Firms To Watch: Banking, finance and capital markets

Benefitting from its integration within the firm’s global network, KPMG Legal Tóásó Law Firm is steadily emerging as a key player across the banking, finance and capital markets spaces. Gergő Szalai-Bordás and Anna Hollós lead.

Banking, finance and capital markets in Hungary

Allen & Overy

Allen & Overy is regularly instructed by leading Hungarian banks and international financial institutions to handle large, complex cross-border transactions. The firm also caters to multinational corporations in the food and beverage, renewable energy, oil and gas, real estate and manufacturing sectors. Károly Fóti leads the banking and finance department with a focus on corporate finance, real estate and project finance. Norbert Hete’s capital markets outfit specialises in straight debt, covered bond, regulatory capital, equity capital and derivatives. Miklos Kadar focuses on leveraged finance, private and public bid finance, margin lending and corporate lending. András Bajzik and Zsuzsanna Gordos are noted for their work at the associate level.

Practice head(s):

Károly Fóti; Norbert Hete; Miklos Kadar

Other key lawyers:

András Bajzik; Zsuzsanna Gordos


‘Quick, timely responses. Professionalism. Client focused. Deep knowledge of the industry.’

Key clients

Nestlé Hungária Kft.

Advokatfirmaet BA-HR (indirectly various lenders, notably Nordea Bank)

OTP Bank Plc. Special Employees Share Scheme

Raiffeisen Bank Zrt.

China National Machinery Import and Export

MOL Hungarian Oil & Gas Plc.

Masterplast Zrt.

M7 Real Estate Poland sp. z o.o.

MVM Energetika Zrt.

Samsung SDI Magyarország Gyártó és Értékesítő Zrt.

MOL Plc. Special Employees Share Scheme

Work highlights

  • Advised Nestlé Hungary on its inaugural growth bond issue.
  • Advised China National Machinery Import and Export on project financing provided by the Bank of China for the development, maintenance and operation of a 100MW solar power plant in Kaposvár, Hungary.
  • Assisted MVM, the Hungarian incumbent electricity service provider, with its Regulation S standalone eurobond issuance.

Andrékó Ferenczi Kinstellar

Advising both global and state-owned banks, Andrékó Ferenczi Kinstellar fields a large and dedicated team, specialising in foreign equities, bonds, restructuring, IPOs, SPOs, and regulatory compliance issues. The firm is also regularly mandated by key players from the energy, manufacturing, real estate, technology and fintech sectors to advise on complex, cross-border transactions. Csilla Andrékó heads the department, specialising in infrastructure, real estate, restructuring and insolvency and syndicated lending, as well as project financing in the energy and renewable energy spaces. Levente HegedüsDalma ÖrdöghMáté Nagy, and Zsuzsa Andrékó are also highly recommended for their work at the associate level.

Practice head(s):

Csilla Andrékó

Other key lawyers:

Levente Hegedűs; Dalma Ördögh; Máté Nagy; Zsuzsa Andrékó


‘Excellent legal skills and up-to date knowledge of the latest legal issues.’

‘They are very client focused and always on top of their cases.’

‘Csilla Andrékó and Levente Hegedűs are outstanding.’

Key clients

MFB Magyar Fejlesztési Bank Zrt.

Volta Energy Solutions Hungary Kft.

Citigroup, J.P. Morgan, Société Générale

European Investment Bank

Ravago S.A.

Bank of China Limited Hungarian Branch

Kereskedelmi & Hitelbank (K&H)

Work highlights

  • Advised Volta Energy Solutions Hungary on a $200m financing for the development of a copper foil factory in Hungary, financed by Raiffeisen Bank and other international financial institutions.
  • Advised Citigroup, J.P. Morgan and Société Générale on the establishment of the Regulation S, €5bn Euro Medium Term Note Programme of OTP Bank, including Tier 2, senior preferred and senior non-preferred notes tranches, and a subsequent draw-down of green senior preferred notes issue.


With a client roster comprising many leading domestic and international banks, CMS’ cross-border experience is an asset to clients with both transactional and regulatory banking mandates. The team is also well placed to cater to the growing fintech market, advising start-ups, investors, and traditional institutions operating in the space. Erika Papp leads the finance department with expertise in corporate finance, capital markets and derivatives, investments and regulatory compliance. Papp also heads up the growing private equity and venture capital practice. Sándor Kovács regularly acts for blue-chip Hungarian, European and US financial institutions, while senior consulant Árpád Lantos has contributed to some of the largest transactions in the space. Senior counsel Eszter Török brings 20 years' banking and finance experience to the firm. Dorottya Varga-Giesz, Kitti Tulner, Máté Szekeres are highly recommended at the associate level.

Practice head(s):

Erika Papp

Other key lawyers:

Sándor Kovács; Árpád Lantos; Eszter Török; Dorottya Varga-Giesz; Kitti Tulner; Máté Szekeres


‘Due to their wide range of industry experts, CMS offers outstanding legal services and provides industry-specific legal advice. Their availability throughout a project and their ability to meet tight deadlines (maintaining their excellent quality of work) are expectional in the industry, based on my experience.’

