By Law No. 74/2025 dated 04.12.2025, the Assembly of the Republic of Albania has adopted a new legal framework for the implementation of extended producer responsibility, fundamentally reforming the way in which waste from products is managed after the end of their life cycle. This law constitutes one of the most significant developments in the field of environmental law and market regulation, with a direct impact on producers, importers, and economic operators placing products on the Albanian market.

Albania is preparing to amend its competition framework to better address anti-competitive practices and align with EU standards. A draft law introducing changes to the Competition Law has been presented but has not yet been discussed in Parliament. The proposed amendments would grant the Albanian Competition Authority (ACA) broader powers, particularly to scrutinize so-called “killer acquisitions,” and would clarify rules on abuse of dominant position and coordinated practices. For Albania’s business and legal community, these changes signal a more vigilant enforcement environment while also offering greater legal certainty. In addition, new regulations are expected to be adopted to further approximate Albanian law to EU competition rules.

The General Directorate of Taxation (“GDT”) has introduced indicative salary levels for various professions in the construction sector. According to the GDT, salaries reported in the payrolls of construction companies will be analysed and compared against these newly published benchmarks. This assessment aims to identify taxpayers who may be underreporting employee wages and, as a result, failing to pay the correct social security contributions.

Laurenz Liedermann and Benedikt Sprinzl have joined Kinstellar's Vienna Office as Partners.

Bernd Taucher Corporate Advisory law firm has opened for business in Vienna.

A new Vienna-based law firm, HYLT, has been launched by Tugce Yalcin and Dimitar Hristov.

Contributed by Arzinger

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

Wolf Theiss and Cobalt, working with Baer & Karrer, has advised SK Capital LP on its acquisition of Swixx BioPharma Holding in a transaction valuing the company at over EUR 1.5 billion. Walder Wyss reportedly advised Swixx BioPharma.

As Bosnia and Herzegovina advances EU-alignment and energy transition priorities, mandates have broadened across compliance, projects, and cross-border deals. Maric & Co Partner Bojana Bosnjak-London and Sijercic & Partners Senior Partner Nihad Sijercic discuss where the work is coming from, who’s investing, what’s slowing things down, and how the outlook is shaping up.

Reflecting on his path from a fascination with aircraft landings to leading Sarajevo International Airport’s legal team, Sarajevo International Airport Head of Legal Berin Ridjanovic discusses the complexities of air law, managing expansion projects, working with external counsel, and navigating EU regulatory alignment.

Kinstellar has advised Enery on its acquisition of a battery electricity storage system project in Bulgaria with a total installed energy capacity of 600-megawatt-hours from Most Energy. Wolf Theiss advised Most Energy.

Djingov, Gouginski, Kyutchukov & Velichkov has promoted Ivan Punev to Partner and Nikolai Gouginski to Co-Managing Partner of the firm, alongside Zdravka Ugrinova.

Public procurement in Bulgaria has long been a battlefield between the necessity for competitive transparency and the persistent shadow of concerted practices. Among the various grounds for exclusion of economic operators, bid rigging presents a unique legal challenge. Under the Bulgarian Public Procurement Act (PPA), the intersection of antitrust findings by the Commission for Protection of Competition (CPC) and the procurement process creates a complex landscape where the concept of "self-cleaning" becomes the only lifeline for businesses seeking to maintain their market presence.

Savoric & Partners has advised Raiffeisen Mirovinski Fondovi on the acquisition of a stake in City Center One Split shopping mall.

Wolf Theiss and Cobalt, working with Baer & Karrer, has advised SK Capital LP on its acquisition of Swixx BioPharma Holding in a transaction valuing the company at over EUR 1.5 billion. Walder Wyss reportedly advised Swixx BioPharma.

Croatia’s real estate market is marked by strong demand amid tight supply. Recent analyses note that high demand, inflation-driven price growth, and limited new construction have resulted in a slowdown of the residential real estate market.

BBH has promoted Jan Kadrnozka to Partner.

Rymarz Zdort Maruta has advised the founders of Unilogo Robotics on a majority investment from Resource Partners and the EBRD. BCGL advised Resource Partners. Dentons advised the EBRD. 

Reals has advised Mint Residential Fund on the acquisition of a residential real estate project in Prague 9, Hloubetin, from Finep. Clifford Chance advised Finep on the deal. Allen Overy Shearman Sterling advised ING on the financing side.

Papapolitis & Papapolitis has advised ATHEX-listed real estate developer and investor Technical Olympic on a co-funding agreement with Pollen Street Capital. Norton Rose Fulbright reportedly advised Pollen Street Capital.

AKL has advised Alpha Bank on the financing provided for the acquisition of Domes Zeen Chania by Brookfield.

