Eversheds Sutherland has announced it is combining with Sofia-based "long-standing relationship firm" Tsvetkova Bebov & Partners, as of June 22, 2022.
Baker McKenzie has advised Palfinger on establishing its European Works Council. Babic & Partners, Djingov Gouginski Kyutchukov & Velichkov, Nestor Nestor Diculescu Kingston Petersen, and Jadek & Pensa advised Palfinger on Croatian, Bulgarian, Romanian, and Slovenian law-related matters, respectively. Bech-Bruun, Arntzen de Besche, and PBBR reportedly advised on Danish, Norwegian, and Portuguese law-related matters.
Energy prices have been a salient issue in CEE for the past year. Part 1 of this article covered just how high the energy prices had climbed in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey, the impact of those prices on people, businesses, and governments, as well as the reasons why some countries fared better than others. Then Russia’s war against Ukraine changed everything, making a new energy pricing normal seem more distant than ever. In Part 2 we look at what energy experts believe could alleviate the situation and whether the war has impacted those plans.
In most countries, the energy consumption of buildings reaches very high levels, making their energy efficiency potential high. Buildings play an important role in energy efficiency and make a significant contribution to combating climate change and energy consumption. Therefore, it is important to align the process, from the buildings’ design to their final completion and exploitation, with the pertinent green standards.
On May 19, 2022, CEE Legal Matters reported that CMS had advised Portugal's MGI Capital on the sale of Bezmer Energy to Philicon-97. CEE In-House Matters spoke with Pedro Lameira, CFO at MGI Capital, to learn more about the sale.
In January 2022, the new Regulation (EU) 2021/2282 of the European Parliament and the Council of the European Union of 15 December 2021 on health technology assessment (the "HTA Regulation") entered into force on the territory of the European Union. The HTA Regulation aims to harmonize (but not to fully centralize) the currently fragmented procedure for assessing the health technologies of innovative medical therapies entering the European Union market in different European countries. The HTA Regulation shall begin to apply in stages from 12 January 2025 and the European Commission has already approved an implementation plan until that date, which includes mainly the establishment of the information resources needed for its operation, the creation of new supranational bodies to participate in the application of the Regulation and training of the competent national authorities.
On January 18, 2022, CEE Legal Matters reported that Tsvetkova Bebov & Partners had advised Dronamics Capital on its IPO and listing on the Beam market of the Bulgarian Stock Exchange. CEE In-House Matters spoke with Svilen Rangelov, Co-Founder and CEO at Dronamics Capital to learn more about the matter.
US-based and other multinational employers with subsidiaries in Bulgaria often include their Bulgarian employees in their equity plans and grant them equity awards. Implementing an international equity plan in Bulgaria for the first time can be challenging for any multinational employer, as they should ensure compliance with Bulgarian laws and regulations. Tax compliance could raise particular concerns, as Bulgarian tax law is silent on many issues and the views of the Bulgarian tax authorities lack consistency throughout the years.