‘During our common projects, all of the members of the CMS teams have provided professional, outstanding legal service, even in case of tight deadlines. They were constatly available throughout the project, even on short notice.’

‘CMS has professional knowledge in a wide range of capital markets topics.’

Key clients

Corvinus Zrt.

Balbec Asset Management

CIB Bank Ltd. (Intesa Sanpaolo subsidiary)

Erste Bank Hungary Plc. and Erste Bank AG

K&H Bank Ltd.

UniCredit Bank Hungary Ltd. and UniCredit Bank AG

OTP Bank Plc.

UniCredit Bank Hungary Zrt.


Raiffeisen Bank Ltd.

Work highlights

  • Advised Corvinus on the acquisition of Aegon Magyarország Általános Biztosító, Aegon Asset Management and Union VIG Biztosító through a 45% participation in holding companies.
  • Advised Union Investment on the acquisition and financing of Szervita Square, a mixed-use property.
  • Advised Commerzbank on the sale of a Hungarian entity.


Fielding one of the largest cohorts of internationally-qualified lawyers in Hungary, Dentons offers clients key cross-border capabilities across the full spectrum of banking and finance mandates. The team has expertise in syndicated loans, bridge and bond financings and tender offer financings, as well as regulatory compliance, restructuring and insolvency matters. The firm is also well placed to advise clients in two key areas of growth in the domestic market – namely, renewable energy and fintech. Gábor Király brings considerable experience of cross-border work across Eastern Europe to the group. Gabriella Pataki and Bence Böszörményi are both highly recommended at the associate level.

Other key lawyers:

Gábor Király; Gabriella Pataki; Bence Böszörményi

Key clients

UniCredit Bank

Vienna Insurance Company (VIG)

CIB Bank

Erste Bank

European Bank for Reconstruction and Development

EXIM Hungary

K&H Bank

Raiffeisen Bank

Work highlights

  • Advised UniCredit Bank on the financing and development of two 48MV solar power plants in Szolnok, Hungary, with a total deal value of $80m and financing of $60m.
  • Advised Raiffeisen Bank on a 5-year, $200m syndicated green loan to Volta Energy Solutions Hungary.
  • Advised Vienna Insurance Group on the sale of 45% of the Hungarian Aegon Group and Union Insurance Company to the Hungarian state-owned Corvinus Nemzetközi Befektetési.

DLA Piper Posztl, Nemescsói, Györfi-Tóth and Partners Law Firm

Advising key domestic and multinational financial institutions, DLA Piper Posztl, Nemescsói, Györfi-Tóth and Partners Law Firm offers its clients a full spectrum of transactional and advisory services in the banking, finance and capital markets spaces. The firm is especially active in sovereign export credit facilities, bond and restructuring deals, corporate finance work, and more recently, debt capital markets. Péter Györfi-Tóth advises local and international clients on cross-border financings and restructurings. Gábor Borbély focuses on portfolio sales, restructuring, and consensual exit transactions, as well as insolvency proceedings in various sectors, in particular, real estate, energy and manufacturing. András Nemescsói and Gábor Molnár lead the capital markets division, focusing on both ECM and DCM transactions. Attila Sári, Miklós Horváth, Barbara Császár, András Orbán and Jenő Kimmel are all key senior contacts, while Márk Seres and Balázs Szalbot are recommended at the associate level.

Practice head(s):

Péter Györfi-Tóth; Gábor Borbély; András Nemescsói; Gábor Molnár

Other key lawyers:

Attila Sári; Miklós Horváth; Barbara Császár; András Orbán; Jenő Kimmel; Márk Seres; Balázs Szalbot


‘DLA Piper Hungary are cooperative and reliable.’

‘We have been working with Gábor Borbély’s team for many years now. They have a good understanding on how we do business and manage the priorities of the transaction well. Their general drafting quality is also very good and it makes our work processes rather efficient.’

‘Intelligent, competent, and flexible.’

‘Cooperation with DLA’s staff was smooth every time, their proactive and supportive attitude helped the work to a great extent. Their professional knowledge is impeccable.’

‘It was comforting to know that we could always count on them for everything, they were willing to work with maximum patience. They met all deadlines exactly, delivered comprehensive expert opinions, and were always partners in constructive thinking together.’

‘The team of DLA Piper is highly qualified, their competence in banking law is unique. They can easily handle large amounts of work. Highly recommend them.’

‘Gábor Borbély has outstanding knowledge and expertise, he understands commercial aspects quickly and he is very solution oriented.’

‘Highly professional team, deep knowledge, always on time.’

Key clients

Eximbank Zrt. (Hungarian Eximbank)

ERSTE Bank Hungary Zrt.

MVM Zrt. (MVM Hungarian Electricity Ltd)

UniCredit Bank Hungary Zrt.

Deutsche Pfandbriefbank AG

Raiffeisen Bank Zrt.

MFB Zrt.

OTP Bank Nyrt.


HB Reavis

Budapest Bank Zrt., MKB Bank Nyrt., and Takarékbank Zrt. and Magyar Bankholding Zrt.