Bernitsas has advised the Aktor Group of Companies on its inaugural issuance and public offering in Greece of EUR 140 million bonds due 2030, as well as the listing of the bonds on the Fixed Income Securities Market of the Athens Exchange.

In March 2024, the European Union adopted a new set of amendments to both the Markets in Financial Instruments Directive, commonly known as MiFID II, and the related Markets in Financial Instruments Regulation (MiFIR), as part of the Capital Markets Union agenda. The two instruments operate together and form the core of the EU framework governing trading venues, investment firms and market transparency. The latest amendments are designed to improve the availability and quality of market data, enhance market resilience during periods of stress, and simplify certain regulatory requirements that were widely viewed as inefficient in practice. While the MiFIR amendments apply directly across the EU, Member States had to transpose the revised MiFID II into national law by 29 September 2025. Hungary has adopted national measures aimed at implementing the amended directive.

David Adamov has joined Kapolyi as the Head of its Competition Law team and as the lead of the firm's compliance services. 

The Hungarian Parliament has adopted Act No. CXXXV of 2025 on the Hungarian implementation of the European Union’s Cyber Resilience Regulation and the amendment of certain cybersecurity provisions. Key changes include a modification of the scope of the law and the designation of the SzTFH (Szabályozott Tevékenységek Felügyeleti Hatósága – Supervisory Authority for Regulated Activities) as both the notifying authority and the market surveillance authority. In addition, a significant amendment was introduced to Act LX of 2025 on Certain Court Proceedings and Liquidation Concerning Legal Entities, empowering courts to temporarily prohibit chief executive officers from performing their executive duties in specific cases based on a final decision of the SzTFH.

Ellex has appointed Mari Must as the firm's new Head of Intellectual Property in Estonia.

Former Estonian Supreme Court Justice Urmas Volens has rejoined Nove.

Sorainen has advised Gjensidige Forsikring on the sale of its Baltic insurance business to Ergo International, which manages Ergo’s international business portfolio.

In Kosovo, the legal framework governing mergers and acquisitions (M&A) is encapsulated in Law No. 08/L-056) on the Protection of Competition, effective from June 2022. This legislation mandates that certain concentrations (i.e., mergers, acquisitions, or joint ventures) be notified to the Authority for the Protection of Competition (APC) prior to their implementation, aiming to prevent anti-competitive practices and ensure a competitive market environment.

Kosovo’s prolonged political deadlock has slowed down the pace of reforms and delayed progress under the Growth Plan, leaving the country in a transitional period ahead of the December 28 elections, according to PRI Legal & Partners Partner Festa Stavileci.

The legislative landscape on insolvency in Kosovo has undergone substantial changes with the Law No. 08/L-256 on Bankruptcy (Law on Bankruptcy), which, beyond modernizing domestic procedures, regulates cross-border bankruptcy in line with international standards such as the EU Insolvency Regulation (2015/848). Through such changes, Kosovo moves closer toward protecting cross-border assets and creditors, providing for a better climate for further economic development.

Cobalt, working with Simpson Thacher & Bartlett, has advised Stonepeak on its acquisition of Bite Group's telecommunications tower infrastructure business TeleTower. Sorainen, working with Allen Overy Shearman Sterling and Paul Weiss, advised the sellers.

Sorainen has advised Gjensidige Forsikring on the sale of its Baltic insurance business to Ergo International, which manages Ergo’s international business portfolio.

Cobalt has advised Luminor Bank and SEB Banka on a syndicated financing agreement with Eco Baltia and its subsidiary Eco Baltia Vide.

Ronaldas Kubilius has joined Ellex's Lithuanian office as Partner.

Cobalt, working with Simpson Thacher & Bartlett, has advised Stonepeak on its acquisition of Bite Group's telecommunications tower infrastructure business TeleTower. Sorainen, working with Allen Overy Shearman Sterling and Paul Weiss, advised the sellers.

Sorainen has advised Gjensidige Forsikring on the sale of its Baltic insurance business to Ergo International, which manages Ergo’s international business portfolio.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Karanovic & Partners has promoted Miljana Tomic and Ana Kashirska Ilievska to Partners.

Karanovic & Partners has promoted Milena Jaksic Papac, Veton Qoku, and Igor Angelovski to Senior Partners.

An in-depth look at Oleg Efrim of Efrim Rosca Asociatii, covering his career path, education, and top projects as a lawyer, as well as a few insights about him as a manager at work and as a person outside the office.

The year 2025 brought significant changes to the Moldovan merger control regulations.

In our Looking In series, we talk to Partners from outside CEE who are keeping an eye on the region to learn how they perceive CEE markets and their evolution. For this issue, we reached out to new Jones Day Partner Veronica Dragalin, who recently joined the firm’s Washington office after working as the Chief Anti-Corruption Prosecutor in Moldova since 2022.

