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Hungary > Law firm and leading lawyer rankings
- Legal market overview
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Legal market overview
Hungary’s economy continued to improve in 2016, with most law firms being cautiously optimistic about 2017. The M&A market revived significantly in Hungary and across the CEE region. Although private equity has been comparatively quiet, it has seen some resurgence since 2014. The IT and technology sectors continue to be appealing for strategic buyers and private equity investors.
The Hungarian state and state-owned entities play a central role in the M&A market as active participants in deals, particularly in the energy and financial services sectors. Major transactions included the sale of the Budapest Stock Exchange by Austrian shareholders – who previously held a 68.8% stake – to the Hungarian National Bank.
A boom in the commercial real estate sector, especially in the office building segment, has been driven by foreign investment, although there has also been an uptick in local investment.
The legal market witnessed a number of personnel changes during 2015 and 2016. In a notable shake-up, corporate and competition specialists Ádám Máttyus and Eszter Ritter joined Lakatos, Köves and Partners from Andrékó Kinstellar.
A mix of strong local, regional and international firms compete in Hungary. The associated law offices of the Big Four accounting firms also continue to make strides, increasingly establishing themselves in various fields including commercial, corporate and M&A work, tax and financing.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
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Although performance-based compensation has long been an integral part of Hungarian employment law, neither the Labour Code nor the relevant commentaries provide a clear-cut definition of a 'bonus'. As a result, the definition and key legal principles governing bonuses have been developed by court practice. read more...
A recent second instance judgment by the Metropolitan Court of Appeal (“Court of Appeal”) provides some interesting insight into the court’s approach in cartel matters. The case before the Court of Appeal concerned the second instance review of a first instance judgment that annulled certain parts of the decision of the Hungarian Competition Office (the “HCO”).
Hungary is the first country in the CEE region to introduce the real estate investment trust (REIT) regime on the back of US and Western European examples. The new REIT regime took effect on 27 July 2011.
BANKING & FINANCE . REAL ESTATE & CONSTRUCTION . PROCUREMENT & REGULATORY . EMPLOYMENT & PENSIONS
Government Emergency Ordinance no. 58 (the “Ordinance”) for the amendment and completion of Law no. 571/2003 regarding the Fiscal Code (the “Fiscal Code”) and other fiscal-financial measures was published in the Official Gazette of Romania, Part I no. 431 of June 28, 2010. The Ordinance shall enter into force on July 1, 2010.
Changes in the court and authority delivery.
This article tries to shed light on an important area of trade mark law in connection with a decision recently handed down by the European Court of First Instance (the "CFI"), more specifically with respect to the complex question of similarity between marks and confusion of the public. This question is naturally an issue of fact and evidence and is - to a large extent - imbued with subjectivity. Therefore, new cases brought before the courts always have to be assessed afresh, taking all the surrounding circumstances into consideration, and the outcome can at times be surprising, even for experienced trade mark lawyers.
TRANSFER BY THE EMPLOYER OF EMPLOYEES' PERSONAL DATA TO THE US FROM THE PERSPECTIVE OF HUNGARIAN DATA PROTECTION LAWS: In this article, we briefly address the issue of what requirements prescribed by Hungarian laws on data protection must be complied with by an employer that wishes to transfer the personal data of its employees to the United States.
The Supreme Court's decision in this Sopron underground parking lot case has been one of the hottest topics in the legal playing field in the past few months. We briefly discuss the decision below, and describe a possible way to solve the problems it has raised.
A practical insight to cross-border Environment Law
Employers ought to tread carefully when it comes to terminating an employment relationship during the probationary period, as a reduced notice period for dismissal only applies if the employment contract has been clearly drafted.
Legal 500, the world’s legal guide to the leading law firms and outstanding lawyers in over 100 jurisdictions, has recently released tiered rankings for the EMEA region for 2017. We are extremely proud that our law Firm is placed in the TOP tier rankings for Cyprus.
Igor Chumachenko for radio Business FM: courts must observe balance of interests of co-investors andVEGAS LEX partner Igor Chumachenko has commented on recovery of damages from developers for failure to meet construction deadlines for Radio Business FM.
Kuoni Travel Holding Ltd, owned by EQT VII, a fund of the private equity group EQT, and the Kuoni and Hugentobler Foundation, has entered into a binding agreement on the sale of its GTD business division (GTA) to Hotelbeds Group, owned by a consortium led by Cinven und Canada Pension Plan Investment Board (CPPIB). The shareholders of Kuoni Group will roll-over a large portion of their participation in GTA into the combined Hotelbeds/GTA business and upon completion, will hold a substantial minority stake in the combined Hotelbeds/GTA business. Completion of the transaction is subject to customary closing conditions, including merger control filings and approvals.
Studio Legale Villata, Degli Esposti e Associati is pleased to announce the forthcoming publication of a volume on the reform of the Italian Public Procurement Code. A number of experts in Administrative and Public Law will contribute to the work, which is coordinated by Professor Villata.
Manager of Life sciences projects Maria Borzova has led a workshop on main trends in administrative and judicial practices in public procurement of medicines.
On 13 April, VEGAS LEX hosted the roundtable discussion “Advertising of Medicines: Good Practice Criteria?” with the participation of FAS Russia's Department for Control over Advertising and Unfair Competition. Major pharmaceutical manufacturers and representatives of professional associations took part in the discussion.
It is possible for a works council to push through the dismissal of an employee, as demonstrated by a recent ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, from March 28, 2017 (Az.: 2 AZR 551/16).
Aziz Rahman explains what those trading internationally need to do to ensure they are not targeted by money launderers.
Health claims in relation to mineral water need to be consistent with the Health Claims Regulation. This was confirmed by the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, in its ruling of January 30, 2017 (Az.: I ZR 257/15).