OXO Technologies Ltd.

Graphisoft Park SE

Delta Technologies Plc

Indotek Financing Ltd.

BDPST Equity Zrt.

Work highlights

  • Advised Erste Bank Hungary on the financing of the development of Phase 2 of the BPONE office centre developed by Futureal.
  • Assisted Delta Technologies, a listed company in the IT sector, with the rectification of a derailed capital increase by a capital reduction and a subsequent capital increase, as well as preparing prospectuses for its shares to be admitted to trading on the Budapest Stock Exchange.
  • Advised Magyar Bankholding and the owners of three banking groups on the merger of the three groups, including the associated mandatory takeover bids, stock exchange listings and regulatory matters.

Lakatos, Köves and Partners

Lakatos, Köves and Partners is a highly regarded for its ability to handle complex, cross-border transactional and advisory work. The firm is especially experienced in sovereign bond issuances, financial regulation, infrastructure project financing, securitisation transactions, and asset-backed capital markets transactions in the aviation space. Szabolcs Mestyán and UK-qualified John Fenemore jointly lead the team. Counsel Pál Rahóty focuses on financial regulation, while Gabriella Szabó is impressive in her handling of energy and infrastructure projects with a public financing aspect. Péter Köves, Gergely Kántor and Botond Horváth are also key contacts. At the associate level, Balázs Rokob is noted.

Practice head(s):

Szabolcs Mestyán; John Fenemore

Other key lawyers:

Pál Rahóty; Gabriella Szabó; Gergely Kántor; Botond Horváth; Balázs Rokob


‘Very sophisticated team with detailed knowledge of LMA standards and relevant practice.’

‘Szabolcs Mestyán is the most reliable and experienced finance lawyer I know.’

Key clients

ING Bank N.V.

Deutsche Bank

Erste Group

Goldman Sachs

JP Morgan

OTP Bank

UniCredit Bank

Hungarian Development Bank

BNP Paribas

STX Group

Mid Europa

Bayerische Landesbank


Rothschild Bank

Work highlights

  • Instructed as Hungarian legal advisers to the joint lead managers  – BNP Paribas, Goldman Sachs Bank Europe SE, ING Bank, JP Morgan, and Deutsche Bank – on the €2bn bond issue by the Hungarian state.

Siegler Bird & Bird Ügyvédi Iroda

Noted for its ‘exceptional commercial knowledge’, Siegler Bird & Bird Ügyvédi Iroda is a respected player with a focus on project finance, structured finance and syndicated loans, and regulatory compliance. Csongor Tompa joined from CMS in August 2022 to lead the banking and finance department, bringing over 13 years’ experience in the field. Of counsel Konrád Siegler specialises in banking, finance and capital markets transactions, with a focus on bankruptcy and restructuring, as well as project financing in the energy sector. Gábor Zoltán Szabó specialises in privatisations, public offerings, public takeovers, licensing procedures, derivative transactions, and insider trading issues. Tamás Simon is noted for his work on acquisition and project financing, refinancing and debt restructuring, while György Boros is recommended for his cross-border work on fintech and insolvency matters.

Practice head(s):

Csongor Tompa; Konrád Siegler

Other key lawyers:

Gábor Zoltán Szabó; Tamás Simon; György Boros


‘Always available and extremely supportive’

‘Good understanding of client needs. Valuable knowledge. Reliable and flexible availability.’

‘Exceptional personal and professional integrity, exceptional reliability, exceptional commercial knowledge, inspiring and thought-provoking discussions, synergy.’

‘Full-spectrum and highest level professional knowledge. Hands-on, flexible attitude, great availability.’

‘Ability to think out of the box and come up with ideas, strong understanding of the client’s needs.’

‘Excellent professional knowledge and experience. Excellent negotiation and support skills, a high degree of embeddedness in the profession. Up-to-date knowledge. Proactive case management.’

Key clients

OTP Bank

Magyar Aerojet Zrt.

K&H Bank Zrt.

Eximbank (Hungarian Export Import Bank)

Deutsche Bank AG

Revetas Capital

Erste Bank Hungary


Telenor / Yettel

ING Bank



Flextronics International Kft.

Work highlights

  • Advised Yettel Hungary on a €‎200m club loan financing.
  • Advised Magyar Aerojet on a €‎150m refinancing.
  • Advised Flextronics International on its €‎230m bond issuance.

Gárdos Mosonyi Tomori Law Office

Gárdos Mosonyi Tomori Law Office offers a diverse client base assistance with transactional and advisory mandates, particularly in relation to loan restructuring, fintech, and payment services, while also focusing on securitisation transactions in the capital markets sector. Founding partner and capital markets expert Erika Tomori acts as one half of the department’s leadership duo, with a focus on capital markets disputes, domestic bond issuances, syndicated finance transactions and regulatory compliance in the banking sector. Tomori’s counterpart is seasoned litigator and regulatory expert Péter Gárdos. Securities specialist Dániel Szabó advises a wide range of investmentors on their operations and licensing needs. Beatrix Berkes is noted for her investments and capital markets work, while Veronika Bakonyi is recommended for her transactional experience. In January 2022, Zita Tihanyi joined from an in-house position at Raiffeisen Bank.

