Lakatos, Köves and Partners > Budapest, Hungary > Firm Profile

Lakatos, Köves and Partners
MADÁCH IMRE ÚT 14
1075 BUDAPEST
Hungary

Hungary > Legal market overview

Hungary > Banking, finance and capital markets Tier 1

Clients praise Lakatos, Köves and Partners for its ‘tremendous broad knowledge, which goes far beyond their practice area and is beyond market standards.’ Its two main partners, Szabolcs Mestyán and John Fenemore have over 30 years of experience handling the most complex and innovative financial and capital markets products, often cross-border in nature, as a result of Fenemore’s English law experience and links with top London firms. He regularly assists international clients with trade finance, asset finance and real estate finance transactions, margin loans and restructuring mandates. Mestyán’s ‘skills and knowledge are unparalleled in the market‘, according to a client. He advises on all cross-border financing, banking and capital markets regulations, securitisation, and is distinguished for his capabilities in aviation finance. Péter Köves and associate Balázs Rokob are also recommended.

Practice head(s):

Szabolcs Mestyán; John Fenemore

Other key lawyers:

Péter Köves; Balázs Rokob

Testimonials

‘The team has a tremendous broad knowledge which goes far beyond their practice area and is beyond market standards. This allows them to understand complex situations in a very quick manner so that they react perfectly even to the most urgent fire drills.’

‘The banking, finance and capital markets team at LKT offers a top-quality service and excellent legal advice. I’m impressed by their strong reactivity and continuous commitment. The whole team provides valuable and strong support, both in legal and regulatory matters and their advice always consider business and operational peculiarities of our entity.’

‘We have worked with Szabolcs Mestyán – who is knowledgeable, open and comes up with various solutions to problems.’

‘Dr. Szabolcs Mestyán – Great combination of analytical thinking and understanding of business needs of the client. Very reliable with great expertise.’

‘Szabolcs Mestyán’s skills and knowledge are unparalleled in the market.’

‘John Fenemore and Szabolcs Mestyán are leading the banking and finance team at LKT. They both are providing invaluable professional support across all legal and regulatory areas. They are very practical, effective and responsive. Way ahead in approach compared to many competitors.’

‘John Fenemore was very good at both managing the workload and adequately staffing the work to ensure that we received prompt and commercially appropriate advice. He was very accommodating to changing deadlines and scope and proposing solutions that were practical and useful.’

‘Excellent team with distinguished experts for capital markets transactions. Flexible and solution-oriented approach with very good knowledge of regulatory and market practice.’

Key clients

Indotek Zrt.

Hungarian Development Bank (“MFB”)

Waberers International

WizzAir

Deutsche Bank

SMBC Aviation Capital

Erste Bank

ING Bank

Work highlights

  • Advised the Managers in connection with the €1.5bn 1.75 per cent green notes issued by Hungary and listed on the London Stock Exchange. This was the first issuance by Hungary of Green bonds.
  • Advising Wizz Air in connection with the operation of a state owned wide-body cargo aircraft. The Hungarian State purchased a cargo aircraft in Autumn 2020 to enhance its emergency response capacity. Recognizing Wizz Air’s expertise in operating commercial aircraft (unique in Hungary), the Hungarian Government requested Wizz Air’s assistance in maintaining, staffing and operating this new aircraft on its behalf.
  • Advised Eksportkreditt Norge and the Norwegian Export Credit Guarantee Agency (GIEK) in providing an export credit guaranteed €348.5 million sovereign loan facility to finance the acquisition by the Hungarian military of the NASAMS air defense missile system from Norway’s Kongsberg. Export Finance Norway particularly appreciated our experience on sovereign lending and regulatory issues.

Hungary > Commercial, corporate and M&A Tier 1

Lakatos, Köves and Partners has a strong track record undertaking corporate and M&A work in the energy, financial services, telecoms and FMCG sectors. In addition, it is notably active in areas such as healthcare and automotive, among others. The firm often acts for foreign entities and private equity houses on the acquisition and disposal of assets in Hungary, as well as corporate restructurings of existing branches in Hungary. Richard LockIván Sólyom and Ádám Máttyus are the co-heads of the practice. Counsel Pál Rahóty regularly acts on behalf of insurance and financial services clients. Viktória Szilágyi bolstered the practice's offering in the real estate, renewable energy and healthcare arenas, following her arrival in late 2020 from Nagy és Trócsányi Ügyvédi Iroda.

