Category: Uncategorized

  • SORAINEN Advises Gasum on Sale of Estonian Operations to Alexela Energia

    SORAINEN Advises Gasum on Sale of Estonian Operations to Alexela Energia

    SORAINEN Estonia has advised Gasum Energiapalvelut in selling its Estonian business Gasum Eesti to Alexela Energia, part of the Alexela Group. According to Gasum Vice President Jarko Alanko, “this arrangement supports Gasum’s strategy of focusing on the development of the gas market in Finland and the Nordic countries.”  

    Gasum Eesti (previously called Gaasienergia) is a subsidiary of Gasum Energiapalvelut. Gasum Eesti sells and distributes natural gas to small and medium-sized enterprises and residential customers in the areas of Rapla and Tabasalu. The company owns and maintains a 62 km gas distribution network. Revenue of Gasum Eesti in 2013 was around EUR 2 million. 

    The transaction is expected to be completed by September or October 2014, when approval by the Estonian competition authority is provided. 

    SORAINEN advised Gasum in all phases of the transaction, including preparation for auction, collecting documentation, and drafting and negotiating the sales contract. The SORAINEN team included Partner Toomas Prangli, Specialist Counsel Kadri Kallas, Associate Kaspar Endrikson, and Legal Assistant Triin Tigane. Gasum’s financial advisor for the transaction was Porta Finance. 

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  • Dentons Advises Starwood Capital Group on Ghelamco Office Portfolio Acquisition

    Dentons has advised Starwood Capital Group on its entry into the Polish office market with the acquisition of a portfolio of three prime office complexes from the Ghelamco real estate developer.

    Starwood Capital Group’s Polish portfolio previously consisted of a network of hotels across the country. 

    The portfolio includes two properties located in the business districts of Warsaw, T-Mobile Office Park and Lopuszanska Business Park, and one in southern Poland, Katowice Business Point, situated in the Katowice city center. The portfolio comprises 78,000 square meters of gross leasable area as well as over 2,000 parking spaces. The Warsaw buildings were constructed last year, and the one in Katowice in 2010. According to Dentons, all are virtually 100 percent occupied.

    The Dentons team was led by Warsaw-based Partner Maciej Ryniewicz, and included Associates Krzysztof Marzynski, Joanna Czaplicka, and Marta Wozniak, as well as Counsel Gabriel Olearnik.

    Evan Lazar, Co-Chairman of the Global Real Estate Group at Dentons, said: “Last year our Real Estate team advised Starwood on the largest office transaction in the Czech Republic ever – its acquisition of The Park, a 12-building business complex in Prague from Aberdeen Asset Management Deutschland AG. We are pleased that Starwood again has chosen us to continue to advise and assist them in new markets.”

  • August Issue Out Now

    The August issue of CEE Legal Matters is out now! Subscribers waiting eagerly for the issue to appear in their mailbox can, in the interim, access it electronically on the CEE Legal Matters website, while non-subscribers will have to wait another two months to access the magazine’s valuable content.

       

    You can access the full August issue here.

    And valuable it is. The August issue is the biggest yet, full of insightful analysis, unmatched regional coverage, and regular and new features designed to inform and entertain.

    The Market Spotlight in the August issue falls on the Czech Republic, the country of Kafka and Pilsner, the Velvet Revolution and the Charles Bridge. Included in the Market Spotlight is a Guest Editorial from the owner and Managing Partner of a growing Czech law firm. It includes a special report on the country’s ability to adequately prepare its law students for a career in commercial law firms, featuring the thoughts and perspectives on the subject of academics, practitioners, and several soon-to-graduate law students. A number of those leading Czech practitioners also report on the state of the Czech legal market in key sectors and practice areas for our brand-new Market Spotlight feature. Our Expat on the Market Q&A is with Jonathan Weinberg, White & Case’s senior English law Banking and Finance Partner in CEEA. And, in our Inside Insight feature, a number of high profile General Counsel from Accenture, Ezpada, and Siemens in the Czech Republic provide perspective and insight on their roles as well.

    Experts Review focuses on key challenges and obstacles foreign investors are likely to face in each CEE market. This is our most extensive and revealing Experts Review feature to date, and the analysis provided by the contributors will be useful to anyone preparing CEE market entry.

    The issue also features a thorough exploration of the EBRD’s significant role in CEE, and a special Guest Editorial from the Deputy General Counsel of the Bank. 

    There’s so much more. Subscribers will enjoy an interview with the Counsel & Manager of the Legal Department, IBM Russia/CIS, and appreciate a Q&A with a market-leading legal recruiter about the needs and opportunities in the Polish legal market. The Top Sites feature focuses on the best law firm websites in the Czech Republic and Greece. The ever-more-popular Summary of Deals illustrates the large deals being done across the region. And the Frame focuses on the surprising amount of lateral movement in CEE this summer, and the one international firm that’s growing in the region while so many of its competitors close up shop and withdraw.