Practice head(s):

Erika Tomori; Péter Gárdos

Other key lawyers:

Dániel Szabó; Beatrix Berkes; Veronika Bakonyi; Zita Tihanyi


‘GMT’s team is always a pleasure to work with.’

‘Dániel Szabó is always available and able to answer our legal questions with his exceptional knowledge and experience.’

‘Beatrix Berkes is very up to date and she is always ready conduct deep research in order to provide the most suitable advice.’

Key clients

International Capital Markets Association


CIB Bank Zrt.

Royal Bank of Canada Investor Services Trust

Hold Asset Management

NAP Nyrt.

SPB Investment Ltd.


Sano Solum Zrt., Sano Agrár Kft. and Sano Modern Takarmányozás Kft. (Sano Group)

Raiffeisen Bank Hungary Zrt.

National Deposit Insurance Fund|Hungarian National Bank

Work highlights

  • Advised the National Deposit Insurance Fund on the $207m issuance of bonds.
  • Advised NAP on the registration of its shares to the BÉT Xtend multilateral trading platform.
  • Advised SPB Investment on the registration of the shares of a target company to the BÉT Xtend multilateral trading platform.

Hegymegi-Barakonyi and Fehérváry Baker&McKenzie Attorneys-at-Law

Representing an diverse swathe of domestic and international banks, Hegymegi-Barakonyi and Fehérváry Baker&McKenzie Attorneys-at-Law’s brings its international connections to bear on the Hungarian market, managing high-value, cross-border transactions in the banking finance and capital markets space. Focusing on syndicated lending, real estate and acquisition finance, the firm is also noted for its advisory work with domestic and foreign investment funds. József Vági leads the department with a focus on real estate finance and corporate finance transactions. Junior associates Robert Tran and Andrea Weinraub are also key members of the team.

Practice head(s):

József Vági

Other key lawyers:

Robert Tran; Andrea Weinraub


‘The team is highly flexible, open to all ideas and feedback is very fast which is a real added value.’

‘József Vági is one of the best legal colleagues delivering fast and valuable feedback. Handles the client in a soft way although with high persuasive capacities. Highly proactive.’

‘The team is extremely professional, the legal knowledge and service is perfect. Since we are using their services mainly in English, the perfect documentation is an important advantage of the team.’

Key clients

Global Green Europe Kft.

Fortaco Group Oy

Work highlights

  • Advised Global Green Europe on the renewal of an investment loan agreement between the client and Raiffeisen Bank.


Instructed by a balanced roster of banks, financial institutions and corporate borrowers, Jalsovszky handles a wide range of cross-border transactional work, with key strengths in Europe and Asia. The firm’s core practice is based in real estate finance, acquisition finance, corporate finance, and general banking transactions. The team has recently expanded its capabilities in the renewable energy sector, handling structuring and project financing matters in that space. Gábor Pázsitka leads the banking and finance department, with managing partner Pál Jalsovszky taking the reins of the recently introduced capital markets practice.

Practice head(s):

Gábor Pázsitka; Pál Jalsovszky

Key clients


Erste Bank

K&H Bank

KDB Bank

MFB (Hungarian Development Bank)

OTP Bank

Raiffeisen Bank

Takarékbank (Hungarian Savings Bank)

UniCredit Bank

ABO Wind






Work highlights

  • Advised a syndicate consisting of KDB Bank, MFB and Takarékbank, as lenders, on the latest restructuring and amendment to the syndicated facility provided to the Hungarian member firm of Celltrion, a large international biopharmaceutical company.
  • Advised Raiffeisen Bank, as lender, on the financing of a Hungarian company engaged in the medical industry.
  • Advised K&H Bank, as lender, on restructuring and amendments to the finance documentation of Finsolar and Eogen, two solar energy holding companies,  necessitated by the opt-out of the borrowers’ companies from KÁT, a subsidized energy tariff system.

Kapolyi Law Firm

Kapolyi Law Firm is regularly instructed by some of Hungary’s largest domestic funds, and is especially well placed to cater to the growing financial and capital mandates of the booming real estate sector. The firm is particularly valued for its longstanding working relationship with the Budapest Stock Exchange. Managing partner József Kapolyi focuses on real estate investment funds and finance-related dispute resolution. Balázs Ferenczy specialises in project finance and LMA-based loan agreements, as well as business operations and regulatory compliance. Viktor Krezinger leads the capital markets division, which caters to a wide range of investment fund managers and investment service providers, handling private placements, IPOs, and securities.

Practice head(s):

József Kapolyi; Balázs Ferenczy; Viktor Krezinger


‘Very responsive and timely legal service. Professional knowledge and analysis.’

‘József Kapolyi and Balázs Ferenczy provide excellence.’

Key clients


JS Hamilton Hungária Kft.

Indotek Alapkezelő Zrt.

Financial House Ltd.

Wingholding Ltd.


Interactive Brokers Central Europe Ltd.

Equilor Investment Manager Zrt.

Gladiátor Investment Manager Zrt

Auto Wallis Nyrt.

eSense Zrt.


