CEE Legal Matters

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  • Key Changes in Serbia’s New Environmental Assessment Laws

    The Law on Environmental Impact Assessment (“Official Gazette of the RS,” No. 94/2024) and the Law on Strategic Environmental Impact Assessment (“Official Gazette of the RS,” No. 94/2024) entered into force on 6 December 2024.

    These laws were enacted to achieve greater alignment of national regulations with relevant European Union directives in the field of environmental protection – Directive 2011/92/EU, as amended by Directive 2014/52/EU, and Directive 2001/42/EC. Their implementation shall bring significant changes to environmental protection regulations, aiming to improve protection, enhance public participation, and increase administrative efficiency.

    Ecological Network Area

    A common feature of both the Law on Environmental Impact Assessment and the Law on Strategic Environmental Impact Assessment (“the Laws“) is the introduction of new terms such as “ecological network” and “acceptability for the ecological network,” enabling more precise alignment with the Law on Nature Protection (“Official Gazette of the RS,” Nos. 36/2009, 88/2010, 91/2010 – corr., 14/2016, 95/2018 – amended law, and 71/2021).

    The appropriate assessment for the ecological network is an institute that was introduced into Serbian legislation back in 2010 under the Law on Nature Protection. However, in practice, it has not yet been fully implemented, as the required related regulation has not yet been adopted.

    The ecological network is a coherent, functional, and spatially connected unit established for the conservation of habitat types of special importance for the protection, restoration, and/or improvement of damaged habitats, as well as for the conservation of habitats for wild species of flora and fauna. The appropriate assessment is a process in which the potential impacts of a project on the conservation and integrity of the ecological network area are evaluated.

    The Laws address the relationship between the environmental impact assessment process and appropriate assessment for projects that may have a significant impact on the conservation and integrity of the ecological network area. For projects subject to strategic impact assessment or environmental impact assessment, the appropriate assessment is conducted as part of these procedures.

    The Law on Environmental Impact Assessment prescribes that if a project might have an impact on conservation and integrity of the ecological network area, the main appropriate assessment procedure is conducted in accordance with the Law on Nature Protection, before the issuance of the decision granting consent for the environmental impact assessment study.

    According to the Law on Strategic Environmental Assessment, the appropriate assessment is conducted for plans and programs that, either alone or with other plans, programs, projects, works, or activities, may have a significant negative impact on the conservation goals and integrity of the ecological network area. The preliminary appropriate assessment is carried out before the decision to draft the strategic environmental assessment is made. If the preliminary assessment shows that the project may have an impact on the preservation and integrity of the ecological network area, the main appropriate assessment shall be carried out before the preparation of the strategic impact assessment report.

    Additionally, under the Law on Environmental Impact Assessment, the competent authority, when deciding on a request for an impact assessment for a project that may affect the conservation and integrity of the ecological network area, may decide that an impact assessment is not required only if, based on the conducted procedure and the decision made in the preliminary appropriate assessment, it is determined that the project will not have negative impacts on the conservation and integrity of the ecological network area.

    The provisions of the Laws concerning the appropriate assessment will become applicable two years after the Laws entered into force. 

    Law on Environmental Impact Assessment

    The Law stipulates that, among other things, projects that, alone or together with other projects, may have a significant impact on the environment are subject to environmental impact assessment. It also includes projects that, alone or together with other projects, works, or activities, may significantly impact the conservation and integrity of ecological network areas.

    This prevents a project proponent from intentionally dividing a project to avoid application of the Law (known as “splitting“) and also covers situations where multiple smaller projects, that individually don’t have significant impact, cumulatively create a significant effect (known as “small scale projects“).

    This law also introduces that it is mandatory to obtain the opinion of the Ministry of Environmental Protection when issuing location conditions and it improves the coordination between the impact assessments and other project permits. The connection between the environmental impact assessment study and the decision granting the approval of the project is clearly defined. The environmental protection conditions and measures are now directly included in the decision that approves the project, ensuring that environmental protection is integral and mandatory throughout all phases of the project implementation.

    Additionally, this law introduces longer deadlines for informing of public about submitted requests by the competent authority and for receiving feedback from interested parties, allowing active public participation through an electronic database and central web portal. This database, along with the central web portal will be established by the Ministry of Environmental Protection within three years of the Law’s entry into force.

    Also, fines for legal entities and responsible persons within them who violate this law are increased, significantly raising the responsibility of project proponents when it comes to environmental protection.

    Law on Strategic Environmental Assessment

    The Law on Strategic Environmental Impact Assessment introduces several significant changes, primarily in terms of better coordination between various strategic plans and programs. This law mandates alignment with higher hierarchical levels, reducing the need for dual impact assessment processes. It allows the use of data from previously conducted strategic environmental assessment procedures when assessing significant impacts of plans that belong to the same hierarchical structure. This is a key innovation that contributes to reducing administrative burdens and increasing process efficiency.

