CEE Legal Matters

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  • Dentons Advises P3 on Logistics Portfolio Acquisition

    Dentons has acted as legal counsel to P3, the specialist owner, developer, and manager of European logistics properties, on the acquisition of a portfolio of three logistics parks — two in Poland and one in Romania — from CA Immobilien Anlagen.  

    The portfolio totals 467,000 square meters of lettable area. The transaction also includes approximately 165 hectares of land for development, principally in Poland and Romania.

    In Poland, the 177,000 square meters park at Blonie is located close to the Warsaw city center. Tenants include large traditional and online retailers like Bayer, IBM, Orange, Triumph, and Allegro. The park also offers 17 hectares of development land. The second park is located near Piotrkow, South East of Lodz in central Poland. It consists of 75,000 square meters of space and direct road links to Warsaw, Wroclaw and Katowice. The park is on a 120 hectare plot, offering scope for development.

    The Bucharest Park is the largest of the three standing assets acquired by P3, consisting of 215,000 square meters of occupied space and 40 hectares of land for development on Bucharest’s principal ring road. Dentons describes it as “a major center for third-party logistics providers, due to its direct access to the A1 motorway heading westwards and the park’s freight handling facilities as part of the pan-European rail corridor linking Dresden and Nuremberg to Istanbul.” 

    Dentons’ cross-border team consisted of Partners Peter Deegan and Gabriel Olearnik, with Associates Dominik Gorski and Agnieszka Nagorska providing additional support. A Bucharest team led by Partner Perry Zizzi (moved from Clifford Chance in July) — Dentons’ Head of Romania Banking and Finance — advised on the acquisition financing, while Warsaw-based Partner Tomasz Stasiak oversaw the due diligence process.

    Evan Lazar, Co-Chairman of the Global Real Estate Group at Dentons, said: “The logistics sector continues to be attractive in Central and Eastern Europe and this is yet another significant cross-border transaction on the warehouse market that Dentons advised on this year.” 

    In July Dentons advised Blackstone on a major logistics acquisition in Poland and the Czech Republic, as well as advising Deutsche Pfandbriefbank and UniCredit Bank Austria on a joint EUR 215 million senior facility to refinance a P3 logistics portfolio in the Czech Republic, Poland, and Slovakia. More recently White & Case advised P3 on an acquisition of a logistics portfolio in the Czech Republic. 

  • October Issue Out Now

    As our prized subscribers know, the electronic version of each issue of the CEE Legal Matters magazine is reserved for their eyes only for the first two months after publication. Only when the subsequent issue of the magazine is published will the content from that previous issue be moved from behind the paywall and made available to all.

    A small cheer may be appropriate, because the October issue of CEE Legal Matters is being published and sent to subscribers this week, and so that day, for the August issue, has arrived.

       

    You can access the full August issue here.

    Just to review: For the past two months subscribers alone have had access to the August issue’s introduction to the people behind and the history of the EBRD in Central and Eastern Europe. Subscribers alone have had access to a six-page summary of deals and representations across the region, and another table of partner and team moves, office openings, and other appointments of note. Subscribers alone have learned about Dentons’ growth across CEE, read the interview with a Polish legal recruiter about trends in that market, and read “the Buzz” (a new feature summarizing the issues and news on lawyers’ minds across CEE). Subscribers alone have enjoyed the Market Spotlight on the Czech Republic, complete with interviews of leading GC in the country, an extensive consideration of the ways Czech law students are — or are not — prepared for careers in private practice, and an extensive Market Snapshot, capturing recent developments in and the ever-changing status of the Czech legal market. Subscribers alone have had access to a thorough contemplation of the challenges for foreign investors across each CEE market in our Experts Review feature, and were entertained by the Top Sites review of law firm websites. And — ahem — yet another engaging and provocative Editorial by CEE Legal Matters’ Executive Editor.

    In short, subscribers have had exclusive access, for the past two months, to all the valuable, informative, and entertaining content in the August issue of the CEE Legal Matters magazine. 

    But now it’s available to all. Click on the magazine, or view it and download it in PDF format, or view the content by using the menu bars up above, which direct visitors to specific sections and articles. You’ll be glad you did.