Work highlights

  • Advised Auto Wallis Plc., a leading car dealership company in Hungary, as issuer on a public secondary purchase offer.
  • Advised Wingholding Ltd. the largest real estate developer in Hungary on the public, corporate bond IPO program for €100m.
  • Advised JS Hamilton Hungary Kft., member of the Hamilton Group, in the Hungarian law aspects of joining to a Facility Agreement, provided by a consortium of Lenders (Bank Polska Kasa Opieki S.A., Santander Bank Polska S.A., UniCredit S.p.A.) as Additional Obligor and Additional Guarantor to the Facility.


Noerr advises a roster of premium banks and corporations, as well as notable investors and borrowers. The firm’s workload is balanced between cross-border transactions and high-value, sophisticated local deals. The team is especially adept at handling real estate finance, project finance, acquisition finance, capital markets, and regulatory mandates, as well as matters concerning insolvency and derivatives. The team’s German language capabilities make it a go-to for German corporates. Edina Schweizer leads the department, and is noted for her ‘exceptional business acumen’. Barbara Herczegfalvi is noted for her work in real estate finance and acquisition finance.

Practice head(s):

Edina Schweizer

Other key lawyers:

Barbara Herczegfalvi


‘Very sophisticated practitioner Edina Schweizer competes successfully with much larger and established firms of this practice area.’

‘Edina Schweizer stands out for her exceptional business acumen, technical expertise and responsiveness.’

Key clients

UniCredit Bank Hungary Zrt.

Bayerische Landesbank (BLB)

UniCredit AG

Manz AG

ICON plc

Hungarian Development Bank (MFB)


Deufol SE

K&H Bank (KBC Group)

Work highlights

  • Advised Bayerische Landesbank, as agent, on the restructuring and security release of a €135m financing to the Gala Group.
  • Advised UniCredit on the €250m financing to the Starcar Group.
  • Advised Panattoni Group, as borrower, on the financing of the acquisition of a construction plot in Herceghalom.

Partos & Noblet in co-operation with Hogan Lovells International LLP

Benefitting from its connections to the firm's international network, Partos & Noblet in co-operation with Hogan Lovells International LLP is active across the full spectrum of banking, finance and capital markets matters. The firm has a keen focus on the growing fintech and e-commerce spaces, alongside their core competencies handling infrastructure and regulatory matters. Sándor Békési leads the department, with support from associate Gábor Kószó, who focuses on secured and unsecured lending, bilateral and syndicated loans, senior and mezzanine loans, subordinated debt and inter-creditor issues.

Practice head(s):

Sándor Békési

Other key lawyers:

Gábor Kószó

Key clients



Magyar Cetelem Zrt.

BNP Paribas Personal Finance

BNP Paribas Securities Services

Revetas Capital


CES Energy Solutions Corp

Boris & Partner Kft

Vajda Papír

Work highlights

  • Advised FSCP on its acquisition of a preferred stock in Barion, an e-money issuer.
  • Advised Oriens on two acquisition finance matters.
  • Advising Argentem Creek Partners on its potential acquisition of certain bonds issued by Sand Hill Petroleum.

Schoenherr Hetényi Ügyvédi Iroda

Leveraging its strong presence across the CEE region, Schoenherr Hetényi Ügyvédi Iroda offers clients expertise in acquisition and project financing, corporate finance, syndicated loans, debt restructurings, refinancing and financial regulatory advice. The team has notable experience relating to solar power plants and is adept at handling non-performing loan and bridge financing. Gergely Szalóki leads the department with 20 years’ experience in the sector, advising on all aspects of banking, finance and capital markets work, with a keen focus on market entry and restructuring. Associate Virág Palguta is noted for her work in bond issuances and transaction documentation.

Practice head(s):

Mark Kovacs

Other key lawyers:

Virág Palguta; Gergely Szalóki


‘Provided great assistance whilst meeting tight deadlines.’

‘We found the team to be extremely knowledgeable, commercial and responsive. They managed the Hungarian aspects of the transaction seamlessly, providing timely drafting and advice and overseeing the completion process with flair and ease.’

‘Gergely Szalóki was extremely responsive and professional. He is obviously very knowledgeable with a clear view on market practice. He managed the team acting on the transaction to ensure a seamless process, particularly in relation to the completion protocols which required a great to deal of organisation. He was excellent at giving easy-to-understand advice to our English lender, who was not familiar with the jurisdiction.’

‘High-level educated lawyers with great experience of corporate and finance deals.’

‘Very responsive, clear and straightforward in communication.’

‘Our excellent cooperation with Schoenherr is based on three important pillars: broad knowledge of capital markets, including previous deals and major players, highly professional legal contribution to our capital markets operations, and continuous availability any time with immediate and exact answers to our questions or matters to be solved or managed.’

Key clients

Wolters Kluwer Hungary Kft.