Practice head(s):

Richard Lock; Ádám Máttyus; Iván Sólyom

Other key lawyers:

Testimonials

‘Lakatos, Köves & Partners – the firm has been responsive, professional and proactive.’

‘A wonderful firm, with great professionals. They are innovative with solutions for clients.’

‘Richard Lock’s experience and expertise is second to none. Pal Rahoty is knowledgeable and great with clients.’

Key clients

Mid Europa Partners

LGI Denmark Aps (BHJ Group)

Innobyte and its subsidiary Innoware Kft.

Green Power Investment s.r.o.

Skylake Investment Fund

CAD Studio s.r.o.,

Fitesa (Hungary)

Sinbon

STX Group

Work highlights

  • Advised Mid Europe Partners as shareholder and the company, Waberers in relation to MEP’s exit from the company. The deal was complicated by the listed status of Waberers and the regulated status of its insurance subsidiary.
  • Advised STX, a Dutch environmental commodities trader on the acquisition of Hungarian company, Vertis Environmental from its founding shareholders.
  • Advised Korean private equity fund, Skylake in relation to its acquisition Hungarian assets of Doosan Solus. The transaction reflects the increasing focus by Korean investors in Hungary, in particular in relation to automotive technology.

Hungary > Competition Tier 1

Clients note that Lakatos, Köves and Partners‘ team has ‘a professional and practical approach with many years worth of experience’. The practice has taken steps to diversify and expand its portfolio of international clients by adding multilingual specialists (working across several departments) with Russian, Chinese, Japanese and Spanish language abilities, to complement its existing English, French, Italian and German-speaking capabilities. The full-service practice handles high-end mandates across the whole range of competition law issues, with a notable specialisation in the financial services, technology and telecoms, life science and construction sectors. Eszter Ritter and Iván Sólyom co-head the group, whose expertise includes merger control, unfair competition practices and competition litigation. Ádám Máttyus is another key figure for competition law in relation to M&A. Senior associate Adrienn Mándoki is recommended for merger filings.

Practice head(s):

Eszter Ritter; Iván Sólyom

Other key lawyers:

Adam Mattyus; Adrienn Mándoki

Testimonials

‘Lakatos, Köves & Partners has a professional and practical approach with long years of experience. They work collaboratively and offer a good service to the clients.’

‘Dr. Iván Sólyom, Partner: Perfect at providing clear advice, flexible and practical-minded.’

Key clients

Facebook Ireland

VODAFONE

Smithfield Group Ltd.

Mastercard Europe SA

Mattoni Group

Spectrum Brands

Indotek

COLAS S.A.

GE Hungary

Work highlights

  • Successfully represented Facebook Ireland before the courts of Hungary on appeal against the Hungarian Competition Authority (HCA) in an unfair commercial practices matter, resulting that the HCA’s infringement decision was fully annulled.
  • Advising COLAS S.A.’s Hungarian subsidiaries in private enforcement civil litigations launched by the Hungarian State and the Municipality of Budapest respectively relating to the cartel activities of these subsidiaries with respect various roadwork constructions in Hungary. The Supreme Court  rejected the high claim of the Hungarian State of approx. €10m in relation to the project in which the client was involved.
  • Representing the Smithfield Group in merger control proceedings before the HCA in their acquisition of MECOM Group, the largest processed meat producer in Slovakia and the second largest processed meat producer in Hungary.

Hungary > Dispute resolution Tier 1

Lakatos, Köves and Partners‘ national practice is distinguished for its diverse commercial litigation and arbitration expertise, with notable strength in investment treaty arbitration, corporate and shareholder disputes, banking, pharmaceutical and follow-on private damages litigation. Founding partner Péter Lakatos and Péter Köves are leading figures in the Hungarian market. Balázs Fazakas leads the disputes practice, specialising in commercial arbitration, but also handling a significant amount of top-level litigation work. Associate Adrienn Mándoki is also a central figure in the team.

