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Réczicza White & Case LLP

ANDRÁSSY ÚT 11, 1061 BUDAPEST
Washington DC, Warsaw, Tokyo, Stockholm, Singapore, Shanghai , and 30 more

What we say about the firm's legal practice in Hungary

Banking and finance

Within Banking and finance, White & Case LLP is a second tier firm,

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.

Capital markets

Within Capital markets, White & Case LLP is a first tier firm,

Zsuzsa Kovács heads a well-balanced team at Réczicza White & Case LLP. Kovács recently advised AAA Auto Group listing on the Budapest Stock Exchange, while the firm acted as Hungarian counsel to Plaza Centers, listing on the London Stock Exchange. Edward Keller and Orsolya Szabó acted as UK, US and Hungarian counsel to Invitel on FRN and PIK Note offerings worth more than €340m in total. Clients are ‘happy with their style.’

Competition

Within Competition , White & Case LLP is a second tier firm,

Réczicza White & Case LLP’s Ildikó Czák leads an experienced and strengthening six-strong team of experts. A new recruit in 2008 was András Tóth, previously of the Hungarian Competition Office. The team’s workload ranges from abuse of dominant position investigations to unfair competition disputes, the latter for blue chip names including Colgate-Palmolive and Citibank. The team also represented MABISZ, the Hungarian Insurance Association, in a cartel investigation in which the organization was cleared.

Dispute resolution

Within Dispute resolution, White & Case LLP is a second tier firm,

Réczicza White & Case LLP continues to prove its quality, winning new client HJ Heinz. István Réczicza, who leads work on the case, also acted for Deutsche Bank in an unjust enrichment case. Competition specialist Ildikó Czák acted for Colgate-Palmolive challenging a Hungarian Competition Office fine of more than $1m.

Energy

Within Energy, White & Case LLP is a first tier firm,

Réczicza White & Case LLP is strong on regulation, competition and M&A transactions related to energy companies. An impressive client roster includes Hungarian electricity company MVM, Égáz-Dégáz, a Hungarian subsidiary of Gaz de France, and Electricité de France. Work for MVM included representation in its dispute with electricity generation company Dunamenti Erömü, led by István Réczicza.

Intellectual property

Within Intellectual property, White & Case LLP is a third tier firm,

Recent new clients at Réczicza White & Case LLP include Organica and Nestlé, the latter advised on IP issues following its acquisition of the Balaton chocolate wafer company.

Legal market

Within Legal market,

International law firms first came to Hungary during the privatisations of the 1990s and, for some, the Central European country remains significant. Budapest, as capital, is a convenient base from which to handle investment into the Balkans as well as Russia and the Ukraine. International firms represented in Budapest include London firms Morley Allen & Overy Iroda, Lakatos, Köves and Partners and CMS Cameron McKenna LLP, as well as US firms Réczicza White & Case LLP, Martonyi és Kajtár Baker & McKenzie, and Siegler Law Office/Weil, Gotshal & Manges. Large continental European firms with offices in Budapest include Germany’s Radnóczy & Mészáros Nörr Stiefenhofer Lutz and France’s Gide Loyrette Nouel – Ferenczy.

Mergers and acquisitions

Within Mergers and acquisitions, White & Case LLP is a first tier firm,

‘Outstanding’ Réczicza White & Case LLP boosted its transactional fee-earner headcount to 16 with hires including Macedonian and Slovenian citizens, reflecting the firm’s emphasis on cross-border work. Rob Irving, who heads both the Budapest office and the firm’s CEE private equity practice, advised Euromedic International in its €800m sale to the Merrill Lynch private equity fund, and also on the acquisition of a diagnostics business. Clients also include the Hungarian Telephone and Cable Corp and the sellers of JefFinance International.

Project finance

Within Project finance, White & Case LLP is a second tier firm,

Réczicza White & Case LLP’s Károly Fóti led advice to the consortium of Bouygues, Strabag and Colas bidding for the third phase of the M6 and also advised the lenders to AKA Koncessziós Autópálya on the M5 restructuring. To an existing strength in infrastructure projects, the firm added new energy and real estate expertise by taking on Gergely Horváth and his three-strong team from Lakatos, Köves and Partners. His team has handled a number of real estate projects for CIB Bank.

Real estate

Within Real estate, White & Case LLP is a second tier firm,

Réczicza White & Case LLP’s Mónika Frank, who has a ‘professional attitude and up-to-date knowledge’ heads an ‘outstanding’ practice that was present on some of the major deals in the CEE region. She and Levente Illes continue to act for Klépierre; the French supermarket giant is developing a commercial complex on land previously bought through a tender acquisition. The two also acted for Plaza Centers on the €400m sale of Arena Plaza, Hungary’s largest shopping centre. Clients also include Mota Hungária-Tétényi.