    In the meantime, of course, subscribers will be moving on. The October issue of the CEE Legal Matters magazine is jam-packed with content not available anywhere else. The summary of deals — that all-important breakdown of which firms have been representing what clients, and on what matters — continues to grow, reflecting both our increased reach and our readers’ busy professional lives. The Markets Spotlight falls on Austria, with articles about the scarcity of foreign lawyers in the country, a Round Table with Managing and Senior Partners from all major Austrian law firms about Business Development strategies and practices, and — as always — interviews with leading GC in the country about best practices and personal backgrounds. Another article describes the controversial extension of the trainee period in Slovakia, against the background of much shorter trainee requirements in the rest of the region. Another report reveals the findings of the 2014 CEE Legal Matters General Counsel Best Practices Handbook on how General Counsel select and guide external counsel. And so on, and so on.

    It’s the best issue yet. And, for the next two months, it’s only for subscribers. Isn’t it time you became one yourself?

  • Weinhold Legal Advises German Embassy on Long-Term Lease of Embassy Building from Czech State

    Weinhold Legal has advised the Federal Republic of Germany and the German Embassy in Prague on the contemplated acquisition of the Palais Lobkowicz in Prague, the seat of the German Embassy, from the Czech state.

    Following negotiations the parties agreed instead on a long-term lease of the building by Germany. The baroque palace, which was built in 1702, was owned by the Bohemian Lobkowicz family from 1753-1927, when it was sold to the Czechoslovak state. Both Ludwig van Beethoven and Carl Maria von Weber gave concerts in its domed hall. 

    Palais Lobkowicz has been the seat of the German Embassy in Czech Republic since 1974. According to Weinhold Legal, “in 1989 the building was an important scene of European history, as thousands of East Germans fled to 

    West Germany via Prague and, thus, paved the way for German reunification.” Elaborating, a firm press release explained that: “The events at the Palais Lobkowicz are considered the most important precursors to the fall of 

    the Berlin Wall. The former German Foreign Minister Hans-Dietrich Genscher announced on September 30, 1989 on the balcony of Palais Lobkowicz the exit opportunity for almost 4,000 East German refugees. The communist system in East Germany and Czechoslovakia collapsed shortly afterwards and paved the way for free elections and a democratic society.” Germany’s interest in acquiring the building marks the 25th anniversary of this event. 

    Thilo Hoffmann, the Weinhold Legal Partner responsible for the deal after the firm won the German Embassy’s tender for legal advice, explained that: “Especially due to the historical significance of this building, we were very proud to support the Embassy on this transaction.”

  • Matviyiv & Partners attorneys at law opened an office in Kiev

    On October 17, the Kiev office of Lviv-based Matviyiv & Partners attorneys at law has been opened.

    The office is headed by Viktor Dovhan, who has been a founding partner of Dovhan & Partners law firm. The office is focused on arranging legal support of the commercial activity of the Central Ukrainian companies. It offering covers wide scope of litigation, corporate and real estate matters. 

    At the moment the team from both offices includes 10 lawyers, including 3 partners.

    This article is powered by our friends at UJBL. 

  • Tax Team Leaves Garrigues to Found Tax Matters

    Tax Team Leaves Garrigues to Found Tax Matters

    Corporate Tax specialists Szymon Murawski and Agnieszka Kobak have left the Warsaw office of Garrigues to found Tax Matters. The new 2-person practice opened its doors on October 1, 2014.

       

    Agnieszka Kobak and Szymon Murawski

    Although Murawski received his law degree from the University of Warsaw in 2002, and Kobak received her Master’s in Law from the University of Gdansk in 2003, since then the two have followed a remarkably (and not completely coincidentally) similar career path. Both began their careers with Deloitte (Murawski in 2002, Kobak in 2005), and Kobak explains that Murawski was her “first coach.” The two moved to DLA Piper in 2008 (he in October, she in November), before being hired hired by Garrigues in 2011 (he in April, she in September), to develop the firm’s Polish tax practice from scratch. In a conversation with CEE Legal Matters, Kobak explained that the Spanish firm’s name was not particularly well-known in the Polish market back in 2008 when they joined, and thus their business development efforts relied primarily on their own reputation and capabilities. Eventually the two made what Kobak calls “a simple business calculation” to become independent, and they decided to launch their own office. 

    Despite the shared career path Kobak and Murawski are not a couple, Kobak insists, though she admits with a laugh that it’s a common question. Clients appreciate their work together, she believes, noting that while she focuses primarily on day-to-day business, advising, and commercial agreements, he focuses primarily on international taxation and tax planning, mostly from a corporate tax perspective.