Practice head(s):

Balázs Fazakas; Péter Lakatos; Péter Köves

Other key lawyers:

Key clients

Facebook Ireland

TVOT (National Organization of School Book Distributors)

LG

MARS

Colas

JSC ASE EC

Budawest

Mid Europa/Waberer’s

Indotek

Work highlights

  • Represented Facebook in its long-time dispute with the Hungarian Competition Authority challenging an imposed fine. Successfully acted for Facebook in which the court fully annulled the authority’s decision, establishing that the statement was not misleading price information.
  • Represented TVOT, the industry body of school book distributors, in challenging legislation which effectively creates a state owned monopoly for the distribution of school books and kills the business of the current independent school book distributors. Our work on this includes a challenge of the law before the Constitutional Court, seeking either overturning of the law or damages. Since the Constitutional Court had initially rejected our challenge, we subsequently sought remedies at the ECHR. In 2019 the decision of the ECHR establishing that the Hungarian State violated our client’s right under Article 1 of Protocol 1 of the Convention and therefore our clients are entitled to receive a financial compensation became final.
  • Successfully represented LG in competition litigation before the Hungarian Competition Office, against Artisjus, for alleged abuse of its dominant position (imposition of excessive levy fees).

Hungary > Projects and energy Tier 1

Lakatos, Köves and Partners is a prominent name for large motorway concession projects, logistics, automotive sector and industrial property developments and nuclear and renewable energy developments. The practice has seen an increase in demand for its services in social infrastructure, particularly in relation to private healthcare and private education, where the team has a longstanding relationship advising the American International School of Budapest on its property development projects. Also notable is that it is currently working with Stonehill/IC Campus on the development of a new university campus. Its multidisciplinary team comprises of corporate and energy partner Ádám Máttyus, real estate development expert Attila Ungár, founding partner Péter Köves (an expert in financing and PPP) and counsel Viktória Szilágyi.

Practice head(s):

Péter Köves; Ádám Máttyus

Testimonials

‘Very international and high standard.’

‘Viktória Szilágyi is a highly skilled professional’

‘Ádám Máttyus is always helpful. We have been working with his team for a few years and they have always delivered.’

Key clients

ROSATOM / JSC ASE EC

Soulbrain

Toyo Ink

Z-Group

Green Power Investment s.r.o.

KS ORKA

GLP

Mannvit

Skylake Investment

Arctic Green Energy

Work highlights

  • Advising ROSATOM / JSC ASE EC (and its branch in Hungary), main Russian Contractor in NPP project Paks II, in the implementation of its NPP Paks II project, including but not limited to Hungarian civil and atomic energy laws, licensing issues, employment law, nuclear regulations, contract law, application of special provisions in international government agreement, Project Act and EPC-contract.
  • Advising GLP on major legal aspects of the multi-phased construction of a logistics centre in Szigetszentmiklós (a distribution centre / warehouse building and all ancillary infrastructure and functions (including administrative, social, technical areas), including drafting and negotiation of the related EPC agreement and payment trustee agreement.
  • Advising long-standing client Mattoni in relation to the establishment of a joint venture for the development of the new bottling plant South of Budapest.

Hungary > Real estate and construction Tier 1

Lakatos, Köves and Partners continues to be a dominant name in development projects, real estate project financing, acquisitions and disposals, and portfolio management, often on behalf of foreign investors. The firm also reports strong activity in the logistics, automotive and manufacturing sectors, and increased instructions by Asia-based clients, aided by its ability to deploy Japanese and Mandarin Chinese speaking lawyers within its wider team. Attila Ungár is the lead partner for property and land sales, acquisitions and lease agreements. Senior associates Júlia Várkonyi, Zsuzsanna Ilyés and Ágnes Hegyi are other names to note, as is Tamás Balogh. Tamás Oláh joined Dentons.

Practice head(s):

Attila Ungár

Testimonials

‘Extremely client-focused. Pragmatic approach. A good sense of the business behind the legal and with that a very thorough and fair advice.’

‘Agnes Hegyi is a powerhouse. Fully available, and very quick to understand the issues and what is being requested. She constantly reinvented a deal to provide for tailor-made solutions.