    Special focus is put on improving the quality of strategic environmental assessment reports through the formation of expert commissions that will provide opinions and comments, ensuring the accuracy and relevance of the assessments. These commissions will consist of experts from various fields such as water management, mining, energy, etc. This will significantly improve the quality of strategic assessments, as qualified experts can provide their comments on the draft strategic assessment reports, which will be considered by the competent authority for environmental protection when granting consent.

    The new Law on Strategic Environmental Impact Assessment also introduces the mandatory electronic publication of all phases of the process, enabling easy access to documentation and information available in the draft plan and report on strategic environmental assessment. This approach ensures greater transparency and allows for active participation in the decision-making process. The Law also mandates the establishment of an electronic database and web portal by the Ministry of Environment.

    Conclusion

    The adoption of the new Laws on Environmental Impact Assessment and Strategic Environmental Impact Assessment marks a significant step toward aligning with European Union legislation and improving environmental protection in Serbia, substantially enhancing the quality of environmental protection procedures.

    By Jelena Stankovic Lukic, Partner, Katarina Rosic, Senior Associate, and Jana Stanojevic, Associate, JPM Partners

  • DWF and Bakowski Advise on Software Mind’s Acquisition of Core3

    DWF has advised Software Mind on its acquisition of Core3. Bakowski Legal Solutions advised the sellers, Dariusz Dudzinski, Pawel Ciach, Piotr Markiewicz, Michal Moldrzyk, and Iwo Malinowski.

    Software Mind is a subsidiary of Ailleron and Enterprise Investors. It focuses on delivering software development and IT solutions across multiple sectors.

    Core3 specializes in IT services and software engineering.

    The DWF team included Partner Rafal Wozniak, Local Partner Izabela Szczygielska, Counsel Ewelina Madej, Senior Associate Katarzyna Stefaniak, Associates Katarzyna Zajac, Marta Matkowska, and Kamil Ciodyk, Junior Associate Iga Sukiennik, and Legal Intern Szymon Ostrowski.

    The Bakowski team included Partner Igor Bakowski and Senior Associate Patrycja Kurowska.

  • White & Case Advises Rohlik Group on EIB’s EUR 90 Million Scale-Up Financing

    White & Case has advised the Rohlik Group on securing a guaranteed loan of up to EUR 90 million from the European Investment Bank as part of the EIB’s Scale-Up initiative.

    Rohlik is an online food delivery service operating in the Czech Republic, Germany, Hungary, Austria, and Romania. According to White & Case, the funding will enable Rohlik to further automate its distribution centers, enhance customer experience, improve operational efficiency, and facilitate expansion into additional European markets.

    The White & Case team included Prague-based Partner Petr Hudec, Counsel Petr Smerkl, and Associate Josef Levy with further team members in Berlin, Hamburg, and Luxembourg.

    White & Case did not respond to our inquiry on the matter.

  • CCAO Advises J.P. Morgan Securities on USD 400 Million Loan to Petkim Petrokimya Holding

    CCAO, working with Linklaters, has advised J.P. Morgan Securities on a USD 400 million loan to Petkim Petrokimya Holding. Vinson & Elkins reportedly advised Petkim Petrokimya Holding.

    Petkim Petrokimya Holding is a Turkish petrochemical company.

    According to CCAO, the loan covered a “USD 300 million facility agreement with a maturity of 3 years at the first stage in 2023 and the amendment and restatement agreement adding USD 100 million to the existing loan in the last days of 2024, which brings the total amount to USD 400 million and extends the maturity to December 2027.”

    The CCAO team included Partner Candemir Baltali, Senior Associate Onur Gorkem Koksal, and Associate Can Demirkan.

  • Michal Borowski Joins Dentons as Partner

    Former Crido Partner Michal Borowski has joined Dentons as a Partner and will head the firm’s offering related to tax governance, cooperation with the tax administration, and indirect taxes.

    Before joining Dentons, Borowski was with Crido as a Counsel between 2014 and 2016 and as a Partner between 2016 and 2024, while also serving as the firm’s Head of Tax Governance between 2022 and 2025. Earlier, he was with Ozog Tomczykowski as a Senior Associate between 2010 and 2012 and as a Managing Associate between 2012 and 2014. Earlier still, he worked for EY as a Consultant between 2006 and 2008 and as a Senior Consultant between 2008 and 2010.