    All this, and more … for subscribers. Isn’t it time you became one as well?

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  • Greenberg Traurig Advises Amstar in Purchase of Luxury Warsaw Residential Tower

    Greenberg Traurig Advises Amstar in Purchase of Luxury Warsaw Residential Tower

    Greenberg Traurig has advised US-based private equity investor Amstar in its first Joint Venture in Poland; a purchase, made in combination with the Polish development company BBI Development, of the luxury Zlota 44 residential tower located in the city center of Warsaw.

    The tower, which a Greenberg Traurig press release described as “iconic”, was designed by architect Daniel Libeskind. Unconfirmed reports put the purchase price at PLN 260 million (approximately EUR 65.5).

    Zlota 44 is primarily residential space, reaching 192 meters (54 stories) into the sky. The name of the skyscraper comes from the building’s pre-WWII address, which was completely destroyed by the Nazis. 

    Jason Lucas, President of Amstar Global Advisers, noted that “Amstar is expanding its Emerging European investments westward from Russia and Turkey into Poland in order to capture opportunities in one of Europe’s most vibrant real estate markets. The off-market acquisition of Zlota 44 was the ideal opportunity to acquire a high-quality project at a significant discount to replacement cost.”

    The Greenberg Traurig team on the deal was led by new Partner Eric Rosedale, the firm’s Head of International Real Estate.

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  • Kachkin & Partners Advising on First PPP in Leningrad Region

    Kachkin & Partners Advising on First PPP in Leningrad Region

    Kachkin and Partners has been selected by the Committee for Economic Development and Investment in the Leningrad Region to provide what the firm calls “comprehensive support services” for the first PPP in the region: the creation of the “Regional Center for Medical Rehabilitation.”

    The firm will integrate the contributions of the various medical, marketing, technical, and financial consultants. In addition, the firm will prepare a draft agreement for the tender for the concession agreement for the reconstruction of the existing facilities and the construction of new facilities in the hospital complex in the community of Communar. 

    Kachkin & Partners Managing Partner Denis Kachkin explained that: “It should be noted that this pilot PPP project for the Leningrad region is, in fact, one of the first public-private partnership in Russia, where the investor accepts the operational risks associated with medical services. We are pleased to continue to work on the creation of a rehabilitation center and are willing to make every effort to bring this truly significant social project to fruition.”

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  • Dvorak Hager & Partners Successful for Avalon Business Center in Czech Arbitrations

    Dvorak Hager & Partners Successful for Avalon Business Center in Czech Arbitrations

    Dvorak Hager & Partners has successfully arbitrated two matters for Avalon Business Center, a member of the Expandia Group, in the Czech Republic.

    Both arbitration proceedings — before the Arbitration Courts attached to the Economic Chamber of the Czech Republic and the Agricultural Chamber of the Czech Republic — involved claims made by Avalon Business Center against a leading Czech construction company over allegedly defective work. According to Dvorak Hager & Partners Partner Stanislav Servus, “we were successful in both matters and our client was awarded two decisions, in millions of CZK, regarding its claims.”

    The Avalon Business Center is a 22,000 square meter mixed-use development located in Plzen, in the Czech Republic. Completed in 2007, the property consists of office space and shops, restaurants, cafes, and a fitness center. The Expandia Group ranks among the leading investors in the projects of private and venture capital in the Czech Republic and the countries of Central and Eastern Europe.

    Dvorak Hager & Partners Associate Ondrej Huml worked with Servus on the arbitrations.

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  • TopSites Award: Czech Republic and Greece

    TopSites Award: Czech Republic and Greece

    “A tie,” sports fans in the United States are fond of saying, “is like kissing your sister.” And yet a tie there is for the CEE Legal Matters Top Sites Award for August in the Czech Republic, as both Dvorak & Hager and Kocian Solc Balastik – in radically different ways – have created and manage impressively colorful, complete, and professional sites.

    TopSite Award – Czech Republic

     

    Dvorak & Hager’s website is, in our opinion, the single best among law firms in the Czech Republic. The site – used for both the firm’s Czech and Slovak offices – can be viewed in Czech, Slovak, English, and German, and a comprehensive list of menu tabs are provided on the home page for easy understanding and maneuvering. The tabs lead to complete, useful, and current contact details for the firm’s lawyers, a full selection of thought-leadership articles and news items, a calendar of events, a “career” page with open roles, a summary of the firm’s history and expertise, and much more. Most impressively, perhaps, contact information is provided for everyone at the firm, from partners down to paralegals and assistants, reflecting unusual confidence, generosity, and an enlightened sense of professional empowerment. Ultimately, our editors could find no information a website should have that the Dvorak & Hager site doesn’t, and it is all presented in an attractive and clear way. 

