In the past few years, Hungary has witnessed accelerated merger trends in the fields of TMT, healthcare, and energy, among others. We reached out to several competition lawyers and spoke about Hungarian merger control regulations and the role of the Hungarian Competition Authority (HCA).
With the world slowly reaching what many scientists label “a point of no return” for climate change, countries worldwide are doing their best to combat environmental damage. To that end, the European Union has developed climate and energy targets for the upcoming decade, stating that it is “vital that we direct investments towards sustainable projects and activities.”
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.
According to the CEE Legal Matters CEE By The Numbers report, between 2019 and 2021, Ukraine saw a large decrease in the number of ranked law firms and lawyers at ranked firms. While in 2019 the number of Ukrainian law firms ranked by Chambers & Partners and Legal 500 was 95, in 2021 the same number decreased to 69. Similarly, the number of ranked-firm lawyers decreased from 1,579 in 2019 to 1,338 in 2021. The decreasing trend is particularly visible in comparison to other CEE countries.
The Slovakian legal market has, for quite some time, been a vibrant landscape of international law firms. Given the positioning of the central European country, and the proximity of major markets such as Austria, Poland, and Ukraine, Slovakia has been able to maintain the high number of international law firms, especially relative to other CEE jurisdictions. Taking a deeper dive into the reasons behind the persistence of such a high number of major international law firms, we reached out to legal professionals who work in Slovakia to get their insights.
Central European countries represented and continue to represent quite an attractive market for international investors, mainly due to the stable economic environment, relatively lower labor costs compared to the rest of the European regions, favorable tax environment, and the availability of tax incentives.
In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.
January is always a good time to look back, take stock, and make plans. And 2021, while a complicated year, was in no way uneventful. Across CEE, we’ve had lawyers and law firms variously reporting on – besides the obvious pandemic-related restrictions and increased work flexibility – a record year for M&A transactions, growing green energy, effervescent capital markets, a surprisingly solid real estate sector, ascendant ESG practices, a renewed focus on infrastructure, and TMT going from strength to strength.
Practicing IP has always been a tricky matter, given the complexity and the diversity of this area of law. We reached out to experts from several IP-focused law firms – Hungary’s SBGK, Serbia’s Petosevic Group, and Greece’s Drakopoulos – to learn more about their origins, specializations, structures, and operations.
The legal profession in Greece has changed and been upgraded in recent years in the context of providing legal services and support across a spectrum of economic, social, and technological developments. Modern lawyering is directly linked to the needs of the client in very specific areas (such as economy, energy, health, immigration, personal data, and artificial intelligence). In the past 30 years, Greece has witnessed the establishment of the institution of law firms, the transition to a new era of cooperative action, and the gradual abandonment of the legal office as the sole dominant model of legal practice. Law firms that form a structured group and provide a comprehensive package of services operate in a dynamic manner, evolving in line with market requirements. This is also a guarantee for young lawyers who seek better working conditions, remuneration, and career prospects.
More than 15 years ago, when I graduated from law school in Romania, there were few opportunities for a young lawyer. You could either be an apprentice for a senior lawyer, your ‘master’ as they were called, trying to ‘steal know-how’ from anywhere you could, or, for the luckier ones, you could be employed by one of the only two business consulting law firms that were on the market – a national one and the only international law firm – Linklaters. I was one of the lucky ones. I passed my bar exam and started working as a junior lawyer in the latter. And thus, my journey as a CEE lawyer began.
While public perception in Serbia on joining the EU has generally been positive, according to Karanovic & Partners Senior Partner Dragan Karanovic, “recent research suggests that the overall enthusiasm of the public has taken a slight decrease, establishing a polarized, almost fifty-fifty view towards EU accession.”
On June 17, 2018, the Republic of North Macedonia and the Republic of Greece concluded the Prespa Agreement which, according to Pepeljugoski Partner Valentin Pepeljugoski, “resolved the name issue as a historical problem between the countries and was a step forward for North Macedonia to become an EU member.” After Bulgaria opposed the start of accession negotiations in October 2020 and again in June 2021, he says that “the country’s next hopes for EU membership are tied to the EU Summit on December 14, 2021, when a date for the start of negotiations with the EU is expected. The focus in the next period is on preparing the administration for all challenges related to the negotiation process, starting from the screening to the achievement of the final goal.”