The Legal 500

Horváth & Partners DLA Piper

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

Banking and finance

Within Banking and finance, DLA Piper LLP is a second tier firm,

Péter Györfi-Tóth’s team at Horváth & Partners DLA Piper has a history of acting for major Hungarian lenders on project and leveraged finance matters, but recent work includes representing a borrower in a substantial refinancing. Other recent mandates include assisting a syndicate of banks (including Deutsche Pfandbriefbank) on the €300m refinancing of a CEE real estate portfolio. In an attempt to meet growing demand on the banking practice, the firm recruited Gábor Borbély from Morley Allen & Overy Iroda.

Capital markets

Within Capital markets, DLA Piper LLP is a first tier firm,

Horváth & Partners DLA Piper’s Gábor Molnár, András Nemescsói and the ‘excellent’ András Posztl played a fundamental role in assisting CIG Pannonia Insurance with its IPO on the Budapest Stock Exchange. The 14-strong team also acted as sole adviser to the Hungarian government on the €1.88bn private purchase of a 21.2% shareholding in MOL.

Employment

Within Employment, DLA Piper LLP is a second tier firm,

Horváth & Partners DLA Piper handles labour and employment issues pertaining to M&A and restructuring programmes. The ‘exceptional’ Helga Fehér leads this ‘client-oriented’ group, which advised Prinzhorn Holding on a review of its employee incentives scheme.

Energy

Within Energy, DLA Piper LLP is a second tier firm,

Horváth & Partners DLA Piper senior associate Gábor Simon played a key role in advising the Hungarian government on its €1.8bn acquisition of a 21.2 % stake in MOL. Managing partner András Posztl recently advised a public sector client on energy trading regulations.

Intellectual property

Within Intellectual property , DLA Piper LLP is a third tier firm,

Horváth & Partners DLA Piper’s nine-strong group provides ‘fast and efficient’ service and ‘tailor-made advice’ to film and television production companies on copyright issues. Additionally, it advises IT, energy and life sciences clients on data protection matters. Practice head Mónika Horváth ‘delegates work effectively to very capable colleagues, yet remains involved across all the issues’.

Mergers and acquisitions

Within Mergers and acquisitions, DLA Piper LLP is a first tier firm,

Horváth & Partners DLA Piper advised a major energy group on the sale of its stake in a Budapest-listed company, but has been more active on capital markets and financing transactions than corporate work of late. The ‘very commercial’ Gábor Molnár oversees the group, which has ten lawyers after the recruitment of senior associate Lívia Németh from Morley Allen & Overy Iroda in late 2010.

Project finance

Within Project finance, DLA Piper LLP is a first tier firm,

Horváth & Partners DLA Piper’s eight-strong group represents private and public bodies, and lead partner Péter Györfi-Tóth is advising the Ministry of National Development on restructuring and on a large number of sports and culture PPPs. KIKSZ is another key client.

Real estate and construction

Within Real estate and construction, DLA Piper LLP is a second tier firm,

Horváth & Partners DLA Piper appointed of counsel Róbert Kotsis as the new head of the real estate group, which has seen an influx of new instructions and continues to advise Stena Realty both on general issues and in disputes relating to a listed office building in Budapest. Generali Immobilien and Rockspring Property Investment Managers are also clients.

TMT

Within TMT, DLA Piper LLP is a first tier firm,

Horváth & Partners DLA Piper is well versed in film and television, and acts for clients such as ITV and the Hungarian Media Counsel. Practice head Mónika Horváth ‘delegates work effectively to very capable colleagues’, but remains involved in all issues. The group recently advised GK Films on a movie production and acted for Averna Technologies Inc on regulatory matters. Senior associate Zoltán Kozma gives ‘clear, considered advice’.

Tax

Within Tax, DLA Piper LLP is a second tier firm,

Horváth & Partners DLA Piper’s ‘punctual and thorough’ team advises clients on matters including crisis tax, professional contribution, and transactional tax structuring. Clients include Vienna Capital Partners, IKO Group and Fibria Trading International. Levente Torma has ‘a good knowledge of international tax rules and regulations’.


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Legal Developments by:
DLA Piper LLP

  • Sentencing guidelines for corporate manslaughter

    In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences that are a significant cause of death should be at least £100,000. Crucially, the SGC declined to provide for a fixed link between the imposed fine and the turnover or profitability of the offending company.

    - DLA Piper UK LLP

Legal Developments in Hungary

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • 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.
  • Newsletter: Your Legal Key to Hungary

    Changes in the court and authority delivery.
  • 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.
  • 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.
  • 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.
  • Environment Law 2009: Hungary

    A practical insight to cross-border Environment Law