S. Spitz GmbH

OMV Downstream GmbH

HARIBO Holding GmbH & Co. KG

Aiwa Corporation

Henri Bratter

Globalization Partners Hungary Kft

Szecskay Attorneys at Law

Katalin Szecskay leads the banking and finance department at Szecskay Attorneys at Law with expertise in project finance, real estate finance, acquisition finance and corporate finance. Judit Budai heads up the borrower-focused capital markets team, which handles stock exchange introduction, public takeover rules and delisting mandates. János Vajda is noted for his banking-focused dispute resolution work, while Bence Molnár brings a valued corporate perspective to capital markets work. Judit Szórádi is recommended for her work with German-speaking markets. Gergely Benyó brings key regulatory experience from his time working at the Hungarian National Bank.

Practice head(s):

Katalin Szecskay; Judit Budai

Other key lawyers:

János Vajda; Bence Molnár; Judit Szórádi; Gergely Benyó


‘Very hands-on and practical with a strong business sense.’

‘Katalin Szecskay was excellent in our transaction. She has a strong understanding of the technical issues, but more importantly she was a good team player with a strong commercial sense.’

Key clients

Bank of China

Bank of Communications Co. Ltd, Frankfurt Branch

Landesbank Baden-Württemberg

Maxima pojišťovna, a.s.

ANY Biztonsági Nyomda Nyrt

TA Associates / NETRISK group

Work highlights

  • Advised Bank of China (Europe) on the Hungarian law aspects of a cross-border €165m property acquisition refinancing granted to a leading global private equity and infrastructure investment group.
  • Advised the Netrisk Group on the Hungarian law aspects of a cross-border acquisition financing granted to it for the acquisition of Austria’s
  • Advised Maxima pojišťovna, a Czech based insurer, on the cross-border provision of group insurance contracts for telecoms devices to be provided to a large Hungarian telecoms operator and its customers.

Wolf Theiss Faludi Ügyvédi Iroda

WOLF THEISS FALUDI ÜGYVÉDI IRODA advises many of the largest domestic and international banks, insurance companies and investment funds on their commercial lending, project financing, private equity and regulatory work. The firm focuses on cross-border work in the CEE region. The firm is also well placed to serve clients in the growing renewable energy sector. Melinda Pelikán leads the department with 15 years’ finance experience, particularly with project finance in the infrastructure and real estate space. Associates Viktória Horváth and László Lovas are also key members of the team.

Practice head(s):

Melinda Pelikán

Other key lawyers:

Viktória Horváth; László Lovas


‘The team is flexible and reliable. They can solve complex issues and deliver complex transactions on time.’

‘Melinda Pelikán solves all the issues which are needed to successfully close a transaction.’

Key clients

Vienna Insurance Group

UniCredit Bank Austria AG

Erste Group Bank AG

Raiffeisenlandesbank Oberösterreich AG

Oberbank AG

UniCredit Bank Hungary

TA Associates

CIB Bank

Kommunalkredit Austria AG

Arconic Group

Raiffeisen Bank Hungary

Work highlights

  • Advised Vienna Insurance Group on its €830m acquisition of Aegon’s insurance and asset management business in Hungary, Poland, Romania and Turkey.
  • Advised UniCredit Bank Austria, Erste Group Bank, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft and Oberbank on the refinancing of existing syndicated and bilateral loan agreements of the Salesianer group.
  • Advising Raiffeisen Bank International in several countries – namely Bosnia and Herzegovina, Bulgaria, Croatia and Hungary – on the establishment of its respective medium term note program for the issue of ordinary senior notes, ordinary senior eligible notes and non-preferred senior eligible notes.

CERHA HEMPEL Dezso & Partners

With a strong history advising German-speaking clients on real estate project finance transactions, CERHA HEMPEL Dezso & Partners has increasingly expanded its offering to cover restructuring and refinancing, insolvency, and debt recovery, as well as capital markets and M&A transactions. Edina Nagy primarily brings in-depth experience advising the debtors of financial institutions. Attila Marjai has significant banking-related litigation expertise. Andrea Presser is noted for her work on leasing and regulatory matters.

Practice head(s):

Edina Nagy; Andrea Presse; Attila Marjai


‘Edina Nagy is very efficient and well trained with perfect German language skills.’

‘Very supportive and responsive.’

Key clients

Speech Graphics

Erste Group Bank AG

Omnibus Hungária Kft. (member of Daimler Group)

Osmotica Pharmaceuticals

Raiffeisenlandesbank Oberösterreich AG

Tungsram Operations

Ober Lízing Kft.

Infogroup Zrt.

Dione S.p.A.

Lux GmbH

Work highlights

  • Advising Tungsram Operations on a continuous basis on its financing arrangements, including matters such as credit facility agreements, factoring and reverse factoring agreements, cash pooling, treasury and derivatives arrangements.
  • Advised Erste Group Bank on several real estate project finance transactions.

Deloitte Legal Göndöcz and Partners Law Firm

Integrated within the firm’s international advisory network, Deloitte Legal Göndöcz and Partners Law Firm is seen as a trusted advisor by institutional investors, commercial banks and the National Bank of Hungary, and is recognised for its high level of capital markets expertise. Linda Al Sallami leads the department with key capabilities in cross-border restructuring, renewable energy projects, acquisitions and real estate financing. Managing partner Péter Göndöcz regularly advises private equity, venture capital and multinational corporates on their strategic investments and transactional matters.