    For the time being Murawski and Kobak intend to run Tax Matters as a two-person shop, cooperating frequently with corporate lawyers they know well in the market to provide supplementary corporate advice as necessary. They will move into a newly renovated office in the beginning of next year, and expect their website to launch at the end of November.

  • TopSites Award: Austria and Lithuania

    TopSites Award: Austria and Lithuania

    Top Sites this month checks in on the leading law firm websites in Austria and Lithuania.

    TopSite Award – Austria

     

    In Austria the top two websites reflect the character and nature of the firms they represent nicely, despite being extremely different in style, design, and functionality.

    The best site, redesigned and relaunched just this year, belongs to Schoenherr, and reflects advanced research into and analysis of what a modern law firm website can be, should be, and should do. According to Gina-Maria Tondolo, Schoenherr’s Marketing Director: “We consider our web presence key for connecting with clients all around the world. Our analytics tell us that our strategy for a content rich website has proven to be right. When relaunching our website earlier this year, we made sure to meet all of our users’ requirements, such as responsive design and easy-to-use and search-optimized knowledge sections.”

    Mission accomplished, because Schoenherr’s site accomplishes all that – and more. It is virtually state of the art: It is attractive, and directs visitors to the information they need simply, clearly, and quickly, while being at the same time admirably complete, and answering every question visitors might reasonably ask. Given the necessity of conveying substantial amounts of information about the firm’s many lawyers, capabilities, and services across 14 European jurisdictions, the advanced, attractive, and interactive nature of the website is especially remarkable.

    Tondolo was pleased to hear her team’s efforts had paid off. “We put a great deal of thought, lots of hard work, and countless hours into our new website – so we’re especially happy to win this award, as it shows that the advantages of our new approach to content marketing and responsive design haven’t gone unnoticed.” 

     

    Despite being very different, the website of Dorda stands out as well. As the firm pursues a more geographically conservative business model than Schoenherr – with only a Vienna office  – its website is perhaps for that very reason restrained where Schoenherr’s is expansive, and quiet where Schoenherr’s is dynamic. The differences are significant – but do not diminish Dorda’s attractiveness or effectiveness. At the end of the day its site is undeniably stylish, elegant, and traditional, offering a calm introduction into the office’s capabilities.

    TopSite Award – Lithuania

     

    Our analysis of Lithuanian law firm websites was challenging, as a large number of the most successful firms have trans-Baltic presences. As a result, determining which website can qualify as “Lithuanian” is not always simple. Fortunately, it turned out not to matter, as the site of Dominas & Partners – a firm only in Lithuania – stands above the rest. The site is attractive and elegant, with an esthetic design and an intelligently-divided menu of options quickly directing visitors to useful and relevant information. Partner Gediminas Dominas was pleased to learn of the award, and shared his thoughts about the site’s look: “When creating our new web site design we were not so much concerned with what message exactly it would be carrying to the visitor. We wanted it to have a nice look, avoid existing clichés (like Lady Justice, skyscrapers, sailing boats), and be different from our competitors’ sites. We also wanted the design to be compatible with our vision: a hands-on approach to complicated deals and cases through a combination of experience on the market and the efforts of well-educated younger people. But most importantly, we wanted the choice on the website’s design to be made by all people of the firm. Everyone, including the bookkeepers and secretaries, had their say in which of the proposed visual ideas aesthetically was closest to their heart. Out of a couple of dozens designs proposed by the agency, the current one was almost unanimously chosen by all partners, associates, and employees. As to other aspects, like functionality, the design agency was given a wide freedom of action.”

     

    The website of Sorainen comes in second in Lithuania. It is fairly simple and text-heavy, with a conservative design. Nonetheless, the emphasis of substance over style and on content over flash reflects well on the firm. Plus, the home-page links to an entertaining commercial for the firm’s Estonian office, which injects unexpected light-heartedness into the site.

    According to Sorainen Lithuania’s Managing Partner Laimonas Skibarka, “the firm’s website is our business card on the web. Thus our aim [in creating it] is the same as with our services in general – being client-focused and regionally integrated across the Baltics and Belarus. An excellent website on its own is hardly enough to make the final ‘purchasing decision.’ However, it should instil confidence about the firm’s track record and provide easy access to the most relevant information and value-added news to your followers.”

  • Skrastins & Dzenis Victorious in Samsung-Related Case

    The Senate of the Latvian Supreme court has upheld the June 5, 2014 decision of the Riga Administrative District Court to repeal an order by the Competition Council fining SIA Veiksme un K as illegitimate.

