The Legal 500

Faludi Wolf Theiss

KÁLVIN TÉR 12-13, KÁLVIN CENTER, 4th FLOOR, 1085 BUDAPEST, HUNGARY
Tel:
Work +36 1 4848 800
Fax:
Fax +36 1 4848 825
Web:
www.wolftheiss.com
Email:

Hungary : Banking and finance

Within Banking and finance, Faludi Wolf Theiss is a third tier firm,

Faludi Wolf Theiss’ ‘quick’ and ‘committed’ team shows in-depth industry knowledge and the notable ability to ‘speak the language of the bankers’. It advises lenders, including Hypo Noe Gruppe Bank, on non-performing loans and corporate financing matters. Gábor Erdős is ‘a committed and experienced lawyer’ with ‘good communication skills’.

Hungary : Competition

Within Competition, Faludi Wolf Theiss is a second tier firm,

Faludi Wolf Theiss is highly regarded for its regulatory expertise, and its ‘good links with the competition authorities’. Practice head János Tóth regularly advises European companies on antitrust investigations by the European Commission and the Hungarian Competition Authority. Hyundai Motor Company is a client.

Hungary : Corporate and M&A

Within Corporate and M&A, Faludi Wolf Theiss is a second tier firm,

Faludi Wolf Theiss’ ‘experienced’ and ‘diligent’ team has a large Austrian client base and a strong network in the Balkans, and has targeted instructions from new entrants into the Hungarian market. ‘Professional’ practice head János Tóth recently advised ERGO Group on its acquisition of Victoria Biztosító, and assisted Alvogen Lux Holdings with an internal restructuring.

Hungary : Dispute resolution

Within Dispute resolution, Faludi Wolf Theiss is a second tier firm,

Faludi Wolf Theiss’ key focus is on energy and natural resources disputes, and senior associate Gábor Bárdosi regularly represents multinationals in arbitrations concerning supply contracts and damages claims. Name partner Zoltán Faludi recently acted for a European energy corporation in ICSID arbitration.

Hungary : Employment

Within Employment, Faludi Wolf Theiss is a third tier firm,

Faludi Wolf Theiss advises local clients on the labour aspects of corporate reorganisations. It also advises H&M on the full range of employment matters, and acted for Rail Cargo Hungária on employment compliance relating to a reorganisation. László Kenyeres heads the team.

Hungary : Energy

Within Energy, Faludi Wolf Theiss is a first tier firm,

Faludi Wolf Theiss’ team is ‘clearly one of the best’ for gas and electricity commercial and regulatory advice. Lead partner László Kenyeres recently advised a major petrol company on gas trading matters and, alongside Zoltán Faludi, represented Electrabel in an ICSID arbitration against the Republic of Hungary concerning the Energy Charter Treaty.

Hungary : Project finance

Within Project finance, Faludi Wolf Theiss is a first tier firm,

Faludi Wolf Theiss’ ‘excellent’ projects group earned a number of high-profile instructions involving commercial and residential real estate financings. It recently advised UniCredit Bank Austria on the financing of the second phase of a retail development, and played a leading role in the financing of K&H Bank’s new headquarters. It also advised BVMT on restructuring a financing facility relating to a gas-fired power plant in western Hungary. Senior associate Gábor Erdős leads the group.

Hungary : Real estate and construction

Within Real estate and construction, tier 4

Senior associate Gábor Erdős leads Faludi Wolf Theiss’ team, which recently advised a large insurer on a sale-and-leaseback transaction.

Hungary : Tax

Within Tax, Faludi Wolf Theiss is a second tier firm,

Faludi Wolf Theiss’ tax group operates in conjunction with its corporate offering, and specialises in international tax planning and structuring. Balázs Békés is ‘very experienced’, and has a background at a ‘Big Four’ accountancy firm. The team recently advised the Hungarian arm of a healthcare company on the transfer pricing implications of a proposed merger of its local operations.


Further information on Wolf Theiss

Please choose from this list to view details of what we say about Wolf Theiss in other jurisdictions.

Austria

Offices in Vienna

Bosnia-Herzegovina

Offices in Sarajevo and Banja Luka

Bulgaria

Offices in Sofia

Croatia

Offices in Zagreb, Rijeka, and Split

Czech Republic

Offices in Prague

Hungary

Offices in Budapest

Romania

Offices in Bucharest

Slovakia

Offices in Bratislava

Slovenia

Offices in Ljubljana

Ukraine

Offices in Kiev

Serbia

Offices in Belgrade

Legal Developments by:
Wolf Theiss

  • EU TRANSACTION TAX: ADDITIONAL BURDENS ON BANKS?

    The finance ministers of the European Union met again last week to discuss the plan of introducing a single EU financial transaction tax. According to the plan, a 0.1 percent tax would be levied on bond and capital transactions, while a 0.01 percent tax would be charged on derivatives transactions.
    - Wolf Theiss

Legal Developments in Hungary

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Hungary: energy regulator restructured and further cuts in utilities prices expected

    In 2013, Hungary has introduced a 10% household utilities price cut in the field of electricity, gas and district heating. To ensure thorough enforcement of the price cuts, the country's energy regulator was restructured and several barriers were set to prevent energy companies from passing on these burdens to consumers.
  • Real Estate 2013. Chapter 19: Hungary

    This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk )
  • Hungary: Amnesty for offshore wealth is over - is there any efficient way to tax it?

    Hungary seeks to impose a 35% withholding tax on offshore assets.
  • Lessons from the Most Recent Cross-Border Mergers with Hungarian Participation

    The complicated Hungarian legislation on domestic company mergers can cause headaches, including in cross-border mergers. These headaches result mostly from the fundamental differences between Hungarian law and the national laws of other EU member states, which remain applicable alongside the harmonised rules for cross-border mergers.
  • Hungary: Hungary to impose new tax on payment services

    On 9 July, the Hungarian Government adopted Act CXVI of 2012 on Financial Transactions Tax, which levies tax on payment services. The Hungarian government claims that this new tax - which is also being referred to as a "financial transaction levy" - is aimed at supplementing the extraordinary tax levied on Hungarian credit institutions. The tax comes into effect and will be payable as of 1 January 2013.
  • HUNGARIAN CASE LAW DEVELOPMENTS IN CARTEL MATTERS

    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”).
  • HUNGARIAN REAL ESTATE INVESTMENT TRUST REGIME

    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.
  • Implementation of the European Semester

    After the publication of the Annual Growth Survey (AGS) by the European Commission, the Hungarian Presidency undertook to implement the first ever "European Semester" a six-month period of each year in which Member States' budgetary and structural policies are reviewed to identify any inconsistencies and emerging imbalances, so as to facilitate coordination before major budgetary decisions are finalised.
  • LEGAL & TAX | NEWS September 2010

    BANKING & FINANCE  .  REAL ESTATE & CONSTRUCTION  .  PROCUREMENT & REGULATORY  .  EMPLOYMENT & PENSIONS
  • AMENDMENT OF THE FISCAL CODE AND OTHER FISCAL-FINANCIAL MEASURES

    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.