     

    If Dvorak & Hager’s website is the best, why does Kocian Solc Balastik tie for the award? First, of course, the KSB website is itself extremely strong, and would on its own merits come in an extremely close second. The site provides extensive information about and contact details for the firm’s lawyers, thought-leadership and news articles, and even an introduction to the firm’s pro bono projects and commitments, which is rare among law firm websites in CEE. KSB Founding Partner Martin Solc explains of his website that: “We wanted it to be simple and user-friendly. We think that our legal services provide us with our best marketing, which is why we have a Legal News panel on the main page.”

    What elevates KSB to shared Top Sites Award status is that, in addition to its conventional website, it manages two additional sites: (1) a separate one for the KSB Institut (the firm’s client-information-and-education division); and (2) the legal section of Patria Online (a source of news and information for investors). The firm thus has a remarkable collective online presence, demonstrating a unique understanding of the information society and the ways a firm can reach potential clients – and others in its community – in a variety of ways.

    TopSite Award – Greece

     

    In Greece, Potamitis Vekris was judged to have the best website among leading firms. The site is simple, elegant, and understated, with attractive, fluid, and soft graphics. It includes contact details for all the firm’s lawyers, including trainees, and provides nicely-written summaries of the Potamitis Vekris practices, with helpful contact details for partners responsible for each. The site also highlights the firm’s pro bono commitment.

     

    The website for M&P Bernitsas, like that of Potamitis Vekris, includes news of recent successes and deals on the home page, providing actual information and details in lieu of the standard puffery. Clicking on each item on the firm’s “Practice” page also directs users to a selected list of specific matters the firm has worked on in that practice, which is a nice touch. Otherwise the site – competent, professional, and clear – lacks in bells & whistles, but does everything it sets out to do simply and well. It lays out information about the firm, its lawyers, their achievements, and its reputation. At the end of the day, that’s the point. 

    Managing Partner Panayotis Bernitsas explained that, “our main objective in designing the site was to enable readers to easily access the information they are looking for about our Firm,” and that, “we intend for our site to provide a clear overview of our capabilities and details of recent work within each of our areas of specialization, as well as information on awards and accolades the Firm and its attorneys have received.” Bernitsas concluded: “We are proud of our attorneys and the quality of advice and service they provide to our clients and so we have made available full details of their expertise on our website and made it easy to contact them directly.”

  • Interview: Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

    Interview: Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

    “Back in Prague! Re-charged with new knowledge about international business law from one of the world’s top ranked law schools and a London living and studying experience, and eager to start a new chapter at Accenture’s Legal Global Services!” is the way Alan Neradny, Country Legal Counsel at Accenture, Czech Republic, describes himself.

    Prior to joining Accenture 7 months ago, Neradny pursued an LLM at the London School of Economics and Political Science. Before that he spent 9 years with Kenvelo as its General Legal Counsel and HR Director, preceded by 3 years with Tatra banka as its expert lawyer.

    Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

       

    Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

     CEELM: To start, please tell our readers a bit about your career leading up to your current role with Accenture.

    A.N.: It seems quite a natural progression, really. In 2001, after having completed my compulsory military service as a Legal Services Officer, I applied for several legal roles. One of the companies I was then in touch with was Tatra banka, a member of Raiffeisen Bank International and Slovakia’s most pioneering banking institution. It was “love at first sight,” so to speak. I very much appreciated the wide ranging nature of the role, especially the provision of legal support for payment cards and e-banking, as well as the overall ambience of the company, particularly the head of legal services who interviewed me: a young, committed, friendly, and open-minded woman. She truly liked my genuine, unspoiled enthusiasm for work and my passion for learning. And neither of us was disappointed. Over three happy years with the bank, I took each and every opportunity, training, or assignment offered. In addition to my regular agenda, I also volunteered to advise independently on large-scale international projects and the bank’s innovation initiatives.

    However, drawn to working within a broader and more diverse international environment, I applied for a senior legal position at the Prague headquarters of the KENVELO Group prime regional retailer. My proposal led to a successful nine years’ marriage, during which I served under three different shareholders. After an acquisition and subsequent restructuring by Italian investors in 2006, I became the Group’s Legal Counsel, with a focus on pre-emptive and business-oriented legal support across the entire CEE region. As was the case in the bank, lawsuits were not a desirable solution, and their prevention or settlement at an early stage was strongly preferred. 