    The Competition authority had claimed SIA Veiksme un K was a legal and actual successor to an entity which had been declared part of a cartel and fined back in 2009.

    Editorial Note: The original version of this article mistakenly reported that Skrastins & Dzenis had represented Samsung in the matter. The firm contacted CEE Legal Matters to correct the mistake, and emphasized that it has “never represented Samsung.” We apologize for the error.

  • Gessel Advises Polwax on IPO and Listing on Warsaw Securities Exchange

    Gessel has reported that, as of October 6, 2014, shares in Polwax – a major producer and distributor of refined and odorless paraffins and of a broad range of wax varieties – are traded on the Warsaw Securities Exchange.

    The firm supported Polwax throughout the preparation of its IPO (the distribution of the shares was handled, among other entities, by a fund affiliated with Krokus Private Equity) and assisted in the securing admission to have Polwax shares traded on the Warsaw bourse’s regulated market.

    The Gessel team responsible for the project included Managing Associate Krzysztof Marczuk and Trainee Advocate Magdalena Szeplik, both working under the supervision of Partner Leszek Koziorowski.

  • AstapovLawyers Advises Lexmark on Distribution Agreement

    AstapovLawyers has advised Lexmark International Technology of Switzerland on legal matters relating to the signing of distribution agreement with a Ukrainian company.

    AstapovLawyers’ services included a review of and adjustments to the wholesaler contract, drafting an arbitration clause, and advising on Ukrainian law matters applicable to the contract. 

    Lexmark is a Switzerland-based developer, manufacturer, and provider of printing, imaging, software, and document management services. The company was founded in 1990 and serves primarily the retail, financial services, manufacturing, pharmaceuticals and healthcare sectors.  

    AstapovLawyers’ team was led by Partners Oleh Malskyy and Oleh Beketov, assisted by Senior Associate Bohdan Dmukhovskyy.

  • Sorainen Obtains Competition Authority Approval for Largest Baltic Transaction of the Year

    Sorainen has obtained a green light from the Competition Council of Lithuania for the acquisition of up to 100% of shares in Lietuvos draudimas by the Polish insurance company PZU, reported here on April 18.

    As previously reported here, Sorainen had previously obtained approval of the merger from the Latvian Competition Council for PZU’s purchase of the Latvian Balta insurance companies, which closed as part of the same deal). Valued at LTL 1.2 billion (approximately EUR 347.5 million), the transaction, by which PZU took over the Lithuanian, Latvian, Estonian and Polish business of the RSA Insurance Group — the operator of Lietuvos draudimas — is the largest transaction in the Baltics this year. For purposes of the transaction, the value of Lietuvos draudimas alone was estimated at LTL 620 million (about EUR 179.5 million).

    The Competition Council’s approval came on October 9. During its 5-month investigation, the Competition Council stated that competition might be limited because the merging insurance companies held large market shares in the insurance market for land vehicles other than railway vehicles and in the property insurance market. Taking this into account, PZU entered into commitments to transfer its business related to KASKO and the property insurance activities of PZU Lietuva to buyers already operating in the market or seeking to enter the market. For the first time in the history of Lithuanian competition law, a trustee — PricewaterhouseCoopers — has been appointed to monitor the implementation of those commitments. 

    The decision of the Competition Council to allow the concentration with the commitment to sell part of the business to reduce the post-transaction market share of the parties is the first structural commitment of this scale in the history of Lithuanian competition law and corresponds to the latest practice of the European Commission in the area of concentration.

    Sorainen provided comprehensive legal assistance to PZU both in acquiring the Baltic insurers (Lietuvos draudimas (Lithuania), Balta (Latvia) and Codan Forsikring (Estonia)) from RSA Insurance Group and in drafting a notice of concentration to the Competition Council, as well as in carrying out all transaction-related tasks to ensure successful closure of the deal.

    The Sorainen team consisted of Competition law experts Paulius Koverovas and Giedre Adomaviciute, Insurance law experts Tomas Kontautas, Associates Agne Sovaite and Arturas Asakavicius, and Mergers and Acquisitions law experts Sergej Butov and Evaldas Dudonis.

    In a press release of Ilyasvev & Partners, the firm explained that, under Section 22 of the Competition Act in Ukraine, PZU had to also obtain Ukraine’s competition regulator, the Antitrust Committee (AMKU) merger clearance in order to proceed with this multi-million dollar deal. On September 17, 2014, the firm had announced that it secured the four merger clearances from AMKU.