In recent years, the major development in Hungary’s banking system is the establishment of the country’s superbank through the merger of Budapest Bank, MKB Bank, and the Takarek Group. DLA Piper Partner Andras Nemescsoi, Forgo Damjanovic & Partners Managing Partner Gabor Damjanovic, and Jalsovszky Law Firm Managing Partner Pal Jalsovszky share insights into the driving forces behind this development, its current status, and its anticipated impact on Hungary’s banking sector.
Budapest’s Blockbuster Business
Hungary has traditionally been the go-to hub for filming in Continental Europe. DLA Piper Partner Monika Horvath and Dentons Partner Timea Bana talk about the evolution of Hungary’s film industry over the past decade and whether the country has maintained its position as the primary European filming destination.
DLA Piper Advises Inter-Turbo Shareholders on Sale to BBB Industries
DLA Piper has advised Inter-Turbo's shareholders on their full sale of the company to BBB Industries subsidiary Budweg Caliper. Domanski Zakrzewski Palinka and Simmons & Simmons reportedly advised BBB Industries.
Tomas Scerba and Michal Hink Join DLA Piper as Partners in Prague
Former White & Case Local Partner Tomas Scerba and Michal Hink – previously Dentons’ Czech Republic Managing Partner – have joined DLA Piper’s Prague office as Partners. Alongside the two, Leo Javorek also joined the firm as a Counsel.
Dentons Advises HB Reavis on Financing Forest Office Campus in Warsaw
Dentons has advised HB Reavis on obtaining additional funds for the Forest office campus in Warsaw. The syndicate of lenders – Santander Bank Polska, BNP Paribas Bank Polska, Bank Pekao, and PKO Bank Polski – increased the existing loan from EUR 162 million to EUR 205 million. DLA Piper reportedly advised the banks.
Can the Hungarian Public Prosecutor Challenge Foreign Companies’ General Terms of Business in Hungarian Courts? The Budapest Court of Appeal Thinks So
In a recent case (under No. BDT2023.4623), the Budapest Court of Appeal made an important decision on the issue of jurisdiction. The case related to challenging the fairness (and the validity) of general terms of business (GTCs) of foreign service providers engaging in business with consumers in Hungary.
Legislative Changes Related to the Urbanism and Authorization of Construction Works With Focus on Renewable Energy Projects in Romania
A new Law on supplementing and amending of (i) Law no. 350/2001 on spatial planning and urbanism and (ii) Law no. 50/1991 on the authorization of the execution of construction works has been adopted by the Romanian Parliament on 11 May 2023 (law draft PL-x nr. 110/2023). To enter into force, the law is yet to be promulgated by the President and subsequently published in the Official Gazette.
Nicole Daniel Makes Partner at DLA Piper in Vienna
Former Counsel Nicole Daniel has been promoted to a Partner position in DLA Piper's Austrian office.
Oana Dutu-Buzura Becomes Tenth Partner as DLA Piper Celebrates 15 Years in Romania
Former Counsel Oana Dutu-Buzura has been promoted to Partner at DLA Piper in Romania as of May 1, 2023.
DLA Piper Advises Halma on Acquisition of Sewertronics
DLA Piper has advised Halma on its acquisition of Sewertronics for an initial sale price of EUR 41 million. Gomez-Acebo & Pombo and Wardynski & Partners reportedly advised the sellers.
Czech Republic: The Future of Photovoltaic Projects
According to the national energy mix, only 5.6% of energy was produced by renewable sources in 2021 in the Czech Republic. Most energy was produced by nuclear sources (40.4%) and fossil fuels (54%).
Austrian Media Privilege: Too Much of a Good Thing
A December 2022 decision by the Austrian Constitutional Court to annul the media privilege in the Austrian Data Protection Act has raised questions on how the country’s approach to the legal landscape regulating the media will change. Wolf Theiss Partner Kurt Retter and DLA Piper Counsel Stefan Panic analyze the ruling’s implications.
Gabor Simon Makes Partner at DLA Piper in Hungary
DLA Piper lawyer Gabor Simon has been promoted to a Partner position with the firm's Budapest office.
Rafal Kluziak Appointed Equity Partner While Katarzyna Waclawek and Piotr Miller Make Partner at DLA Piper
Former Local Partner Rafal Kluziak has been appointed an Equity Partner and former Counsels Katarzyna Waclawek and Piotr Miller have been promoted to Partner positions with DLA Piper in Warsaw.
Norton Rose Fulbright and DLA Piper Advise on PGE PLN 2.3 Billion Sustainability-Linked Financing
Norton Rose Fulbright has advised PGE Polska Grupa Energetyczna on a PLN 2.3 billion ESG financing from a banking consortium. DLA Piper advised the banks.
MFW Fialek and DLA Piper Advise on Sale of Renters.pl
MFW Fialek has advised the Renters.pl shareholders on their sale of a majority stake in the company to the Enterprise Investors-managed Polish Enterprise Fund VIII. DLA Piper advised the buyer.
ChatGPT and Competition Law: Some Initial Thoughts and Questions
Probably even the chatbot ChatGPT would be “surprised” to see how many new articles, essays, blogposts, personal posts and videos discuss issues around AI, and specifically, generative AI.
A Bit of a Downturn in Slovakia: A Buzz Interview with Michaela Stessl of DLA Piper
Amidst a wave of reorganizations and restructurings in the country, new businesses are looking to enter Slovakia – but have to face its new FDI screening mechanism. Despite the slight economic downturn, there is yet reason to hope for better days, according to DLA Piper Country Managing Partner Michaela Stessl, especially given the prospects of the automotive sector.