‘Attila Ungar, spearheading the team is also a very confidence-inspiring lawyer. Quick, witty and with extreme knowledge of the laws and of the market, he truly makes the client feel confident.’

‘They value our concern and protect our interests all the time and helped us to smoothly close the transaction.’

Key clients

Indotek

Fidelidade – Companhia de Seguros, S.A.

VGP

Vodafone

Soulbrain

Toyo Ink

CTP

GLP Partners

Dorkan Property Kft.

O-I Orosházi Üveggyár

Peridot Financing Solution LLC

Work highlights

  • Represented Vodafone-UPC in connection with the lease of its new headquarters, a 14 140 m2 lease in Budapest ONE Office Park.
  • Advising Hungarian investor Indotek Group on the proposed acquisition of Globe Trade Centre’s Belgrade office portfolio (GTC’s Serbia portfolio). The agreement covers the sale of 11 buildings within 5 business parks, located in the New Belgrade district.
  • Advising GLP on the multi-phased construction of a logistics centre in Szigetszentmiklós (a distribution/warehouse building and all ancillary infrastructure), including drafting and negotiation of the related EPC agreement and payment trustee agreement and lease agreements concerning an approximately 40,000 sqm area of warehouse space and 1,080 sqm office space.

Hungary > TMT Tier 1

Lakatos, Köves and Partners maintains a consistent presence in M&A involving the radio, printed and online media, TV and cable sectors. The firm also has a well-established regulatory, data protection and licensing practice, advising household names such as Vodafone and LG. Practice head Iván Sólyom is an all-round TMT expert, assisting with major commercial transactions, e-commerce, data protection, litigation and regulatory mandates relating to new market entries. Managing partner Péter Lakatos is sought after by major telecoms and automotive sector clients.

Practice head(s):

Péter Lakatos; Iván Sólyom

Testimonials

‘Lakatos, Köves & Partners displayed real expertise in the gaming and entertainment industry.’

Key clients

Vodafone

Norbit ASA

Magyar Telekom

Soulbrain

Voxbone

Szentkirályi és Kékkúti Ásványvíz

Mars/Royal Canine

Gunnebo

LG

Work highlights

  • Advising Vodafone on day-to-day telecommunication law matters and corporate advice, including the 5G tender.
  • Advised Norbit ASA on its acquisition of iData Kft. working together with leading Norwegian law firm Schjodt as lead counsel. iData is a technology company headquartered in Hungary, specialising in services related to vehicle tracking and fleet management.

Hungary > Data privacy and data protection Tier 2

Operating within its corporate department, Lakatos, Köves and Partners' data protection practice has historically focused on the financial services, telecoms and energy sectors. More recently, however, the practice has also seen a steady flow of work involving an interface between IT, data protection and regulations in the automotive sector, specifically, a growth in instructions from leading manufacturers such as Volkswagen, as well as electric battery manufacturers and suppliers. Iván Sólyom leads the practice, which also includes employment lawyer Éva Bognár, who has a significant focus on data protection, data privacy, GDPR and social media. A key contact for Asia-based clients is associate Péter Szaniszlai, who is a speaker of Japanese and Mandarin Chinese, and is recommended for IP and data protection work.

Practice head(s):

Iván Sólyom

Other key lawyers:

Key clients

Vodafone

Three Bond

American International School of Budapest

Mastercard

Mars

Indotek

IQVIA (previously IMS Health)

Work highlights

  • Advised Vodafone on the acquisition of Liberty Global’s operations in Hungary as part of a global deal and regarding all types of data protection matters.
  • Advising the MARS Group on all aspects of data privacy in relation to their production unit in Hungary (one of the largest in the CEE), as well as their commercial units in Hungary, including MARS Multisales and Royal Canine.
  • Advising Mastercard on all aspects of data privacy issues relating to their Hungarian marketing programs. The firm has been advising Mastercard in relation to their benefit program on card transactions and participated in negotiations with leading banks on the specific applications of the program.

Hungary > Employment Tier 2

Lakatos, Köves and Partners regularly receives employment-related referrals from international law firms, in addition to winning work in its own right. The varied workload covers matters such as the preparation of employment agreements and policies, TUPE work, data protection, employee relations, restructuring and disputes. Éva Bognár is the main partner for all labour mandates.

