastructure and activities subject to screening, the responsibilities of state authorities and public bodies, notification requirements, confidentiality and data protection measures, and transparent decision-making timelines. By establishing this mechanism, Croatia aims to safeguard its critical infrastructure and to transparently and efficiently evaluate the potential risks posed by foreign investments in accordance with EU standards. Given that the draft text is still not publicly available, the exact content of the regulation remain unknown.

    By Ana Mihaljevic, Attorney at Law, Schoenherr

  • Havel & Partners and AK Evan Advise on Emeis/SeneCura Group’s Sale of Czech Nursing Homes and Alzheimer Centers to Penta Healthcare

    Havel & Partners has advised the Emeis/SeneCura Group on the sale of its Czech nursing home and Alzheimer center operations to the Penta Healthcare Group. Jan Evan Advokatni Kancelar advised the Penta Healthcare Group.

    The transaction remains contingent on regulatory approval.

    The Emeis/SeneCura Group provides long-term care and rehabilitation services. According to Havel & Partners, the nursing home operations total approximately 2,200 beds across 17 facilities.

    Penta Hospitals International is a healthcare group that manages nearly 60 facilities in the Czech Republic, Poland, and Slovakia.

    The Havel & Partners team included Partner Martin Peckl, Counsel Roman Svetnicky, and Senior Associates Robin Stork and Martin Rott.

    The AK Evan team included Partner Jan Evan and Senior Associate Petr Schmier.

  • Squire Patton Boggs Successfuly Represents Slovak Republic

    Squire Patton Boggs has successfully represented the Slovak Republic in an investment treaty claim originally worth USD 2.11 billion.

    According to Squire Patton Boggs, “the claim, Discovery Global LLC v Slovak Republic was brought by the US oil and gas company Discovery Global under the US-Slovakia bilateral investment treaty. Having acquired licenses for oil and gas exploration in eastern Slovakia, Discovery Global alleged that the government had effectively sabotaged the project through its failure to stop environmental protestors from blocking access to well sites, and by requiring a full environmental impact assessment under Slovak law. The tribunal dismissed the case in its entirety and also awarded the Slovak Republic the majority of its costs. The Slovak Republic remains one of the few countries in the world that has not lost in international investment arbitration and has not been ordered to pay any compensation of damages to the claimants.”

    The Squire Patton Boggs team included Slovakia Office Managing Partner Tatiana Prokopova, Partners Stephen Anway, Rostislav Pekar, and Dave Alexander, Of Counsels Jakub Kamenicky and Eva Dragunova, and Associates Douglas Pilawa and Christina Luo.

  • Schoenherr and Wolf Theiss Advise on Erste Group’s EUR 1 Billion Mortgage Pfandbriefe Issuance

    Schoenherr has advised the managers involved on the Erste Group Bank’s issuance of EUR 1 billion 3% mortgage Pfandbriefe due 2032. Wolf Theiss advised the Erste Group Bank.

    The banking consortium that worked on the issuance included BayernLB, BMO Capital Markets, DekaBank, DZ Bank, Erste Group, Landesbank Baden-Wuerttemberg, and UniCredit as the joint lead managers as well as La Banque Postale as a co-lead manager.

    According to Schoenherr, the notes were successfully issued on January 20, 2025, under the Erste Group’s covered bonds Program and placed with professional clients and eligible counterparties. “The notes, rated Aaa by Moody’s, are due in April 2032 and have a denomination of EUR 100,000. They are listed at the Official Market of the Vienna Stock Exchange.”

    The Schoenherr team included Partner Christoph Moser, Attorneys at Law Angelika Fischer and Christian Cacic, and Paralegal Clemens Stockhammer.

    The Wolf Theiss team included Partner Claus Schneider, Counsel Eva Stadler, Senior Associate Sebastian Prakljacic, Associates Rainer Holweg and Magdalena Bertsch, and Legal Trainee Negar Hashemi.

  • Asters Launches Forensic Practice

    Asters has launched a new Forensic practice headed by Counsel Sviatoslav Ogreba.

    According to the firm, the practice “focuses on fraud detection, economic crime investigation, and developing protective measures against financial, operational, and reputational risks. Its lawyers provide a comprehensive analysis of the companies’ activities to support decision-making for business owners, investors, and senior management.”

    Ogreba has been with the firm since 2019. Earlier, he worked for the National Bank of Ukraine between 2015 and 2019. Earlier still, he was an Auditor with PwC between 2014 and 2015 and KPMG between 2011 and 2012.

    “The ongoing war in Ukraine has created unprecedented challenges for local businesses,” said Ogreba. “Office destruction, persistent cyberattacks, military mobilization, and widespread business migration – these conditions have created opportunities for fraudsters while making investigations more complex. We have launched Forensic practice in response to growing demand for sophisticated business protection services, offering our clients expert guidance and practical solutions for risk mitigation and decision-making.”

  • Bogdan Cordos Makes Partner at RTPR

    Bogdan Cordos has been promoted to Partner at RTPR.

    According to RTPR, Cordos primarily focuses on energy projects but has “also gained experience in various practice areas such as corporate, banking & finance, regulatory and real estate.” He has been with the firm since 2011, joining after graduating from the Alexandru Ioan Cuza University’s Faculty of Law.