Practice head(s):

Linda Al Sallami

Other key lawyers:

Péter Göndöcz


‘Deloitte’s legal team was always on hand and they showed great professionalism.’

Key clients

Adventum Group

European Bank for Reconstruction and Development (EBRD)

National Bank of Hungary (NBH)

Heliosys Group

Euronics (VÖRÖSKŐ Kereskedelmi és Szolgáltató Korlátolt Felelősségű Társaság)

AGRÁR Mezőgazdasági Termelő Szolgáltató és Kereskedelmi Korlátolt Felelősségü Társaság




Trevelin Holding Zártkörűen Működő Részvénytársaság

Work highlights

  • Advised Adventum Group on the syndicated financing of the acquisition of a real estate portfolio consisting of 18 shopping malls located in Hungary and the Czech Republic.
  • Assisting the EBRD and the National Bank of Hungary with an initiative concerning the design of recommendations for a sustainable capital markets strategy.
  • Advised K&H Bank on long-term non-recourse project financing provided to 19 project companies held by the Heliosys Group for the development of photovoltaic power plant projects in Hungary.

Erdos • Partners

Erdos • Partners was established in June 2020, and is particularly adept at handling real estate project financing and banking regulation matters. Luca Bokor and Gábor Erdős jointly oversee the offering; the former counts numerous banks, real estate developers and renewable energy companies among his clients, while the latter leads on capital markets work and handles a wide range of matters from bond issuances to private placements and IPOs. Associates Mátyás Környei and Szilárd Németh are also noted.

Practice head(s):

Luca Bokor; Gábor Erdős

Other key lawyers:

Mátyás Környei; Szilárd Németh


‘Gábor Erdős and Mátyás Környei form a strong team. Gábor knows and understand our business, has a wide recognition in the market, is a skilled negotiator and understands how to move things forward. Mátyás is very reliable and hard working.’

‘Fast moving, client friendly team.’

‘Great and excellent, professional and enthusiastic.’

Key clients

Greencells Group

Redside Group

CIB Bank Zrt.

K&H Bank Zrt.

Erste Bank Hungary Zrt.

Cordia Group

Futureal Development Holding Kft.

HELL ENERGY Hungary Kft.

Eprolius Ingatlan Nyrt.

Envien Magyarország Kft.

Global Refuse Holding Zrt.

Work highlights

  • Assisted Eprolius Ingatlan with the registration of $16m worth of shares for trading on the Budapest Stock Exchange.
  • Advised Greencells Group on the financing of the design and construction of a €46m photovoltaic plant with 48 MWp capacity.
  • Assisted CIB Bank with the €15m refinancing of a hotel based in Sárvár, Hungary.

Forgó, Damjanovic & Partners Law Firm

Forgó, Damjanovic & Partners Law Firm has a strong track record assisting lenders and borrowers alike, with notable names from both sides of the table comprising the client roster. The firm regularly undertakes mandates with significant cross-border elements. Ferenc Lénárt heads up the practice.

Practice head(s):

Ferenc Lénárt

Key clients


Obton A/S

the Benetton family


JP Morgan Asset Management

Unipetrol Group

UTB Group

the owners of Partner Ltd.

VÖB-Service GmbH

Work highlights

  • Represented Vinzenz von Paul Kliniken against the recipient of an unlawful payment at OTP Bank Nyrt.
  • Assisting Obton with the acquisition of a number of solar park portfolios.
  • Assisting VÖB-Service with the preparation of a legal opinion letter for the purposes of confirming certain legal statements regarding the safekeeping of securities under the laws of Hungary.

HP Legal | Hajdu & Partners

Advising large Hungarian commercial banks, domestic and international corporates, as well as the Hungarian state, boutique firm HP Legal | Hajdu & Partners is well placed to handle a diverse body of banking and finance work. Managing partner Laszlo Hajdu specialises in syndicated and bilateral lending, secured lending, corporate finance, trade finance, project finance and acquisition finance. Réka Versics has extensive experience in acquisition finance, corporate finance and real estate finance.

Practice head(s):

Laszlo Hajdu; Réka Versics


‘Their number one priority is their clients’ interest. Their work is fast and precise at the same time.’

‘Laszlo Hajdu’s expertise is exceptional. He has no weaknesses.’

‘Réka Versics is a reasonable but tough negotiator who understands business fully and considers her clients’ interests as her top priority.’

Key clients


Property Market Development Ltd

CIB Bank (subsidiary of Intesa San Paolo)

Market Asset Management Ltd

JP Morgan

Goldman Sachs


BNP Paribas

K&H Bank (Hungarian subsidiary of KBC)

OTP Bank Plc

Unicredit Bank

Raiffeisen Bank

Hungarian EXIMBANK

Hungarian Development Bank




KESZ Holding

International Investment Bank

Futureal Real Estate Development Fund

Cordia Real Estate Development Fund

Infogroup Real Estate Development Holding

Work highlights

  • Advised International Investment Bank on the refinancing of a project finance credit facility and additional CAPEX financing of approximately €38m provided to a Hungarian agricultural company.
  • Advised OTP Bank, as lender, on a project finance credit facility of approximately €15m for the financing of a solar power plant project.
  • Advised Market Asset Management, as owner, and its affiliates, as borrowers, on the financing of the development of an office building and hotel with an approximate value of €68m.

