According to the legislation in force in Hungary, when entering into a sale or lease contract of a real property, the buyer or tenant must declare in the contract that he/she has received a document called energy performance certificate (“EPC”) which certifies the energy performance rating of the property and EPC’s unique identification number shall be included in the contract.
Global law firm Baker McKenzie organized a competition and regulatory conference for pharma in Central and Eastern Europe (CEE) in Warsaw. During the conference, Baker McKenzie experts highlighted the hot topics of recent developments in EU Competition Law and Pharmaceutical Regulation that have direct effect on companies in the pharma and life sciences sector, discussing practical and pragmatic solutions with special regard to regional aspects in CEE in two round tables. The first one looked at recent competition law developments.
Hogan Lovells and its Hungarian affiliate Partos & Noblet have advised Nissan on the sale of its Polish business – Nissan Sales Central & Eastern Europe Korlatolt Felelossegu Tarsasag – to Astara Mobility subsidiary Astara NIP Poland. Domanski Zakrzewski Palinka, working with Cuatrecasas, advised Astara.
Sustainability is crucial for ensuring the long-term wellbeing of the planet and future generations. It encompasses responsible practices that preserve natural resources, mitigate climate change, and promote social and economic balance, ultimately creating a harmonious and sustainable world for all.
The Hungarian telecoms market saw several major transactions during the past few years, with 2022 and early 2023 witnessing undoubtedly the largest transaction in decades: the acquisition of Vodafone Hungary by 4iG (51%) and state-owned Corvinus Zrt. (49%) for a deal value of approximately EUR 1.7 billion.
In terms of legislation, first, a long-awaited amendment of the insolvency act allows the liquidator to upkeep the debtors’ operation during the liquidation process even if it is at a loss, if it can be assumed that the operation preserves the assets better than shutting off the business would. The liquidator can decide to continue the operation for the first 120 days of the liquidation procedure, but any further extension of this operation period requires the approval of the court.
The escalation of the war in Ukraine in February 2022 shocked Hungary’s energy sector to such an extent that the Hungarian government declared a state of energy emergency by its resolution dated July 15, 2022. After the first anniversary of the escalation, the smoke has cleared enough to draw conclusions regarding the future based on the reactions of the stakeholders.