    I inherited the legal department at its peak, then comprising of seven lawyers in Prague and a similar number in other territories, with a strong drive for growth. Throughout those nine years, compared to the highly specialized banking position I had had before, I got a taste of the full range of legal issues that a company of that size and in that industry needs to handle, from corporate law matters such as trade licensing, corporate governance, and group structuring, through business development and financing, real estate, lease agreements and bank loans, intellectual property matters, marketing and advertising, to consumer protection and labor law issues. After some time I also became the Group HR Director, which allowed me to contribute to the HR strategies of the firm as well as to the professional development of the members of my legal team and all personnel in the Czech Republic and abroad. 

    When, between 2009 and 2010, the [global financial] crisis reached European shores, I navigated the ship of the company’s legal and HR affairs through its rough seas with my teams shrunk to a bare minimum. I maintained the level and quality of our service while continually struggling with a lack of resources – I call this a truly forming experience.

     CEELM: Prior to completing your law degree, you worked as a Supervisor/ Observer with the Organization for Security and Co-operation in Europe, where you were involved in international monitoring missions to Bosnia and Herzegovina and Kosovo — I sense there is a story there…

    A.N.: Yes, indeed. It is the story of my curiosity and passion for modern European history and international law, and my determination to eventually become part of it. As a teenager, with my eyes and mouth wide open, I had witnessed major changes in Eastern Europe: the fall of the Berlin Wall and the Velvet Revolution in Czechoslovakia, the reunification of Germany, and the bloody dislocation of the former Yugoslavia. It was beyond my understanding why newly-obtained freedom in a relatively prosperous country led to the most horrifying disaster on European soil since World War II. And I wanted to provide a helping hand. So as soon as I reached 21, the minimum age requirement for applying, and while still in law school, I submitted my application to serve as an OSCE international polling supervisor at the first free elections in the post-war Balkans of the late 1990s. I was lucky to be selected and returned later in 2001 and 2002, with the kind permission of my superiors at Tatra banka.

     CEELM: Following that experience, what drew you to the legal world?

    A.N.: The legal world has always been my natural habitat and my permanent settlement. Whereas the short-term missions with international organizations allowed me to pursue other interests and gain insight into how similar organizations and missions work. OSCE helps to establish functional political systems. But its role is always temporary. Once the organization concluded that the locals in Bosnia and Herzegovina and Kosovo were capable of organizing democratic elections and subsequent political life on their own, there was no space for a third party.

     CEELM: You have worked your entire legal career in in-house roles. Did you ever consider working in private practice?

    A.N.: When it comes to big decisions, I most often rely on my intuition. Of course, the work needs to be challenging. However, considering that we spend so much time at work, I need to enjoy my working environment and the people. At Tatra banka, I truly fell in love with the idea of “the full package.” In addition, compared to private practice – where I interned several times – I like the idea of building a deep and a long-term relation with one client that enables you to give the most appropriate legal advice in line with its requirements with no further delay. Furthermore, you are intertwined with an overall success of the client, which is truly rewarding.

     CEELM: You pursued your MBA while still in your roles as a General Counsel and HR director, and then you even decided to leave those roles to pursue both an MBA and an LLM in London. How do you feel those degrees built you up as a professional? Would you recommend them as “a must” for a strong in-house counsel?

    A.N.: An MBA was a logical choice. Being a trained lawyer in a managerial position for quite a while, I wanted to reassure myself that I was “managing” things just right! Additionally, in the aftermath of the 2009 crisis, when many of the well-established companies were profoundly shaken and their esteemed CEOs empty-handed, I wished to confront my understanding of what had happened and what could have been done differently with the opinions of the authorities in business. Additionally, I hoped to build an arsenal of possible remedies to defeat it and to cure its consequences. Meeting inspiring professors, entrepreneurs, and leaders – and I am not afraid to say also several admirable role models – helped me gain a full understanding of the practicalities of daily business life. It was definitely worth it.

    As for the LLM at the London School of Economics and Political Science, it was another story. With my Masters in Law from Bratislava and my Doctorate in International Law from Prague, it was more about how to best utilize a well-deserved break after 12 years of hard work. It was a new challenge, taking me out of my comfort zone – and also a childhood dream come true. My time in London was enriching, both intellectually and personally. Looking back now, I can say that I succeeded in not only completing my demanding studies at a highly selective institution, but also in better understanding the “melting pot” upon the Thames. And, last but not least, the cosmopolitan and unique student community raised my cultural awareness.

    Both degrees are certainly especially handy when managing an international legal team within a global structure.

     CEELM: Your current full title is “Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator” — what do the last two components refer to?