TMT

Within TMT, White & Case LLP is a first tier firm,

Réczicza White & Case LLP stands out for its expert telecoms practice that advises clients at the highest level on regulation and also takes on notable M&A instructions. But it also advises IT companies including EADS and Google. István Réczicza and experienced associate Balázs Fazekas continue to advise the National Communications Authority (NHH) on matters including proposed European telecoms regulation and 3G licences. Rob Irving continues to advise the Hungarian Telephone and Cable Corp; one notable recent instruction was on its acquisition of Austrian Memorex Telex Communications for €90.5m, a deal that included regulatory due diligence in 14 European countries.

Tax

Within Tax, White & Case LLP is a first tier firm,

Réczicza White & Case LLP hired well-respected Orsolya Bárdosi from Gide Loyrette Nouel – Ferenczy to head a three-strong team. The new team won a mandate at a competitive tendering to advise GdF Suez goup on post merger integration work. Clients also include WestLB, Pfizer and the WWF.

What we say worldwide

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US

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Legal Developments in Hungary

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

  • EC TRADE MARK LAW IN THE LIFE SCIENCES INDUSTRY AS EXEMPLIFIED BY THE CASE BAYERN INNOVATIV V OHIM

    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.
    - Szecskay Attorneys at Law

  • HUNGARIAN DATA PROTECTION LAWS

    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.
    - Szecskay Attorneys at Law

  • THE "UNDERGROUND PARKING LOT CASE IN SOPRON"

    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.
    - Szecskay Attorneys at Law

  • Changes regarding the Standard Sectoral Classification of Economic Activities

    The Act XCVI of 2008 (hereinafter the: “Act”) on the amendment of Act V of 2006 on the Public Company Information, Company Registration and Winding-up Proceedings and on the modification of other statutes in respect to the publication of the annual report and the Sectoral Classification of Economic Activities entered into force on December 27, 2008.
    - Sándor Szegedi Szent-Ivány Komáromi Eversheds

  • On the amendment of the acts affecting the labour relations

    The main purpose of the amendment of several pieces of legislation affecting the arranged labour relations is to make the regulation simpler, and to make it more transparent and easier to apply. Most of the newly introduced provisions entered into force on 1 June 2009.
    - Sándor Szegedi Szent-Ivány Komáromi Eversheds

  • Regarding the deposition and publication of Annual Reports

    New provisions shall apply for the Annual Reports to be submitted after 1 May 2009. The new provisions are prescribed by Act XCVI of 2008 on the modification of the Company Registration Act on the deposition and publication of the Annual Reports submitted in compliance with the Accounting Act. The relevant provisions of Act XCII of 2003 on the Rules of Taxation were modified simultaneously. The purpose of the modifications is on the one hand that the submitted annual reports shall become public as soon as possible, on the other hand that a more effective control mechanism and sanctioning shall apply for the companies, which fail to submit their annual report.
    - Sándor Szegedi Szent-Ivány Komáromi Eversheds

  • Regarding the recent amendment of the Competition Act

    On March 23, 2009, the Hungarian Parliament passed the bill amending Act No. 57 of 1996 on the Prohibition of Unfair Trading Practices and Unfair Competition (hereinafter: “Competition Act”). The amendment entered into force on June 1, 2009, and affects the following areas:
    - Sándor Szegedi Szent-Ivány Komáromi Eversheds

  • Environment Law 2009: Hungary

    A practical insight to cross-border Environment Law
    - Oppenheim

  • Product Liability 2009: Hungary

    A practical insight to cross-border Product Liability work
    - Oppenheim

  • RECENT CHANGES TO EMPLOYMENT LEGISLATION

    RECENT CHANGES TO EMPLOYMENT LEGISLATIONIN HUNGARYby Prague / Bratislava / Budapest www.prkpartners.com Legislative changes concerning the Hungarian Labour Code and the rules pertaining to the protection of workers’ safety and health Effective as of January 1, 2009 significant legislative measures were adopted by the Hungarian Parliament concerning several labour-related issues. Specifically, the new Act, bearing the number LXI. of 2008, amended various provisions of Act XXII. of 1992 on the Hungarian Labour Code and the rules pertaining to the protection of workers’ safety and health governed by Act No. XCIII of 1993. The amendments serve two main purposes. By refining the implementation of the relevant EC Directives the amendments seek to introduce more flexible and market friendly provisions regarding annual leave, work on national holidays and also enhances the provisions relating to workers’ safety.
    - Bellák & Partners Law Office
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