Nagy és Trócsányi Ügyvédi Iroda

With a keen cross-border focus, Nagy és Trócsányi Ügyvédi Iroda specialises in real estate finance, project financing, credit facility and collateral agreements, and corporate restructuring. György Kiszely leads the department with experience in project finance, the establishment of financial institutions, and complex transactional work. Balázs Karsai’s strengths lie in banking litigation, cross-border payment mechanisms, and payment card services. Zsuzsanna Lukács, Mónika Vrancsik and Zóra Lehoczki are noted at the associate level.

Practice head(s):

György Kiszely

Other key lawyers:

Balázs Karsai; Zsuzsanna Lukács; Mónika Vrancsik; Zóra Lehoczki

Key clients

Arendt Regulatory & Consulting SA

OTP Bank

Oppenheim Ugyvedi Iroda

Catering to a roster of domestic and international financial institutions and private corporations, Oppenheim Ugyvedi Iroda offers a well balanced transactional and advisory practice across the banking and finance space, and is currently engaged in several complex litigation mandates for large domestic banks. Practice head Péter Horvai-Hillenbrand brings two decades’ experience advising banks and borrowers in bilateral, pool and syndicated financing transactions to the team, and is also an expert in renewable energy financing. Gergely Szécsényi is noted for his work at the associate level.

Practice head(s):

Peter Horvai-Hillenbrand

Other key lawyers:

Gergely Szécsényi

Key clients

CIB Bank


PPF Banka

J&T Banka

Joyson Safety Systems

Taghleef Group

Forestay Group

UniCredit Bank

JRD Energo


BNP Paribas (Poland)

WKW Group

VUB Bank

Electron Holding

Work highlights

  • Advised CIB Bank on several renewable financing transactions.
  • Advising PPF Banka on several real estate financing and refinancing transactions.

Szabó Kelemen & Partners Andersen Attorneys

Szabó Kelemen & Partners Andersen Attorneys leverages its longstanding tax expertise to provide wide-ranging support to banks and financial institutions. The firm’s strengths lie in project finance, syndicated lending and cross-border financing. Péter Vincze leads the department with a focus on restructuring and capital markets transactions. Tamás Kárpáthegyi's practice covers syndicated lending, refinancing, securities and regulatory compliance. Zoltán Módos is also a key name at the firm.

Practice head(s):

Péter Vincze

Other key lawyers:

Tamás Kárpáthegyi; Zoltán Módos


‘Personal touch. Close contact. Responsiveness.’

‘Tamás Kárpáthegyi has a hands-on approach and is a true business partner. On time. Dedicated. Valued expert.’

‘Business minded, solution-oriented team with huge experience.’

‘Péter Vincze is a highly skilled lawyer.’

Key clients

Hungarian subsidiary of CTP

Takarékbank Zrt.

MTB Zrt.

Indotek Group

Raiffeisen Bank Zrt.

Takarék Jelzálogbank Nyrt.

Solar Markt Kft.

Vámosi-Nagy Ernst & Young Law Office

Benefitting from its connection to the firm’s global advisory network, Vámosi-Nagy Ernst & Young Law Office offers a traditional banking and finance practice as well as turn-key solutions across a wide range of capital markets matters. The team is particularly well placed to advise clients in the growing fintech space. Iván Sefer leads the department with cross-border transactional expertise in project finance, corporate finance and acquisition finance. Walid Frőlich, Péter Csonga and Evelin Tóth-Szőke are recommended at the associate level.

Practice head(s):

Iván Sefer

Other key lawyers:

Walid Frőlich; Péter Csonga; Evelin Tóth-Szőke


‘Due to their expertise, they are able to find the right specialist for almost every task.’

‘In our co-operation the team has been proven to be very efficient and proactive.’

Key clients

Kometa 99 Élelmiszeripari Zrt.

SkyGreen Buildings Kft.

Euro structor d.o.o.

Granit Bank Zártkörűen Működő Részvénytársaság

Kavosz Pénzügyi Szolgáltatásokat Közvetítő Zártkörűen Működő Részvénytársaság

Hunland-Trade Kft.

4iG Nyrt.

Alfa Equity Holding Kft.

Caola Zrt.

Tuxera Hungary Kft.

Optimum Solar Zártkörűen Működő Részvénytársaság

GTC Magyarország Ingatlanfejlesztő Zrt

Quartz Befektetési Alapkezelő Zártkörűen Működő Részvénytársaság

GTC Magyarország Ingatlanfejlesztő Zrt

Work highlights

  • Advised GTC on a number of financing transactions as borrower’s counsel.
  • Advised Optimum Solar on standstill and rating remedy arrangements with its bondholders.
  • Advised Caola on its $20m bond issuance under the NKP programme of the Hungarian National Bank.