    A.N.: Local Country Interface at Accenture serves as a local legal point of contact for everyone from outside as well as inside the organization. To put it simply, I supervise and approve each and every legal matter in our operations in the Czech Republic. Legal CORE in Accenture stands for Compliance, Offerings, Regulatory & Ethics, Alliances, Employment law and Entity matters. As the most senior member of the team, supporting numerous geographies in Prague, I am its proud coordinator. It means mostly management and administrative support, from the approvals of employee vacations and home offices to their trainings and career development. Needless to say I do prefer the latter tasks (laugh).

     CEELM: What are the main areas of law that you have to deal with as a General Counsel for a management consulting, business outsourcing and technology solution company?

    A.N.: Indeed, it is the full scope of legal issues every large, global corporation needs to deal with. Nevertheless, Accenture puts strong emphasis on handling clients’ private and confidential information. Therefore, we are highly cautious of compliance, data privacy, and data protection. Similarly, we have set up advanced anti-corruption standards for ourselves as well as for our subcontractors.

     CEELM: How large is your in-house legal team and how does your HR experience help in managing it?

    A.N.: Our CORE team in Prague is currently growing and by this fall we shall be ten. Out of all aspects of managerial work, witnessing the personal development of my team members is the most rewarding! Identifying their strengths, helping them pursue their talents, and enhancing their self-confidence: I am very proud and encouraged to see them grow!

     CEELM: In light of the mentioned HR background, do you get directly involved in new hires for the legal team? What are the main aspects you look at when selecting new members (skills, knowledge, attitude, etc.)?

    A.N.: I particularly enjoy recruitment. Skills and knowledge are essential. But given the fact that I am building an international team, often hiring legal professionals directly from abroad, when it comes to finding the right fit for the CORE team and the company’s broader legal community, flexibility, cultural awareness, and adaptability play equally important parts.

     CEELM: A year ago, THE buzz-word in the Czech market was the New Civil Code. To what extent did it affect your business and have things calmed down in the interim?

    A.N.: Now seven months after it came into force I am glad to announce that we, the lawyers, are slowly moving towards a phase when we are not referring to it as to the “New Civil Code” anymore. It is simply the Civil Code. And this is a sign of its inevitable acceptance by the local legal community, including the corporate lawyers’ ranks. It was a somewhat busy pre-and-post-roll-out period at the end of the previous year and the beginning of this one, when we had to update all the templates and prepare new ones. And from time to time my colleagues still come up with some forgotten bits and pieces. However, the bottom line was to mitigate the impacts of the new legislation on our business in the Czech Republic. What we delivered eventually was uninterrupted business as usual.

     CEELM: On the lighter side, what was the first thing you were thinking on the plane from London that you just had to do upon your return in Prague?

    A.N.: Besides all the unpacking?! (laughs) I was enthusiastic about opening an entirely new chapter in my professional life. Wondering what my new degrees and foreign experience can do for me and how they can be best put to use. I have truly enjoyed that strong, inner feeling of joy when returning back to the job market. Therefore I was looking for a senior, independent, responsible, and challenging role within an international environment that was professional and well-mannered, but still enjoyable. Where I can apply the knowledge, experience, and attitude I have gained so far, and where I can still find new things to learn. And now I am unpacked and in a new role!

  • Interview: Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

    Interview: Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

    “Back in Prague! Re-charged with new knowledge about international business law from one of the world’s top ranked law schools and a London living and studying experience, and eager to start a new chapter at Accenture’s Legal Global Services!” is the way Alan Neradny, Country Legal Counsel at Accenture, Czech Republic, describes himself.

    Prior to joining Accenture 7 months ago, Neradny pursued an LLM at the London School of Economics and Political Science. Before that he spent 9 years with Kenvelo as its General Legal Counsel and HR Director, preceded by 3 years with Tatra banka as its expert lawyer.

    Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

       

    Alan Neradny, Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator at Accenture

     CEELM: To start, please tell our readers a bit about your career leading up to your current role with Accenture.

    A.N.: It seems quite a natural progression, really. In 2001, after having completed my compulsory military service as a Legal Services Officer, I applied for several legal roles. One of the companies I was then in touch with was Tatra banka, a member of Raiffeisen Bank International and Slovakia’s most pioneering banking institution. It was “love at first sight,” so to speak. I very much appreciated the wide ranging nature of the role, especially the provision of legal support for payment cards and e-banking, as well as the overall ambience of the company, particularly the head of legal services who interviewed me: a young, committed, friendly, and open-minded woman. She truly liked my genuine, unspoiled enthusiasm for work and my passion for learning. And neither of us was disappointed. Over three happy years with the bank, I took each and every opportunity, training, or assignment offered. In addition to my regular agenda, I also volunteered to advise independently on large-scale international projects and the bank’s innovation initiatives.

