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This Issue of the CEE Legal Matters Maga Year 3, Issue 1 CEE February 2016 Legal Matters In-Depth Analysis of the News and Newsmakers That Shape Europe’s Emerging Legal Markets Across the Wire: Deals and Cases in CEE The Automotive Sector in CEE Market Spotlight: Bulgaria and Slovakia CEE Buzz Inside Insights Building Blocks: Altheimer & Gray in CEE Status of Russian Market New Arbitration Center in Bulgaria Bulgarian Round Table Slovakia: A Tightly Wound Legal Market Experts Review: Bankruptcy/Insolvency Deloitte Legal Law Firm in Bulgaria Representing tomorrow Deloitte Legal Law Firm, Bulgaria is part of the Deloitte Legal network. With over 1,500 legal professionals in 70 countries around the globe, including the office in Sofia, Bulgaria, Deloitte Legal offers competent yet pragmatic advice in all fields of national and international business law. • Corporate / M & A • Real Estate • Banking, International Finance and Capital Markets • Tax Controversy • Commercial Law • Dispute Resolution • Employment & Pension • Bankruptcy & Restructuring • Data Protection • Protection of Competition • IP Rights • Legal regimes of particular industries, such as • Consumer Protection TMT, Energy, Financial Institutions, Transport, • Public Procurement Infrastructure, etc. www.deloitte.bg Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms. Deloitte Legal Law Firm is an independent Bulgarian law firm which shares the professional values of Deloitte Legal’s legal advisory practice. Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. Visit the global Deloitte Legal website www.deloitte.com/deloittelegal to see which services Deloitte Legal offers in a particular country. © 2016. For nformation, contact Deloitte Bulgaria. Preliminary Matters CEE Legal Matters Editorial: “The Ultimate In-Depth Analysis of the News and Newsmakers That Shape Europe's Emerging Legal Markets Source for Information” “When God was that particular issue, but because of all of your making the months hard work I just wanted to tell you that you are I think February doing an amazing job and providing your audi- was a mistake, like ence with super content. Even further – some a burp. There it friends living and working across the region was, small, dark, were telling me in the last couple of months and prickly. It had that your publication (online and printed) be- absolutely no re- came their ultimate source for information. deeming qualities.” Compliments! – Shannon You can see why we’re excited. Wiersbitzky Second, by demand of attendees to the first GC February doesn’t get a lot of love, despite the Summit last September in Budapest, we recent- holiday that lies in its middle. February seems, ly announced that the 2016 GC Summit will be sometimes, like a cruel joke played on a world held on October 6-7 in Istanbul. In addition to eager for hope and comfort. The month is still placing the event in one of the most dynamic, significant, and fascinating cities in the world, The Editors: dark, still cold, still gray, and spring seems al- most infinitely far off. Work is a slog, with little the event itself should be a huge success, at- David Stuckey at the end of the day except the expectation of tended by as many as 200 Chief Legal Officers [email protected] more work tomorrow. from all over CEE. We can’t wait. Radu Cotarcea This issue warrants excitement as well. Former At least for some people. Deloitte Legal Law Firm in Bulgaria [email protected] McGuire Woods Partner Simon Cox starts us But for us, at CEE Legal Matters, February off with his Guest Editorial from London, and Letters to the Editors: resonates slightly differently. We associate the both the Summary of Deals and The Buzz are month with beginnings, hope, and excitement. larger than ever. For the first time our Market Representing tomorrow If you like what you read in these Spotlights fall on Bulgaria and Slovakia, includ- ( pages or even if you don’t) we No, it’s true! ing a Round Table conversation with Bulgarian really do want to hear from you. experts, interviews with partners making major Please send any comments, crit- Deloitte Legal Law Firm, Bulgaria is part of the Deloitte Legal network. With over 1,500 legal professionals in 70 I suppose, in the interests of full candor, some deals in both markets happen, guest editorials countries around the globe, including the office in Sofia, Bulgaria, Deloitte Legal offers competent yet pragmatic icisms, questions, or ideas to us of my positivity may be related to the vacation at: by Borislav