Practice head(s):

Éva Bognár

Key clients

Mattoni 1873 a.s.

Trimble Inc.

Toyo Ink

Flowserve

VGP Parks

MARS Multisales and Manufacturing entities

Arval (BNP Paribas Group)

ThreeBond

American International School of Budapest (AISB)

European Climate Foundation

Work highlights

  • Advising Mattoni Group’s Hungarian subsidiaries, including Szentkirályi Ásványvíz Zrt. on all legal aspects of its drink bottling and distribution business. The firm assisted the client with top management restructuring, negotiation of termination agreements and immigration process of the new top executive.
  • Assisted Trimble Inc in implementation of various restructurings and advising the client on COVID-related issues including wage support subsidies and analysing the service provider network, employment contracts and restructuring projects.
  • Advising TOYO INK on all HR related questions related to their operations.

Hungary > Intellectual property Tier 2

Lakatos, Köves and Partners provides ‘top-quality service’ to clients on matters concerning trade marks, copyright, domains, designs and patents. Utilising its corporate and commercial expertise, the group regularly advises on licensing and technology transfer agreements, data protection and IP due diligence of cross-border transactions. On the contentious side, its represents Hungarian and multinational clients in infringement and enforcement proceedings. Iván Sólyom is also recommended, as is senior associate Péter Szaniszlai.

Practice head(s):

Iván Sólyom

Other key lawyers:

Testimonials

‘LKT is a professionally highly committed full-service law firm. Their one-stop-shop system offers comfort and top-quality service, flawless technical support and outstanding reactivity. The team provides valuable and personalised support throughout our projects. We are extremely pleased and would highly recommend them.’

‘Iván Sólyom grasped all the relevant issues without difficulty and he was able to quickly gain our trust. We would 100% recommend him to others.’

Key clients

Vodafone

Mid-Europa and Waberer’s International Nyrt.

Indotek

LG

Philip Morris international (PMI)

Nomad Foods Ltd.

Foundation for the Protection of the Traditional Cheese of Cyprus named Halloumi

Mars

Work highlights

  • Advised Vodafone on the acquisition of Liberty Global’s operations in Hungary as part of a global deal. Reviewed all program provision agreements concluded by Liberty Global’s Hungarian subsidiary.
  • Advising LG electronics, which has manufacturing operations in Hungary, on private copy levies.
  • Acted for the Foundation for the Protection of the Traditional Cheese of Cyprus, Halloumi, in trade mark enforcement and infringement.

Hungary > Tax Tier 2

Lakatos, Köves and Partners provides ‘top-quality service with flawless technical support and advice’. It acts for a wide range of international clients operating in Hungary, historically in the energy, financial services, automotive and telecoms sectors. The team advises on the tax aspects of M&A and finance transactions, international tax planning and VAT matters. Practice head Balázs Kántor has ‘good technical and analytical skills’ and is the lead lawyer on all corporate tax and structuring mandates.

Practice head(s):

Balázs Kántor

Testimonials

‘The tax team at LKT offers a top-quality service, flawless technical support and advice, strong reactivity and continuous commitment. Balázs Kántor and his team provides valuable and personalised support throughout our projects.’ 

‘I work with Balázs Kántor on tax matters. Balázs provides outstanding work and very strong commitment. He’s very thorough, has good technical and analytical skills but does not lose sight of the pragmatic side. The advice he provides is spot-on and makes sense from a business perspective.’

‘Reliable team, meet deadlines and expectations of the client.’

Key clients

Soulbrain

Trimble

Deutsche Bank Hungary

Indotek

Citigroup Global Markets Limited

ING Bank N.V.