    However, drawn to working within a broader and more diverse international environment, I applied for a senior legal position at the Prague headquarters of the KENVELO Group prime regional retailer. My proposal led to a successful nine years’ marriage, during which I served under three different shareholders. After an acquisition and subsequent restructuring by Italian investors in 2006, I became the Group’s Legal Counsel, with a focus on pre-emptive and business-oriented legal support across the entire CEE region. As was the case in the bank, lawsuits were not a desirable solution, and their prevention or settlement at an early stage was strongly preferred. 

    I inherited the legal department at its peak, then comprising of seven lawyers in Prague and a similar number in other territories, with a strong drive for growth. Throughout those nine years, compared to the highly specialized banking position I had had before, I got a taste of the full range of legal issues that a company of that size and in that industry needs to handle, from corporate law matters such as trade licensing, corporate governance, and group structuring, through business development and financing, real estate, lease agreements and bank loans, intellectual property matters, marketing and advertising, to consumer protection and labor law issues. After some time I also became the Group HR Director, which allowed me to contribute to the HR strategies of the firm as well as to the professional development of the members of my legal team and all personnel in the Czech Republic and abroad. 

    When, between 2009 and 2010, the [global financial] crisis reached European shores, I navigated the ship of the company’s legal and HR affairs through its rough seas with my teams shrunk to a bare minimum. I maintained the level and quality of our service while continually struggling with a lack of resources – I call this a truly forming experience.

     CEELM: Prior to completing your law degree, you worked as a Supervisor/ Observer with the Organization for Security and Co-operation in Europe, where you were involved in international monitoring missions to Bosnia and Herzegovina and Kosovo — I sense there is a story there…

    A.N.: Yes, indeed. It is the story of my curiosity and passion for modern European history and international law, and my determination to eventually become part of it. As a teenager, with my eyes and mouth wide open, I had witnessed major changes in Eastern Europe: the fall of the Berlin Wall and the Velvet Revolution in Czechoslovakia, the reunification of Germany, and the bloody dislocation of the former Yugoslavia. It was beyond my understanding why newly-obtained freedom in a relatively prosperous country led to the most horrifying disaster on European soil since World War II. And I wanted to provide a helping hand. So as soon as I reached 21, the minimum age requirement for applying, and while still in law school, I submitted my application to serve as an OSCE international polling supervisor at the first free elections in the post-war Balkans of the late 1990s. I was lucky to be selected and returned later in 2001 and 2002, with the kind permission of my superiors at Tatra banka.

     CEELM: Following that experience, what drew you to the legal world?

    A.N.: The legal world has always been my natural habitat and my permanent settlement. Whereas the short-term missions with international organizations allowed me to pursue other interests and gain insight into how similar organizations and missions work. OSCE helps to establish functional political systems. But its role is always temporary. Once the organization concluded that the locals in Bosnia and Herzegovina and Kosovo were capable of organizing democratic elections and subsequent political life on their own, there was no space for a third party.

     CEELM: You have worked your entire legal career in in-house roles. Did you ever consider working in private practice?

    A.N.: When it comes to big decisions, I most often rely on my intuition. Of course, the work needs to be challenging. However, considering that we spend so much time at work, I need to enjoy my working environment and the people. At Tatra banka, I truly fell in love with the idea of “the full package.” In addition, compared to private practice – where I interned several times – I like the idea of building a deep and a long-term relation with one client that enables you to give the most appropriate legal advice in line with its requirements with no further delay. Furthermore, you are intertwined with an overall success of the client, which is truly rewarding.

     CEELM: You pursued your MBA while still in your roles as a General Counsel and HR director, and then you even decided to leave those roles to pursue both an MBA and an LLM in London. How do you feel those degrees built you up as a professional? Would you recommend them as “a must” for a strong in-house counsel?

    A.N.: An MBA was a logical choice. Being a trained lawyer in a managerial position for quite a while, I wanted to reassure myself that I was “managing” things just right! Additionally, in the aftermath of the 2009 crisis, when many of the well-established companies were profoundly shaken and their esteemed CEOs empty-handed, I wished to confront my understanding of what had happened and what could have been done differently with the opinions of the authorities in business. Additionally, I hoped to build an arsenal of possible remedies to defeat it and to cure its consequences. Meeting inspiring professors, entrepreneurs, and leaders – and I am not afraid to say also several admirable role models – helped me gain a full understanding of the practicalities of daily business life. It was definitely worth it.

    As for the LLM at the London School of Economics and Political Science, it was another story. With my Masters in Law from Bratislava and my Doctorate in International Law from Prague, it was more about how to best utilize a well-deserved break after 12 years of hard work. It was a new challenge, taking me out of my comfort zone – and also a childhood dream come true. My time in London was enriching, both intellectually and personally. Looking back now, I can say that I succeeded in not only completing my demanding studies at a highly selective institution, but also in better understanding the “melting pot” upon the Thames. And, last but not least, the cosmopolitan and unique student community raised my cultural awareness.