Boyanov and Jaroslav Ruzicka, and advice in all fields of national and international business law. I’m about to take to the beaches of Southeast much more. The first installment of our new [email protected] Asia. I admit it. But not all of it, I promise. Be- Building Blocks of CEE feature is an extend- cause, look: We launched our very first issue of ed oral history of Altheimer & Gray, the first • Corporate / M & A • Real Estate Disclaimer: the CEE Legal Matters magazine two years ago genuine pan-CEE law firm, which flared into • Banking, International Finance and Capital Markets • Tax Controversy this month – a remarkable thing, even as I write At CEE Legal Matters, we hate boil- prominence in the late 90s before dissolving • Commercial Law • Dispute Resolution erplate disclaimers in small print as it. And each February issue launches a new in the early years of the 21st century. Finally, • Employment & Pension • Bankruptcy & Restructuring much as you do. But we also recognize year, a new editorial calendar, and new plans, Experts Review focuses on Restructuring and • Data Protection • Protection of Competition the importance of the “better safe than opportunities, and expectations. sorry” principle. So, while we strive for Insolvency across CEE. • IP Rights • Legal regimes of particular industries, such as accuracy and hope to develop our read- • Consumer Protection TMT, Energy, Financial Institutions, Transport, ers’ trust, we nonetheless have to be ab- So let’s review a few (non-vacationy) things There’s more. Ultimately, as always, there’s a lot. • Public Procurement Infrastructure, etc. solutely clear about one thing: Nothing we’re excited about this year. First, our growth in the CEE Legal Matters magazine or “February is a suitable month for dying. website is meant or should be under- is, frankly, a source of real pride. Almost 40,000 stood as legal advice of any kind. Read- – forty thousand – unique visitors a day to the Everything around is dead, the trees black and ers should proceed at their own risk, and CEE Legal Matters website. And each issue frozen so that the appearance of green shoots any questions about legal assertions, two months hence seems preposterous, the conclusions, or representations made of this magazine is read now by thousands of ground hard and cold, the snow dirty, the win- www.deloitte.bg in these pages should be directed to the readers across the region, the United Kingdom, person or persons who made them. and the United States. ter hateful, hanging on too long.” We believe CEE Legal Matters can serve as a useful conduit for legal ex- And it’s not just numbers. The CEE Legal Mat- – Anna Quindlen perts, and we will continue to look for ters brand is increasingly recognized as truly ways to exapnd that service. But now, Well, maybe. Frankly, we’re shaking off the dol- valuable. More and more, we see notes like this later, and for all time: We do not our- drums and looking forward. We’re glad you’re Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. selves claim to know or understand the DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. one: Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms. law as it is cited in these pages, nor do joining us on the ride. See you in Istanbul! we accept any responsibility for facts as Deloitte Legal Law Firm is an independent Bulgarian law firm which shares the professional values of Deloitte Legal’s legal advisory practice. Deloitte Legal means the legal practices I would like to tell you that today I received the of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. Visit the global Deloitte Legal website www.deloitte.com/deloittelegal to see which they may be asserted. services Deloitte Legal offers in a particular country. Special issue January 2016. Not only because of David Stuckey © 2016. For nformation, contact Deloitte Bulgaria. CEE Legal Matters 3 Preliminary Matters Guest Editorial: Churchill to Ceaucescu and Beyond forlorn in the grand state room of the Par- decades, more recently there has been a liament building where the signing was due gradual retrenchment of networks as the to take place with all the attendant pomp foreign law firms struggle to compete with and circumstance. Hearing this news, the lower cost-based local firms. Ironically the buyer’s CEO did not even disembark from partners of these local firms were often his corporate jet and never returned for the the beneficiaries of early training with the eventual (lower key) signing one year lat- Western firms.
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