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Browse through a selection of articles from our legal experts on topics of interest to investors and businesses in our region.

Obligation to disclose “ultimate beneficiary” in Slovak public procurement law

December 2015 - A recent Amendment to the Public Procurement Act seeks to uncover those who are the ultimate beneficiaries of entities signing contracts with the public authorities and aims to make the tender process more transparent. As of 1 November...

Slovakia introduces ‘company in crisis’ regulation

December 2015 - The new “company in crisis” special regime will become effective on 1 January 2016. It applies to limited liability companies, joint-stock companies and limited partnerships in which the general partner is not an individual.

Unilateral termination of labour contracts by employees may trigger the collective redundancies procedure

November 2015 - According to the European Court of Justice, employees leaving a company after the employer has introduced significant changes to the employees’ detriment may qualify as “redundancy” for the purposes of the Collective Redundancies...

New regulation on the insolvency of individuals in Romania – does this pose a threat to lenders?

November 2015 - Law no. 151 on insolvency procedures for individuals[1] (the “Law”) is expected to enter into force on 26 December 2015. The Law was published on 18 June 2015, but its entry into force was deferred by six months in order to allow the...

Impact of new Romanian data retention legislation on providers of electronic communications

October 2015 - A new law (no. 235/2015) amending the legislation governing the processing of personal data and privacy in the electronic communications sector was published in the Official Gazette on 14 October 2015 and has entered into force (the “New...

Cross-border personal data transfers from CEE following the annulment of the Safe Harbour Decision

October 2015 - On 6 October 2015, the European Court of Justice annulled the European Commission’s previous decision that enabled companies to transfer personal data between the European Union and the United States without having to go through full-blown...

EC proposal seeks to kick-start the European market for asset-backed securities

October 2015 - Оn 30 September 2015 the European Commission provided a significant legislative push in order to achieve its Capital Markets Union agenda as set out in February this year, which is designed to unlock funding for businesses in Europe and...

Issues to consider before acquiring non-performing loans in Bulgaria

September 2015 - According to information from the Bulgarian National Bank (“BNB”), over the past few years non–performing loans[1] (“NPLs”) have come to represent around 20% of all loans in the Bulgarian banking system. Although this is not...

Public debate on the binding commitments offered by GlaxoSmithKline in an investigation for abuse of dominance, in Romania

September 2015 - On 2 September 2015, the Romanian Competition Council (“RCC”) published on its website a series of commitments proposed by GlaxoSmithKline SRL (“GSK”) in the context of the RCC’s investigation regarding a potential abuse of...

Recent developments in the implementation of the European Energy Union

August 2015 - As part of its European Energy Union strategy announced in February 2015 and subsequently confirmed by the European Council, the European Commission (the “Commission”) recently published a set of energy-related laws, legislative proposals...