    Both degrees are certainly especially handy when managing an international legal team within a global structure.

     CEELM: Your current full title is “Country Legal Counsel / Local Country Interface / Prague CORE Team Coordinator” — what do the last two components refer to?

    A.N.: Local Country Interface at Accenture serves as a local legal point of contact for everyone from outside as well as inside the organization. To put it simply, I supervise and approve each and every legal matter in our operations in the Czech Republic. Legal CORE in Accenture stands for Compliance, Offerings, Regulatory & Ethics, Alliances, Employment law and Entity matters. As the most senior member of the team, supporting numerous geographies in Prague, I am its proud coordinator. It means mostly management and administrative support, from the approvals of employee vacations and home offices to their trainings and career development. Needless to say I do prefer the latter tasks (laugh).

     CEELM: What are the main areas of law that you have to deal with as a General Counsel for a management consulting, business outsourcing and technology solution company?

    A.N.: Indeed, it is the full scope of legal issues every large, global corporation needs to deal with. Nevertheless, Accenture puts strong emphasis on handling clients’ private and confidential information. Therefore, we are highly cautious of compliance, data privacy, and data protection. Similarly, we have set up advanced anti-corruption standards for ourselves as well as for our subcontractors.

     CEELM: How large is your in-house legal team and how does your HR experience help in managing it?

    A.N.: Our CORE team in Prague is currently growing and by this fall we shall be ten. Out of all aspects of managerial work, witnessing the personal development of my team members is the most rewarding! Identifying their strengths, helping them pursue their talents, and enhancing their self-confidence: I am very proud and encouraged to see them grow!

     CEELM: In light of the mentioned HR background, do you get directly involved in new hires for the legal team? What are the main aspects you look at when selecting new members (skills, knowledge, attitude, etc.)?

    A.N.: I particularly enjoy recruitment. Skills and knowledge are essential. But given the fact that I am building an international team, often hiring legal professionals directly from abroad, when it comes to finding the right fit for the CORE team and the company’s broader legal community, flexibility, cultural awareness, and adaptability play equally important parts.

     CEELM: A year ago, THE buzz-word in the Czech market was the New Civil Code. To what extent did it affect your business and have things calmed down in the interim?

    A.N.: Now seven months after it came into force I am glad to announce that we, the lawyers, are slowly moving towards a phase when we are not referring to it as to the “New Civil Code” anymore. It is simply the Civil Code. And this is a sign of its inevitable acceptance by the local legal community, including the corporate lawyers’ ranks. It was a somewhat busy pre-and-post-roll-out period at the end of the previous year and the beginning of this one, when we had to update all the templates and prepare new ones. And from time to time my colleagues still come up with some forgotten bits and pieces. However, the bottom line was to mitigate the impacts of the new legislation on our business in the Czech Republic. What we delivered eventually was uninterrupted business as usual.

     CEELM: On the lighter side, what was the first thing you were thinking on the plane from London that you just had to do upon your return in Prague?

    A.N.: Besides all the unpacking?! (laughs) I was enthusiastic about opening an entirely new chapter in my professional life. Wondering what my new degrees and foreign experience can do for me and how they can be best put to use. I have truly enjoyed that strong, inner feeling of joy when returning back to the job market. Therefore I was looking for a senior, independent, responsible, and challenging role within an international environment that was professional and well-mannered, but still enjoyable. Where I can apply the knowledge, experience, and attitude I have gained so far, and where I can still find new things to learn. And now I am unpacked and in a new role!

  • Interview: Peter Gyurovszky, Head of Legal & Compliance at Ezpada

    Interview: Peter Gyurovszky, Head of Legal & Compliance at Ezpada

    Peter Gyurovszky is the Head of Legal for Ezpada, a group of companies active on the European wholesale energy markets. His legal career started with a Czech-based securities broker, Capital Partners, which was a member of the Prague Stock Exchange. Starting as a Subdealing Officer, Gyurovszky ultimately rose to Compliance Officer responsible for the Hungarian market. In what he describes as “taking a quick glance at the private practice world,” he worked for almost a year with Squire Sanders (now Squire Patton Boggs), then joined Ezpada.

    Peter Gyurovszky, Head of Legal & Compliance at Ezpada

       

    Peter Gyurovszky, Head of Legal & Compliance at Ezpada

     CEELM: You have been exposed to working both in private practice and in-house. Would you ever consider moving back to a law firm?

    P.G.: I like to have an open mind in everything I do, so I can never rule out going back to a law firm. However, I know that I would miss the wide scope of areas which I have to cover as an in-house lawyer, meaning not just the legal perspectives of a certain contract or relationship, but also taxes, customs, and a full operational perspective. Therefore, if I am to move away from the in-house world, I would first consider consultancy.