ZSP Advokati, working with Squire Patton Boggs, has advised the EBRD on its EUR 25 million capitalization agreement with Voli Trade. Jovovic Mugosa & Vukovic advised Voli Trade.

Countries in the region continue with the application of the Pillar 2 of OECD’s Global Anti-Base Erosion Model Rules (“GloBE”) as well as the EU’s Global Minimum Tax Directive 2022/2523. After the introduction of GLoBE rules in Slovenia, Croatia and North Macedonia, the Ministry of Finance of Montenegro, on 26 November, initiated the public consultations regarding the new Law on Global Minimum Corporate Income Tax (“Law on GMCIT”).

Harrisons, working with Clifford Chance, has advised the European Bank for Reconstruction and Development on a portfolio risk-sharing facility in Montenegro.

Jakub Kutzmann has joined Baker Tilly Legal Poland as a Partner and the firm's new Head of the Real Estate Practice.

SKJB Szybkowski Kuzma Jelen Brzoza-Ostrowska has advised Atman on the WAW3 data center project in Duchnice near Ozarow Mazowiecki.

Rymarz Zdort Maruta has advised GKSD and Gruppo San Donato on the acquisition of a 27.78% minority stake in American Heart of Poland, together with AHP Logistyka and Healthcare & Hospitality Providers, for a total consideration of EUR 250 million.

Popovici Nitu Stoica & Asociatii has promoted Bianca Monica Chiurtu, Ioana Cazacu, and Ramona Pentilescu to Partner.

Musat & Asociatii has successfully represented a TIU Group company in a competition dispute that concluded with a final and binding ruling of the High Court of Cassation and Justice.

Nyerges & Partners has advised Doral Energy on the negotiation and signing of EPC contracts with Waldevar Energy for the development of its first photovoltaic projects in Romania.

Contributed by Clifford Chance.

Contributed by Alrud.

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

The Serbian Parliament adopted the new Law on Information Security on October 22, 2025. The adoption of the new Law on Information Security is a step forward in aligning Serbian legislation with the acquis in the field of information security. The new law provides for clearer definitions of terms, introduces new terms, increases the number of ICT systems operators, and imposes stricter obligations on ICT systems operators. ICT system Operators are left 18 months to comply with their ICT systems with the new law. 

BDK Advokati has promoted Marija Gligorevic to Partner.

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised Alstom on the transport system design and construction for Belgrade Metro Line 1, Phase 1.

Dentons has advised EP Equity Investment on its acquisition of Aures Holdings from Abris Capital Partners.

Kinstellar, working with Linklaters, has advised Unilever PLC and The Magnum Ice Cream Company on the formation of TMICC, its separation and demerger from Unilever, and its subsequent listings on the Amsterdam, London, and New York Stock Exchanges.

With new AI guidelines, shifting tax rules, and ambiguity around the Svarc system, Slovakia’s legal landscape is in flux, according to Majernik & Mihalikova Partner Ivan Kormanik. Yet M&A activity remains exceptionally strong, fueled by regional investors and the booming defense sector.

Wolf Theiss and Cobalt, working with Baer & Karrer, has advised SK Capital LP on its acquisition of Swixx BioPharma Holding in a transaction valuing the company at over EUR 1.5 billion. Walder Wyss reportedly advised Swixx BioPharma.

Senica & Partners and Jerovsek-Malis, working with Stradley Ronon, have advised the Lenis Group on its sale to Great Point Partners. Wolf Theiss, working with McDermott Will & Emery, advised Great Point Partners. 

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around, we asked: Would you ever hire a non-lawyer as a CEO/Managing Partner for your firm? Why/why not?

Paksoy has advised Gama Holding subsidiary Gama Enerji on the sale of its 870-megawatt Ic Anadolu Natural Gas Combined Power Plant in Kirikkale to Socar Turkiye.

Paksoy has promoted Doguhan Uygun and Zekican Samli to Partners.

Turunc has advised Lowercarbon Capital on its investment in Getmobil in a round that also included International Finance Corporation, 2150, and existing investors. Paksoy reportedly advised IFC. Baker McKenzie's Turkish affiliate law firm Esin Attorney Partnership reportedly advised Getmobil. 

CMS has advised the European Investment Bank on a EUR 300 million loan agreement with Naftogaz Group, aimed at strengthening Ukraine's energy security. Aequo advised Naftogaz.

Sayenko Kharenko has advised Piraeus Bank on the reverse merger with its parent company Piraeus Financial Holdings. 

The transition to new rules for the labelling of alcoholic beverages has proven to be one of the most complex aspects of Ukraine’s implementation of the EU-Ukraine Association Agreement. What initially appeared to be a “simple” step – abandoning the familiar names cognac and champagne – in fact involved a multi-layered process touching on matters of legislation, trade, customs procedures, competition, and international cooperation.