Client Alerts
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 […]...
Developments on whistleblowers’ protection in Romania
The newly-adopted law, primary immediate reactions and practical considerations On 29 June, the Chamber of Deputies, as the decision-making parliamentary chamber, adopted the law on the protection of whistleblowers in Romania. In its approval process, this law, which was originally intended to transpose into national law as EU Directive 2019/1937 (also known as the “Whistleblowing […]...
Romania: Amendments to the Process for Connection to the Electricity Grid and Permitting of Renewable Energy Projects
The Romanian authorities have become increasingly focused on facilitating the development of renewable energy projects in the country, particularly given the increased need for energy independence. Therefore, the following normative acts have recently been adopted: Order no. 81/2022 amending and supplementing the Regulation on the connection of users to the electricity networks of public interest; […]...
EU sanctions and updates to Compliance Programmes
Legislative proposals for criminalising sanctions breaches and stricter frameworks for asset confiscation In addition to adopting its sixth sanctions package against Russia, the European Commission has issued a series of legislative proposals to streamline the implementation of EU sanctions at national level. These include measures that would criminalise the violation of EU sanctions against Russia […]...
New Waste Management Framework in Ukraine
Ukrainian Parliament plans for the country’s future as a sustainable nation and potential European Union membership through the new “Waste Management Law”. Meanwhile, the comprehensive regulating and planning will make the industry more attractive and reliable to investors. On 20 June 2022 the Ukrainian Parliament adopted a draft of the new Law of Ukraine “On […]...
Hungarian Energy Market: Energy authority warns on gas contracts for next year as options narrow
*available in Hungarian below “On 1 October, the contracts of free market gas purchasers expire, so it is advisable to ensure that new contracts are concluded now” – the Hungarian Energy and Public Utility Regulatory Authority (HEPURA) said in a recent statement. According to the HEPURA, gas traders will try to reduce their risks by […]...
Hungarian Energy Market: notable market changes since launch of WT RES Guide 2022
*available in Hungarian below Wolf Theiss recently issued its comprehensive guide to “Generating Electricity from Renewable Sources in Central, Eastern, and Southeastern Europe” for 2022 (RES Guide), accessible here. Similar to other countries, there has been some movement in Hungary since the publication of the RES Guide. In a recent conference held to discuss the […]...
Hungarian Energy Market: Details published of windfall taxes and tax increases affecting the energy sector
(also available in Hungarian below) Key takeaways The Hungarian Government adopted and published the detailed rules of the new windfall taxes and other related amendments affecting the energy sector. The special tax will primarily affect petroleum product manufacturers, power plants producing electricity from renewable energy sources, waste or by using cogeneration, and those liable to […]...