    “Michal Borowski will contribute to the development of Dentons’ Tax team and expand the services we offer to clients,” commented Partner and Head of Dentons’ Tax Practice in Warsaw Cezary Przygodzki. “His many years of experience in the areas of tax governance and indirect taxes, combined with his ability to effectively cooperate with the tax administration, will give our clients a significant advantage in an increasingly demanding tax environment. Michal’s involvement in the development of cooperation programs and his ability to build lasting and transparent relationships with public institutions align with our strategy of offering comprehensive and innovative solutions.”

  • Robert Porubsky, Petr Tusakovsky, and Martin Vlk Become Partners at Havel & Partners

    Havel & Partners has promoted Robert Porubsky, Petr Tusakovsky, and Martin Vlk to its partnership in the firm’s most recent promotion round.

    Former Counsel Porubsky focuses primarily on energy and M&A. He has been with Havel & Partners since 2018 when he joined as a Managing Associate, before he was promoted to Counsel in 2022. Earlier, he was with BPV Braun Partners as a Senior Associate between 2008 and 2015.

    Tusakovsky, who is also the Tax Director of Havel & Partners, has been with the firm since 2023. Earlier, he spent 15 years with Deloitte between 2008 and 2023, first as a Manager, then as a Senior Manager as of 2014, and as a Director as of 2019.

    Former Counsel Vlk’s primary focus is real estate, M&A, and contract law. He has been with the firm since 2021 when he joined as Counsel. Earlier, he was with JSK as a Senior Associate between 2020 and 2021, as well as with Deloitte Legal as a Managing Associate in 2017 and a Senior Managing Associate between 2017 and 2020. Earlier still, he worked for CMS – first with the firm’s Czech Republic office between 2008 and 2011 as a Legal Assistant and an Associate and then with the UK office as a Trainee Solicitor and an Associate between 2014 and 2017. He also worked for the European Court of Human Rights as a Lawyer between 2013 and 2014.

    “Last year was a major success across the board,” says Managing Partner Jaroslav Havel. “In the new year, we want to continue these positive trends, which also applies to our internal talent development strategy. We have therefore brought three new partners into the company’s top management – top professionals who have long demonstrated exceptional contributions to their teams and bolster the competitiveness of our firm.”

  • Karl-Erich Trisberg Takes Over as Managing Partner at Walless Estonia

    Karl-Erich Trisberg has taken over as the new Managing Partner at Walless Estonia, succeeding Partner Piret Kergandberg.

    Trisberg has been with Walless since 2020, firstly as an Associate Partner and then as Partner since 2021. Earlier, he was with Ellex as an Associate between 2013 and 2016 and a Senior Associate between 2016 and 2020. Earlier still, he was with Freshfields Bruckhaus Deringer as a Lawyer between 2015 and 2016, with Tark Grunte Sutkiene as a Lawyer between 2011 and 2013, and with Nordea Bank Finland’s Estonia Branch as a Legal Counsel between 2010 and 2011.

    “It is a great honor to assume the role of Managing Partner at Walless Estonia,” said Trisberg. “Our strength lies in our people-focused values, an exceptionally talented team, and the deep trust we have built with our clients. My goal is to drive Walless forward in the fast-changing professional services market while ensuring we remain the first choice and a strategic partner for our clients, no matter how complex the challenges they face.”

    Outgoing Managing Partner Piret Kergandberg, who will continue as a Partner, added that “it has been a great privilege to lead Walless over the past five years – a journey filled with change and challenges. I am confident that Karl-Erich’s energy, vision, and dedication will drive Walless to even greater success in the years ahead.” 

    According to Walless, the position of Managing Partner rotates every three to five years in order to ensure that “leaders maintain a strong connection with their daily professional work while periodic changes bring fresh perspectives and ideas to the organization.”

  • Political Turbulence in Georgia and Its Cooling Effect: A Buzz Interview with Vano Gogelia of PwC Georgia

    Georgia’s post-election turbulence has cast a shadow over its business and legal landscape, with pro-EU momentum suspended as of now and investor confidence somewhat shaken, PwC Legal Director and Head of Legal Vano Gogelia reports. Despite the uncertainty, key sectors like construction, infrastructure, and energy remain active, providing cautious optimism amidst widespread challenges.

    “There have been considerable political turbulences following the October 2024 elections, with many expectations tied to their outcome,” Gogelia begins. “After the results, suspicions arose regarding fairness, and then in November, the government unilaterally suspended the EU membership process until 2028, which significantly affected sentiment. This has created an environment fraught with uncertainty, impacting businesses and the legal sector alike.” 

