The Legal 500

Hungary

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Editorial

Legal market overview

Government-driven transactions, particularly in the utilities and banking sectors, have generated an increased work flow for law firms, who also report a cautious rise in private M&A activity and in real estate instructions from foreign investors; funds are spotting opportunities in an undervalued property market, particularly in Budapest.

Hungary’s crisis years saw the departure of several global firms from the country, leaving behind a more streamlined legal industry. May 2015 saw the exit of another international firm, with the departure of Réczicza White & Case LLP and the simultaneous move of the team to Dentons, whose transactional capability has been significantly bolstered by the acquisition. Tamás Tercsák, a former name partner at Dentons, joined CMS as counsel in October 2015. Gide Loyrette Nouel exited the market in late 2015 – its former team joined JeantetAssociés

While the market overall is relatively stable in terms of lawyer moves, competition law was one practice area which saw many changes over the course of 2015, with firms strengthening their departments with hires from other firms and from the Hungarian Competition Authority. The highest-profile of these moves has seen Ákos Kovach, formerly of Gide Loyrette Nouel, re-join Partos & Noblet in co-operation with Hogan Lovells International LLP, the firm he left in 2009.

Interview with...

Law firm managing partners and practice heads explain how their firms are adapting to clients' changing needs

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