J.P. Morgan Securities plc

Aeroflot

European Climate Foundation

Toyo Ink

Fidelidade

Work highlights

  • Advised the South Korean firm, Soulbrain (located in the Tatabánya Industrial Park) on the tax aspects of the acquisition of a development site from the state-owned National Industrial Park Management and Development Company and on all other legal aspects of its Hungarian operation.
  • Acted as Hungarian legal tax advisers to Citigroup Global Markets Ltd on the instructions of the Joint Lead Managers in connection with the issue by Hungary of (i) €1m in aggregate principal amount of 1.125 per cent Notes due 2026 and (ii) €1m in aggregate principal amount of 1.625 per cent. Notes due 2032 in April 2020.
  • Advised Indotek on the acquisition of various properties (mainly shopping malls) in Budapest including structuring, tax advice and financing. The firm also advised Indotek on the acquisition and management of distressed asset portfolios with a focus on non-performing corporate loans in Hungary and the Balkans.

Firm overview: Lakatos, Köves and Partners (LKT) is an independent internationally focused full service commercial law firm based in Budapest. It has a predominantly international client base, offering cutting-edge know-how and matching innovative legal solutions to business needs. The firm has been independent since 2009 having been Clifford Chance’s office in Budapest from 1993 to 2009. LKT’s market standing is reflected in top tier rankings in many areas including banking and finance, capital markets, corporate/M&A, competition, dispute resolution, real estate, and TMT. The firm works with leading law firms from around the world, in relation to their Hungarian activities and issues. LKT is a member of the Budapest Bar Association, International Bar Association, Multilaw, Interlaw, INSOL and the Loan Market Association.

Practice areas: Aviation, banking and finance, capital markets, competition/antitrust, consumer protection, corporate/M&A, dispute resolution, employment, energy, GDPR/IP, life sciences, real estate, tax advisory, telecommunication/media/technology

Main areas of practice
M&A: The firm advises on the full range of M&A transactions, representing foreign investors both in relation to Hungary specific transactions and also regional or global transactions, on which the firm assists in relation to the Hungarian aspects of such deals.

Corporate/regulatory/compliance: The firm advises many corporates, in particular the subsidiaries of international companies on the issues facing them in their operations in Hungary, ranging from general corporate establishment and maintenance through their compliance with all local regulatory requirements (eg sectoral regulation, investigations, competition law). Notably active sectors in the firm’s practice are automotive, energy, life sciences and TMT/IT/technology.
Contact: Richard Lock Tel: +36 20 921 5035
Email: richard.lock@lakatoskoves.hu
Contact: Iván Sólyom Tel: +36 20 344 8089
Email: ivan.solyom@lakatoskoves.hu

Banking and finance and capital markets: The firm’s banking and finance practice includes asset financing, structured financing, real estate project, corporate and aviation financing, both on the lender and the borrower side, banking regulation, M&A in the banking sector, banking products, NPL, restructuring, insolvency and banking litigation. Capital market mandates include securitizations, share and bond issuance (including sovereign bonds), complex equity and debt securities offerings, dual-listings, IPOs, derivatives, structured products, structured finance and asset management issues, as well as regulatory matters (Brexit, Prospectus Directive, MiFID, EMIR, etc.)
Contact: Szabolcs Mestyán Tel: +36 20 938 0395
Email: szabolcs.mestyan@lakatoskoves.hu 
Contact:
John Fenemore Tel: +36 20 921 5034
Email: john.fenemore@lakatoskoves.hu

Competition/antitrust: The firm has longstanding expertise on all types of matters in this area, including merger filings, competition/anti-trust issues, cartel proceedings, abuse of dominant position and representation during investigations by the Hungarian Competition Office and court litigation procedures. LKT’s consumer Law practice is outstanding, including dealing with Unfair Commercial Practices (UCP).
Contact: Iván Sólyom Tel: +36 20 344 8089
Email: ivan.solyom@lakatoskoves.hu
Contact:
Eszter Ritter Tel: +36 20 228 2552
Email: eszter.ritter@lakatoskoves.hu

Aviation: LKT has an aviation group, which is unique in Hungary and market leader in the CEE region. LKT acts on aircraft finance, JOLCO transactions, securitisation of aircraft lease receivables, aviation regulatory, financial and operating leases, sale and leaseback transactions, pooling of engines, security interests, insurance and reinsurance liability, litigation and dispute resolution with strong trial capability, repossession of aircraft and tax issues.
Contact: Szabolcs Mestyán Tel: +36 20 938 0395
Email: szabolcs.mestyan@lakatoskoves.hu