    Initially, Georgia experienced impressive GDP growth and controlled inflation in 2024, but the post-election announcement to suspend the EU membership process “already impacted sectors like HoReCa with further effects still to crystalize and businesses adopting a pessimistic outlook,” Gogelia continues. Moreover, the uncertainty will likely have a cooling effect on the deal landscape. “Despite early 2024’s economic growth driven by redirected economic streams from the Russia-Ukraine war, major foreign investments were absent, with FDI lower than in past years.  Most M&A activity remained largely local, such as for example in alcoholic beverages, also in FMCG sectors that undergo major consolidations. Looking ahead, predicting deal activity is difficult. In the short term, I foresee minimal movement until at least the second quarter of 2025, as investors are likely to adopt a ‘wait and see’ approach pending political resolution,” he explains. “There has been some legislative activity in 2024, particularly efforts to harmonize Georgian legislation with EU standards as part of the EU-Georgia association agreement. However, since the EU membership process suspension, these efforts might slow down.”

    Still, some sectors remain active despite the challenges. “Construction is booming, which has led to a steady stream of legal work related to real estate and infrastructure. Infrastructure and project financing also show promise, and we’re hopeful that activity in these areas will increase,” Gogelia reports. As a result of the geopolitical situation, there is an increasing role of the Middle Corridor, connecting Central Asia to Europe through Georgia, which seems promising for the transport and logistics sector in the future. “Energy remains a key area for Georgia, with a 2024 capacity auction for 800 megawatts of renewable energy likely to attract future investments. Additionally, AML and sanctions compliance have also been prominent, reflecting global trends,” he adds.

    Focusing on specific legal market challenges, Gogelia reports that the judiciary remains a significant bottleneck, “plagued by competence and trust issues, with a massive backlog in administrative cases and increasing perceptions in the legal community of influence of private and public interests in disputes. Without a reliable judiciary, businesses face significant risks, and this lack of trust in the system discourages both local and foreign investment.” According to him, addressing these judicial issues is crucial for the country’s legal market and overall economic stability. “I know of administrative cases that have been delayed for over four years just to reach a preparatory hearing, which illustrates the depth of the issue.”

    Finally, Gogelia says that it is difficult to be overly optimistic given the current climate. “In the short term, I expect a cautious approach from investors and less deal activity. However, if we see some political resolution or renewed efforts toward EU membership, that could change the landscape considerably.” In the meantime, he believes that “sectors like construction, infrastructure, and energy will continue to drive legal work. The focus for law firms will likely remain on providing risk mitigation strategies and helping clients navigate regulatory uncertainty. Despite the challenges, there are still opportunities for those who approach the market with caution and sound legal advice.”

  • TGS Baltic Advises EIB on EUR 60 Million Increase in Multi-Apartment Buildings Renovation Financing in Lithuania

    TGS Baltic has advised the European Investment Bank on amendments to its pre-financing and contingent loan agreements with Siauliu Bankas increasing the bank’s investment from EUR 195 million to EUR 255 million for Lithuania’s multi-apartment building modernization program.

    According to TGS Baltic, Siauliu Bankas has been active in financing these renovation projects for over 12 years, helping renovate more than 3,000 buildings with a total loan volume exceeding EUR 1.2 billion. The additional EUR 60 million in funding aims to further support Lithuania’s objective to modernize most of its multi-apartment buildings by 2050, reducing energy consumption and improving living conditions. “Siauliu Bankas launched the EUR 200 million SB Modernisation Fund 2, financed by Siauliu Bankas itself, the government, with the EIB as a fund manager, as well as Swedbank, the European Bank for Reconstruction and Development, and pension funds managed by the Siauliu Bankas Group in 2024.” (as reported by CEE Legal Matters on February 21, 2024).

    In 2024, TGS Baltic also advised Siauliu Bankas on its EUR 300 million notes issuance (as reported by CEE Legal Matters on September 9, 2024).

    The TGS Baltic team included Managing Partner Vilius Bernatonis, Associate Partner Sebastian Okinczyc, and Legal Assistant Enrika Gudzeviciute.

    TGS Baltic did not respond to our inquiry on the matter.

  • D&B David and Baias Advises Altex on Acquisition of Brico Depot’s Romanian Network from Kingfisher

    PwC’s Romanian affiliate D&B David and Baias has advised the Altex group, owned by Romanian entrepreneur Dan Ostahie, on its acquisition of Brico Depot’s Romanian network from Kingfisher. Filip & Company and A&O Shearman reportedly advised Kingfisher.

    The transaction remains contingent on regulatory approval.

    Brico Depot Romania operates a network of DIY and home furnishing stores. 

    The D&B David and Baias team included Managing Partner Sorin David, Counsel Romana Petre, Senior Managing Associates Alice Spridon, Georgiana Balan, Daniel Vinerean, Sonia Balanescu, Sonia Voinescu, and Associates Irina-Maria Neagu, Mihaela Panfilii, Diana Muresan, and Crina Anastasia Petrache.