Hungary > Banking and finance
Banking and finance
Andrékó Kinstellar emerged from the Linklaters network, and in the last year, the eight-strong team was ringside to some of the biggest transactions of the year. Managing associate Edina Schweizer led advice to Merrill Lynch Investment Banking, transaction adviser to Merrill Lynch Global Private Equity as it bought the Euromedic group for €800m, and to ProLogis Developments refinancing its real estate portfolio across the region to the tune of €276m. Clients also included MKB and the European Investment Bank.
CMS Cameron McKenna LLP’s Erika Papp, supported by newly-promoted partner Árpád Lantos, heads a strong and predominantly bank-facing team. In 2008, clients included domestic FHB Bank introducing an innovative mobile payment system and Calyon Bank on its transformation into a branch. CIB Bank brought a number of real estate projects to the firm.
Banks are the largest group of clients at the Lakatos, Köves and Partners practice, where in 2008 Gábor Felsen advised Barclays Bank, Barclays Capital and DVB Bank on the $1.3bn financing of two Airbus aircraft. Other clients included ING and BNP Paribas on their €150m syndicated facility to Hungarian electricity company MVM.
Morley Allen & Overy Iroda advises international banks on regional financing work. Marcell Németh is the relevant partner.
Gide Loyrette Nouel – Ferenczy’s team, headed by Balázs Ferenczy, has consistently proved itself on a number of strong mandates. It was called on to advise Fortis Bank and four other lending banks arranging a sizeable loan facility. It also advised Hypo International Real Estate Bank refinancing the ProLogis property portfolio. BNP Paribas and Unicredit are clients.
Horváth & Partners DLA Piper’s lender-based practice specialises in asset finance and refinancings. Practice head, partner Péter Györfi-Tóth, recently appointed arbitrator at the Financial and Capital Market Court of Arbitration in Budapest, advised Erste Bank financing a €43m airport development. Clients include Barclays Bank and Eurohypo.
Oppenheim has consolidated its strong position in the market in the year since it transformed from its former role as Freshfields Bruckhaus Deringer’s Budapest office, adding two lawyers. In 2008, ‘dedicated and professional’ partner Mihály Barcza led cross-border work including a $1.6bn multi-jurisdictional acquisition financing for Rank Group. The five-fee earner team also acted for LaSalle Trust Services as security trustee on a €1bn financing. Clients praise ‘dedication to provide high quality work within tight deadlines.’
Károly Fóti heads Réczicza White & Case LLP’s bank-focused practice, strengthened during the year with the arrival of project finance specialist Gergely Horvath, previously of Lakatos, Köves and Partners, and new clients including the European Investment Bank, Deutsche Bank and BNP Paribas. The firm acted as Hungarian legal advisers to Commerzbank and UBS on a senior facility financing worth €500m.
Siegler Law Office/Weil, Gotshal & Manges’ ‘high quality’ team is headed by ‘outstanding expert’ partner Konrád Siegler. It acted for long-term client Dunaferr, the Hungarian steel producer, on a $240m bridge finance facility and a $350m long-term syndicated finance facility. It also advised SPE Bank, a subsidiary of private equity client Silver Point Group, gaining permission to operate in Hungary.
Law Office of Gárdos, Füredi, Mosonyi, Tomori is known and rated in the Hungarian legal market for its work with banks and other financial institutions setting up in Hungary.
Martonyi és Kajtár Baker & McKenzie has seen a number of departures during the year including that of highly-rated banking and finance partner Zoltán Martonyi, who is setting up his own practice. Its best-known lawyers are Dusán Lásztity and Csaba Ember, who advised clients including Mol and Dresdner Bank on loan agreements during the year.
In the last year the two-partner team at PRK Partners/Bellák, newly-listed following its formation as a regional law firm through a merger in 2008, advised Inter-Európa Bank in its merger with CIB Bank and in loan agreements, including a €30m facility to Boscolo Hotels. Partner Zsuzsanna Karolyi was appointed an independent arbitrator in the Permanent Arbitration Court for Money and Capital Markets in 2008.
Christopher Noblet of Partos & Noblet has been busy advising borrowers on refinancings. New clients during the last year included the Hungarian Development Bank setting up a venture capital fund, and fund management company Garamtiqa.
Szecskay Attorneys at Law’s partner Judit Budai heads a team that advises banks and borrowers. Recent highlights include negotiating a €100m term lending facility from Dexia Kommunalkredit Bank and Kommunalkredit Austria to Eximbank.
Bihary, Balassa & Partners Attorneys at Law’s partner Agnes Balassa advises foreign and domestic banks as well as advising real estate developers on financing.
Partner Andrea Kovács heads the Burai – Kovács & Partners team, which has particular expertise in advising banks that are financing energy projects.
e|n|w|c Natlacen Walderdorff Cancola Attorneys at Law advised client Paulson & Co on new legislation affecting its shareholding in Mol.
Erös Ügyvédi Iroda Squire, Sanders & Dempsey L.L.P. represented ING Real Estate on a €25m-plus property refinancing, and private equity clients securing €200m in leveraged financing to buy telecoms firm GTS Central Europe.
K&P Attorneys-at-Law’s Kornélia Nagy Koppány has a track record in insurance and banking privatisations.
Nagy és Trócsányi advised banks including Dresdner Bank, Frankfurt and Deutsche Bank Luxembourg, on the Hungarian aspects of their international lending.
Schönherr’s Judit Vadász advises banks on project financing.
Szabo Kelemen & Partners Attorneys tends to act for borrowers financing real estate deals but in a recent financing acted for a group of Italian banks. Clients praise the ‘first-class service’.
Radnóczy & Mészáros Nörr Stiefenhofer Lutz traditionally acts for German banks, but has recently added new clients including HSBC and RBS.
Réti, Antall & Madl Landwell’s Tibor Szabó advised a Hungarian food processing company setting up a €40m syndicated credit facility.
Sándor Szegedi Szent-Ivány Komáromi Eversheds’s Ágnes Szent-Ívany advises both international lenders and borrowers.