Real estate: LKT is a leading real estate firm in Hungary operating with the biggest team including several senior lawyers. The firm advises on the entire spectrum of real estate matters, including acquisition and structuring, construction and development, asset and property management with a special expertise on logistic properties and project development.
Contact: Attila Ungár Tel: +36 20 9725 878
Email: attila.ungar@lakatoskoves.hu

Dispute resolution: LKT successfully represents clients in international arbitration proceedings before the ECHR, ECJ, and ICSID and in litigation proceedings at ordinary courts.
Contact: Balázs Fazakas Tel: +36 20 482 4133
Email: balazs.fazakas@lakatoskoves.hu

Employment: LKT advises clients in relation to employment and executive contracts, pension schemes, employee benefit programs, employment disputes, employment aspects of M&A transactions, works council and trade union relations. We have extensive experience in managing mass redundancy schemes, staff-restructuring and extraordinary dismissals.
Contact: Éva Bognár Tel: +36 1 429 1300
Email: eva.bognar@lakatoskoves.hu

Energy: LKT’s energy practice includes involvement in the full range of energy sources from nuclear through conventional power to renewables, with broad experience in regulatory issues, project development, financing and M&A. In the renewables field, the activities are mainly in solar and thermal projects.
Contact: Ádám Máttyus Tel: +36 20 461 5095
Email: adam.mattyus@lakatoskoves.hu
Contact: Viktória Szilágyi Tel: +36 30 417 7989
Email: viktoria.szilagyi@lakatoskoves.hu

IP/GDPR: Advising in brand protection, trade mark filings, renewals and due diligence, IP litigation and disputes, Tech related matters, GDPR and data protection, including full GDPR audits.
Contact: Iván Sólyom Tel: +36 20 344 8089
Email: ivan.solyom@lakatoskoves.hu

Tax advisory: LKT fully integrates tax advice into its legal work. The tax practice head is a certified tax advisor and a qualified lawyer. LKT’s tax team advises on the full range of tax issues connected to the clients’ businesses, in particular in corporate, real estate and employment matters.
Contact: Balázs Kántor Tel: +36 20 929 4549
Email: balazs.kantor@lakatoskoves.hu

Telecommunication/media/technology: LKT works on ground-breaking transactions in the telecommunications, media and technology sectors in Hungary with a broad base of expertise in regulatory aspects of market liberalization and consolidation, including M&A transactions and frequency tenders. LKT advises on all aspects of telecommunication law, internet and e-commerce (i.e. data protection, M&A, corporate, competition and regulatory).
Contact: Péter Lakatos Tel: +36 20 952 8799
Email: peter.lakatos@lakatoskoves.hu
Contact: Iván Sólyom Tel: +36 20 344 8089
Email: ivan.solyom@lakatoskoves.hu

Managing partner: Dr Péter Lakatos LL.M.
Number of partners: 9
Number of lawyers: 50, including tax advisors
Languages: English, German, French, Italian, Japanese, Chinese, Russian, Hungarian, Romanian, Serbian, Spanish

DepartmentNameEmailTelephone
M&A, Corporate/Regulatory/Compliance Richard Lockrichard.lock@lakatoskoves.hu+3614291300
Business Development Andrea Spisákandrea.spisak@lakatoskoves.hu+3614291300
English
Hungarian
Russian
Romanian
Spanish
Japanese
Chinese
French
German
Serbian

COMPANY/FIRM: Lakatos, Köves & Partners (“LKT”) M&A, TMT and Competition Group (Iván Sólyom)
TESTIMONIAL: “Thank you for all of your hard work – your dedication and responsiveness was very much appreciated during a process which certainly had its challenges” and “cannot tell you how grateful we are for your enormous effort in helping the company reach this point. We put great demands on your team and you responded amazingly”.


COMPANY/FIRM: LKT Competition Group (Eszter Ritter)
TESTIMONIAL: “Yes well done team! Very good news… Thanks for all the hard work on this!”
“Thanks again for having managed this proceeding so well!”


COMPANY/FIRM: LKT Employment Group (Éva Bognár)
TESTIMONIAL: „Eva has been invaluable in assisting us with any and all labor relations challenges that have (or will) face our Budapest facility.”


