As of the 2024 financial year, companies in Hungary are facing new and stringent ESG (Environmental, Social, and Governance) reporting requirements under Act CVIII of 2023 (ESG Act). While large companies may already be familiar with the relevant EU directives (notably the CSRD and the CSDDD), the Hungarian regulations present unique challenges, especially for local subsidiaries of multinational corporations.

Cerha Hempel has advised AT&S on its sale of AT&S Korea to SO.MA.CI.S. Schoenherr, Latham & Watkins, and Kim & Chang reportedly advised the buyers.

In recent years, public concern about the roles of organizations in environmental issues has significantly increased. Governments, public institutions, and non-profits now demand that companies adopt environmentally friendly practices. Consumers are seeking “green” products and investors prefer companies that prioritize environmental care. This trend has led companies to adopt greenwashing strategies in marketing to attract eco-conscious consumers.

Schoenherr has advised a group of sellers of Flightkeys on an investment from Insight Partners. E+H, working with Willkie Farr & Gallagher, advised Insight Partners. Deloitte Legal-affiliated Jank Weiler Operenyi and Grohs Hofer reportedly advised other sellers of Flightkeys.

RTPR has advised PragmaGO on the acquisition of an 89% stake in Telecredit IFN from Reconstruction Capital II Limited and Elisa Rusu. Schoenherr advised the sellers.

AI is developing rapidly in Serbia and numerous initiatives are emerging daily. Therefore, a working group, which includes our Schoenherr expert Marija Vlajković, is already in the process of drafting a new Law on Artificial Intelligence. The final draft is expected by spring 2025.

E+H has advised CVI Investments and Heights Capital Management on the restructuring and insolvency proceedings of Fisker. Schoenherr advised Fisker.

Schoenherr has advised Tuplex on its acquisition of a stake in Sico Polska from Aleksander Goldschnedier, Piotr Klamecki, Ewelina Malinska, and Celina Zduniak.

Schoenherr has advised Danske Bank, Erste Group, ING, Natixis, and UBS, on Volksbank Wien’s invitation to existing holders of their outstanding EUR 400 million 2.75% fixed to fixed tier 2 notes with an interest rate reset date on October 6, 2022 to tender their notes for purchase by the company for cash. Schoenherr also advised the banks on the successful issuance of EUR 500 million 5.5% Volksbank Wien’s subordinated notes issuance. Wolf Theiss advised Volksbank Wien.

CMS has advised Erste Asset Management on its acquisition of Impact Asset Management. Schoenherr reportedly advised the sellers.

Schoenherr has advised mBank on financing the acquisition of Scan Lab by Enterprise Investors Fund IX. Gide advised Enterprise Investors.

Schoenherr has advised OMV Aktiengesellschaft on a EUR 1 billion corporate bonds issuance with Barclays, Erste Group, Mizuho, Raiffeisen Bank International, Societe Generale, and UniCredit serving as joint bookrunners. White & Case's Frankfurt office advised the joint bookrunners.

CMS has advised Santander Bank Polska, mBank, and Alior Bank on a seven-year syndicated financing for Golebiewski Holding.

Schoenherr, working with Gleiss Lutz, has advised Rehau Automotive on the sale of its European sealing and extrusion business unit to Vintech Industries. Taylor Wessing reportedly advised Vintech Industries.

Schoenherr has advised eSky Group on the financing of its acquisition of Thomas Cook from Fosun Tourism and Culture Group. Deloitte Legal reportedly advised Bank Polska Kasa Opieki and mBank. Reportedly, Dentons' UK office advised eSky Group on the acquisition and Reed Smith advised the sellers.

Schoenherr has advised mBank on the financing of Focus Telecom Polska's acquisition of Systell group companies. Dubinski Jelenski Masiarz and Partners and Porebski and Partners reportedly advised Focus Telecom.

When developing their models, AI providers use various data sets. Sometimes these are provided by their clients, as in the case of tailor-made chatbots, and sometimes the models are trained on licensed or even publicly available data.

Montenegro lacks specific legal regulations or national strategies for AI, with current AI activities governed by general legal principles from existing laws. Despite the absence of detailed regulations or strong government support, public awareness of AI is relatively high, with 59.1 % of citizens familiar with the technology. Several initiatives are actively promoting the safe development and use of AI, reflecting a growing public interest in influencing future AI regulations.