    “Bogdan’s promotion to partner is a recognition of his consistent efforts and exceptional contribution to the development of our energy practice,” commented Managing Partner Costin Taracila. 

    “I am honored to accept this new role at RTPR, the law firm where I started my career and developed as a professional,” Cordos added. “I enthusiastically join the RTPR partnership team and their trust further motivates me to contribute to the team’s growth and RTPR’s success.”

  • Eniko Uveges Promoted to Lead Legal Counsel at Grundfos

    Eniko Uveges has been promoted to Lead Legal Counsel at Grundfos.

    Grundfos is a water solutions company.

    Uveges has been with Grundfos since 2022 when she joined as a Global HR Legal Counsel. Earlier, she was the Head of the In-House Legal Department at Deloitte Hungary between 2019 and 2022 (as reported by CEE Legal Matters on May 28, 2019). Earlier still, she was a Lead Lawyer with Cargill between 2013 and 2019, a Corporate Director with HungaroControl between 2011 and 2013, as well as a Legal Director with GTS Hungary between 2008 and 2011. Moreover, she was a Legal Counsel with GTS-Datanet between 2004 and 2008 after beginning her career as an Attorney at Law with Forgo, Varga, and Partners between 2001 and 2004.

    Originally reported by CEE In-House Matters.

  • Adina Vlaicu, Andreea Mihalache, and Mirel Radescu Make Partner at Popescu & Asociatii

    Popescu & Associatii has promoted Adina Vlaicu, Andreea Mihalache, and Mirel Radescu to Partner.

    Vlaicu focuses her practice on prevention and compliance. She has been with the firm since 2021, when she joined as a Senior Associate. She became a Managing Associate in 2023. Earlier, she worked at Musat & Asociatii between 2015 and 2021 as a Senior Associate. Earlier still, she worked at Danila, Petre & Asociatii as an Associate between 2011 and 2013 and a Senior Associate between 2013 and 2015.

    “This promotion is a defining moment in my professional career,” commented Vlaicu. “I am grateful to the Popescu & Asociatii team for their trust and proud to contribute with all my ability to the success and excellence of our firm.”

    Mihalache’s primary areas of focus are public-private partnership projects and litigation and disputes. She has been with the firm since 2021, when she joined as a Lawyer. Earlier, she was at the helm of her own law firm, Mihalache & Asociatii, between 2013 and 2021. Earlier still, she worked at Popovici, Nitu si Asociatti as a Managing Associate between 2010 and 2013 and with Musat & Asociatii as a Managing Associate between 2002 and 2010.

    “I am honored to be part of a team that supports excellence and professionalism,” said Mihalache. “To add value to any project requires innovative solutions, and here at Popescu & Associatii, I have always found the environment to achieve this.”

    Radescu focuses primarily on corporate investigations and white-collar crime. He has been with the firm since 2022, when he joined as an Attorney at Law. Earlier, he was a Prosecutor of the Directorate for the Investigation of Organized Crime and Terrorism and of the High Court of Cassation and Justice Prosecutor’s Office between 2007 and 2022.

    “Joining the management structure of one of Romania’s most prominent law firms marks both a height and a new chapter in my career, but above all an additional motivation to confirm the trust, rigorously continuing to develop winning strategies for our clients,” commented Radescu.

    “We have constantly committed ourselves to support and capitalize on the team’s performance, and these decisions come as a recognition of the significant contribution made over time by Adina, Andreea, or Mirel in our projects,” commented Managing Partner Octavian Popescu. “They are elite professionals, with notoriety and remarkable impact in their fields of expertise, and their presence in our coordination structure strengthens Popescu & Associatii’s position as a reliable legal partner in the business environment in Romania and beyond.”

  • Deal of the Year Full Nomination List and CEE Deals of the Year Awards Banquet and CEE General Counsel Summit Registration Now Open

    All submissions for the CEE Deal of the Year Awards have been processed and voting ballots are with our country panel jurors. CEE Legal Matters received 325 submissions for the Deals of the Year Awards for 2024, covering 22 countries. 

    Based on all these submissions, a total of 217 deals are eligible for one or (in some cases) multiple awards this year.

    The full list of nominated deals is published here. The list was not included for jurisdictions with 3 or less eligible submissions (Albania, Bosnia and Herzegovina, Greece, Montenegro, and North Macedonia) as those are automatically shortlisted and will be announced on January 29. 

    The winners of the 2024 Deals of the Year award in each country will be announced at the annual CEELM Deal of the Year Awards Banquet scheduled for April 1, 2025, in Prague. Early Bird Registration is now open for the awards banquet here.

    The awards gala will be held, like it has for the past two years, in conjunction with the CEE General Counsel Summit, due to take place in Prague on April 1-2, 2025. We are thrilled to have the event benefit from the support of returning event partners Slaughter and May (as Chairman) and Act Legal, Addleshaw Goddard, Musat & Asociatii, Pontes, and PRK Partners, together with new event partners AMB Legal Group and Karanovic & Partners. This is the 7th edition of our regional GC Summit and you can find out more about the event here.

    In the meantime, our thanks to everyone who submitted deals for consideration. We appreciate the time and effort you put into the process, and we – like you – are eager to see the results and celebrate the winners this spring in Prague. Good luck, one and all!