     CEELM: What drew you to the energy wholesale business?

    P.G.: I think energy needs are, and in the future will continue to be, one of the main issues in society. I was interested in learning how this particular business operates from a legal practitioner point of view. That’s when Ezpada came into the picture. It allowed me to deeply explore not only the wholesale energy business but a wide range of financial businesses as well.

     CEELM: Ezpada operates out of 4 offices: Zug/Switzerland, Prague/Czech Republic, Munich/Germany and Istanbul/Turkey — what connects these markets in your industry?

    P.G.: First of all I must strongly stress the fact that, from a wholesale energy perspective, these markets are not very similar. They are all driven by different underlying forces and the overall variables which dictates the character of each of these markets vary significantly. What connects them is that we were able to understand these markets, adapt to them and have successfully operated in them for a considerable period of time.

     CEELM: What types of legal work do you tend to outsource to external counsel?

    P.G.: As was mentioned earlier, Ezpada operates in many markets in many countries. As a Czech-based lawyer, I am not able to have deep knowledge on legal matters in all of these countries. Therefore I use the services of external counsel mainly to get to know the basic principles of a foreign legal system and to identify the main local legal and regulatory threats. This is the first stage in every new country and, of course, as time goes by and legal environments change I need to periodically update my knowledge in this respect. The second area in which I absolutely rely on external counsel are dispute resolutions and different administrative proceedings. This area is so country-specific that good advice from external counsel is an absolute necessity.

     CEELM: When picking the law firm(s) you are going to work with on a specific project, what are the main criteria that you look at?

    P.G.: First I try to get a reference from some legal firms with whom I have previously worked and whom I trust, usually from neighboring countries. We also carry out our own internal research. Since energy law and energy trading regulation is a very specific area I prefer to hire law firms who’ve had previous experience with energy-related projects, even if I am looking for general corporate advice, for example. I feel that when a law firm has previously worked with another energy trader, or utility, it has a better understanding of what type of advice I need. I will not lie to you, these days fees is another huge criterion, and, in some cases, it is the decisive factor. My budget is tight and I need to find the best value for the money available.

     CEELM: What would you identify as the biggest recurring challenge in your role at the moment?

    P.G.: European regulations with respect to trading in financial derivatives as well as regulations on trading with physical electricity are developing at an enormous speed these days. We do not have a specific compliance department in Ezpada, as is customary in other trading companies or energy utilities. Therefore the challenge of keeping up to speed with current EU regulation is tremendous. While you have whole departments in other companies dedicated to this, it eats up about one third of my agenda in Ezpada, which is difficult to manage. This is from a compliance point of view. In terms of purely legal challenges, it is definitely contract management. The credit situation of companies in many EU countries is still not the best, meaning that careful drafting of bilateral contracts is essential. I am always trying to push our contract management to the next level by following current developments in contract management trends and very swiftly implementing them into our tailor-made contracts.

     CEELM: What would you like to see changed from a regulatory standpoint in the near future and how would that impact your industry?

    P.G.: I would very much like more clarity in EU regulation. It is clear that for example EMIR was not made primarily for energy derivatives, but the fact that it impacts them greatly creates many operational problems for us. So far I have to say that this impact is more negative than positive. It drove operational costs up, without any benefits so far. Personally, I believe that there will be benefits in the future, mainly more available data and the huge impact their analysis might have. There are some more regulations coming our way, again directed more towards the financial sector, and I strongly hope they will retain exemptions for companies which should have them. So far it looks promising.

     CEELM: A year ago, THE buzz-word in the Czech market was the New Civil Code. To what extent did it affect your business and have things calmed down in the interim?

    P.G.: The New Civil Code is the single biggest change in Czech private law in recent decades. It affected all parts of life, commercial as well as private. Ezpada had to adapt to these changes as well. Fortunately, as most of our business is linked to foreign legal orders, rather than Czech, our transition was easier. However I think that right now there is still a considerable amount of uncertainty regarding several issues. We don’t have enough relevant judicial doctrine to safely interpret many new provisions. I would again point out contract management, where we deal with transfer of titles, insolvency provisions, and other life cycle events of a contract, where we need to be one hundred percent sure what the outcome will be. This is not the case nowadays.

     CEELM: On a lighter note, if you could choose to work in any of the four offices of the company, which would you pick and why?

    P.G.: I would still pick Prague. It has a fascinating mixture of a very genuine cultural vibe and thriving business opportunities. I fell in love with Prague during my studies here and it still holds strong. If I am to move from Prague, it would be to one of the financial hubs, like London or Frankfurt.