Client Alert
Romania: Employee Handbook once again mandatory for SMEs
On 14 September 2022, the Romanian Chamber of Deputies sent for promulgation the law rejecting the Government Emergency Ordinance no. 37/2021 (GEO 37/2021) amending and supplementing Law no. 53/2003 of the Labour Code (Labour Code), hereinafter the Rejection Law. This amendment (re)imposes obligations on microenterprises (SMEs) regarding the obligation to draft and implement certain employment-related documents […]...
Amendment to the Czech Act on Ultimate Beneficial Owners
Only one year has passed since the new law on the registration of ultimate beneficial owners, i.e. Act No. 37/2021 Coll. (“UBO Act”) became effective in the Czech Republic. However, the Czech government has already enacted an amendment to the UBO Act (i.e. Act No. 245/2022 Coll.) which will become effective on 1 October 2022 […]...
New Government Emergency Ordinance Regulating the Romanian Energy Market
On 1 September, 2022, the Romanian Government enacted a new government emergency ordinance (“GEO 119/2022”) regulating the Romanian energy market and which further amends Government Emergency Ordinance No. 27/2022 on the measures applicable to final consumers of electricity and natural gas for the period 1 April 2022 to 31 March 2023 (“GEO 27/2022”). The most […]...
Hungarian Energy Market: Energy market players that are members of the MSZKSZ will face rising costs over the next six months
*available also in Hungarian below Some energy trader costs related to gas stockpiling will increase in the future and the details of this have just been recently published. Hungary’s Minister of Innovation and Technology has revealed the level of contribution certain natural gas traders and other market players will have to pay in order to […]...
Enlargement of the Eurozone: Road Map to the Introduction of the Euro in Croatia
*Status as of 20 February 2023 Croatia entered the European Union on 1 July 2013, but 1 January 2023 is the date when Croatia will actually enter the Eurozone. This means that the Euro (EUR) will become the official currency in Croatia and that the Croatian Kuna (HRK) will be consigned to history. Our experts […]...
Romania: update to the legal framework of representative offices
On 4 August 2022, the Romanian Government issued a new ordinance no. 18/2022 (GO 18/2022) which replaces the former decree-law for the authorisation and functioning of foreign entities’ representative offices in Romania, aimed at simplifying and digitalising a process that has remained unchanged since 1990. The main changes are: Dedicated digital platform All requests for […]...
Hungarian Energy Market: Changes to capacity rules on available grid connection – what can developers expect?
*available in Hungarian below Introduction Critical information for power plant investors and developers: due to the armed conflict in Ukraine and the much broader energy crisis, the government of Hungary has amended the rules on available free grid connection capacities and the related individual procedures. Published available grid connection capacities On 09 August 2022, the […]...
New restructuring regime in Hungary
The arrival of the eagerly awaited Restructuring Act Due to the transposition of Directive (EU) 2019/1023 through the Restructuring Act, which entered into force on 1 July 2022, a new preventive restructuring framework under Hungarian law is now applicable.1 Objective of restructuring generally The essence of restructuring is that companies in financial difficulties, when there […]...
One year of foreign investment screening in the Czech Republic
Last year, the new Czech Act on the Screening of Foreign Investments (the “FDI Act”) was enacted. In its first year, no investments were prohibited, but two investors withdrew their applications for approval during the proceedings. These are the two most important takeaways from the first annual report issued by the Ministry of Industry and […]...
Ukrainian Parliament Introduces Tax and Customs Incentives for Industrial Parks
The Russian military aggression against Ukraine raises new challenges for Ukrainian society, businesses and the country’s economy. The instruments designed to restore the national economy and create favourable business environment for the future are further developing out of the legal framework on industrial parks in Ukraine. On 21 June 2022 the Parliament of Ukraine passed […]...
The international arbitration review
International arbitration is a fast-moving legal field. Our colleagues from Bulgaria and Austria take a look at recent developments in their countries and comment on the most important matters in the 2021 International Arbitration Review....
Are your trademarks “meta” enough? Protecting trademarks in the metaverse
Trademarks in the metaverse Despite undeniable uncertainty in defining its parameters, one thing seems certain. The metaverse is here to stay. The concept appears simple: a virtual space that allows its users to experience the internet or practically any digital content in the most immersive way possible. In practice, however, the metaverse raises numerous questions […]...