Client Alert
Ukraine redesigns its insurance legal framework
On 18 November 2021, the Parliament of Ukraine adopted the Draft Law “On Insurance”, No.5315 (the “Insurance Law”). This law has been heavily supported by the National Bank of Ukraine (the “NBU”), which has recently become the insurance market regulator. The Insurance Law is expected to be signed into law by the President of Ukraine. […]...
Energy price crisis in Hungary: Exiting renewable energy support schemes is an option for developers
The unforeseen energy market conditions this year – in particular the dramatic increase of the electricity prices – have posed a significant challenge for producers participating in the KÁT (feed-in-tariff) and METÁR (premium support) support schemes in Hungary. Regarding the KÁT system, the subsidised price is currently lower than the market price. The METÁR producers […]...
Polish Deal – Surprises for employers and board members
The Polish Deal brings more surprises than the Government’s announcements would suggest. In the Government’s draft changes published last week, there were proposals that will significantly affect employers and Board members – in a negative way, of course. ...
Insolvency law, metrics, & plenary proceedings in Austria
In-depth information on current market conditions and insolvency case developments By Eva Spiegel and Alexander Zollner This detailed overview of insolvency law, metrics and proceedings in Austria provides both practitioners and business readers with a clear picture of the underlying legal framework and policy, along with a sharp picture of ongoing developments in Austria, including […]...
Employers in Hungary are now permitted to require vaccination
In response to the 4th wave of the pandemic, the Government Decree 598/2021 (X. 28.) (the “Government Decree“) in Hungary grants employers the right to unilaterally choose to require their employees to be vaccinated against COVID-19. Employers should take into consideration the following when requiring vaccination: Based on the wording of the Government Decree, […]...
Following in the footsteps of Italy: Will the right to work in Romania be conditional upon holding a Covid-19 Green Pass?
A new draft law in Romania prevents access to the workplace absent a Covid-19 Green Certificate. The new measures are applicable during the state of alert for, among others, all employers (public or private) which have offices in buildings where there are more than 50 people at a time. The draft law is a result […]...
METAR tender in Hungary: Changes in the procedural rules and financing instruments
Introduction Earlier this month, some important legislative changes were announced regarding the METAR tender, which aims to support renewable energy producers. The most significant amendments to NFM Decree 62/2016 (XII. 28.), which contain the rules of the tender procedure, entered into force on 2 October 2021. NFM Decree 63/2016 (XII. 28.) on the detailed rules […]...
Poland: Remote work “after” Covid-19 and the changing needs of employees
Despite the approach of the fourth wave of Covid-19 in Poland, employers are becoming bolder in expressing their desire to return to a regular working pattern. The fact that we are slowly getting used to Covid-19 has resulted in approximately 88% of employers wanting their employees to return to their offices. Is this the best […]...
Private Equity in Central and Eastern Europe
Private equity had a strong start in 2021, and its popularity only continues to rise, with significant activity in Central and Eastern Europe. It is an important segment of the M&A market, and projections for continued investment remain high. Understanding the local investment landscape and legal requirements surrounding private equity is a fundamental first step. […]...
Ukraine: UBO disclosure compliance
10 October 2021 is the final deadline for the submission of information and documents with respect to the Ultimate Beneficiary Owners (UBO) of Ukrainian legal entities. There is a possibility, however, that this deadline may be extended (presumably to July 2022) if the Parliament of Ukraine adopts the draft law which, among other things, provides […]...
Legislative changes in Slovenia impact the future lease agreements for business premises
THE AMENDMENT OF THE HOUSING ACT BRINGS SIGNIFICANT CHANGES FOR COMMERCIAL LEASE RELATIONSHIPS On 19 June 2021, the amendment to the Housing Act entered into force and brought a number of changes regarding Slovenian real estate legislation. With respect to the leasing of business premises, the amendment significantly changed commercial leasing regulation by repealing the […]...
Ukraine creates national legal framework for cryptocurrencies
The legal status of cryptocurrencies in Ukraine remained unresolved for quite some time. In the absence of a clear regulatory environment, the Ukrainian central bank declared cryptocurrencies (Bitcoin) as quasi-money/a monetary substitute, while issuing warnings about the risk of transactions in cryptocurrencies and even found signs of pyramid schemes in these transactions. At some point, […]...