COMPANY/FIRM: LKT Employment Group (Éva Bognár)
TESTIMONIAL: “We have always appreciated your quick and reliable advice.”


COMPANY/FIRM: LKT M&A and Capital Markets (Péter Lakatos, Pál Rahóty)
TESTIMONIAL: “Thanks again for all your help and support throughout, which has been fantastic. Hope to work with you again on something soon.”


COMPANY/FIRM: LKT
TESTIMONIAL: “Want to thank you for the good cooperation, and your responsiveness and prudent advice.”


COMPANY/FIRM: LKT banking team (Szabolcs Mestyán, Pál Rahóty)
TESTIMONIAL: “Many thanks for making this happen and for the sacrifices made over the last year or so.”


COMPANY/FIRM: LKT (Pál Rahóty)
TESTIMONIAL: “Your assistance in this challenging and complex process has been much appreciated. Quite an intense ride!”


COMPANY/FIRM: LKT (Richard Lock, Pál Rahóty)
TESTIMONIAL: “Words can’t express my gratitude for your effort.”

Péter Lakatos LL.M., Managing Partner

Dr. Péter Lakatos LL.M., Managing Partner of Hungarian leading law firm, Lakatos Köves and Partners (LKT) gives an impression how the firm is combining business solution with an innovative approach and local market knowledge with global expertise adapting to clients’ changing needs.

What do you see as the main points that differentiate LKT from your competitors?

We believe that we occupy a small niche between the international network firms and local firms, and combine the best of each of those groups. Most of us trained in the international firms and work principally for international client and yet we have the flexibility and independence of a local firm and have been established in the local market for as long as anyone.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

We have been expanding for several years and see that continuing, not necessarily specific to particular practice areas. However we anticipate increased demand in a number of areas, for example, in our M&A team with a particular focus on certain sectors e.g. energy, telecoms and healthcare. In finance we anticipate the fallout from the financial distress caused by the pandemic. The amount of work handled by our litigation practice continues to grow. Tax, labour law and consumer protection are also growth areas for us. The drivers behind most of that growth will be a mixture of positive and negative trends in the economy – on the positive side, the continuing attractiveness of Hungary as a relatively low cost base close to the main European markets, in particular for Asian companies as they review their supply chains. On a more negative side the stresses and strains caused by the pandemic and trends such as digitalization will be important.

What’s the main change you’ve made in the firm that will benefit clients?

I would highlight two changes, one specific to our firm and one relevant to all firms but which we believe we have handled well. This specific development is the continuing refinement of our Time Mind practice management system which unlike many such systems is tailored specifically to the needs of law firm. This system is a comprehensive “integrated” system embracing client and BD data base, time recording, document and e-mail management, multicurrency billing, and financial reporting system, which operates on a real time base information. Attesting to its value is the fact that several firms in Hungary and around the region have adopted this system. The more general change is the switch to online working which went extremely smoothly.

Is technology changing the way you interact with your clients, and the services you can provide them?

I generally believe that the tech capabilities determines the competitiveness of all industries nowadays, and the legal business is not exempted from that. Our efficiency and profitability are very much depends on the successful implementation and application of the information technologies in our practice, and it is also a requirement of most of the clients even during the day to day interactions. We must follow the latest trends as well.

Can you give us a practical example of how you have helped a client to add value to their business?

In the last couple of years we have had several examples of introducing clients to transaction, which goes beyond the service normally expected of lawyers. Our creative thinking has often helped our clients find innovative solutions in groundbreaking transactions. Life in Hungary over the last thirty years has been interesting and often challenging, and it certainly continues to be so. Feedback from our clients confirms that our firm is seen as one of the leading law firms in Hungary. Using the knowledge and experience we have gained during the past three decades we look forward to continuing to respond to these challenges and working together with our current and new clients.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

We certainly believe that our clients appreciate our track record and the fact that we have been active in this market on the highest level for many years. Equally I believe our clients appreciate our focus on assisting foreign investors in relation to their investments and activities in Hungary. We see that foreign investment into Hungary is continuing and we aim to be advising those new investors in addition to those already here.