Hungary: Extraordinary measures impact the Hungarian banking sector

On 18 March the Hungarian prime minister announced extraordinary measures to be taken as a result of the national emergency caused by COVID-19. Most of these measures have a strong impact on the Hungarian economy; in particular, the banking sector.

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Covid-19: Overview on moratoria

Readers should be aware that EBA issued guidelines designed to clarify (among others) when a moratorium measure (private or public) does not automatically trigger the re-classification of exposures as forborne. Criteria include (i) moratorium was passed in response of the COVID19 pandemic, (ii) measure is broadly applied by institutions in that jurisdiction, (iii) measure is […]

CEE legislation tracker: Czech Republic

Banking & Finance, Capital Markets Interest-free state loans and guarantees Following the first three credit and guarantee initiatives COVID I, II and COVID Prague designed for the small and medium sized enterprises, the Ministry of Industry and Trade (“MoIT”) and the Czech-Moravian Guarantee and Development Bank (“CMGDB”) are now planning a COVID III guarantee. COVID […]

CEE legislation tracker: Turkey

Banking & Finance, Capital Markets Article 23 to 27 of the Capital Markets Law (governing material transactions and minority shareholders, including the right to exit, the offer to buy shares, the obligation to buy shares, the right to sell) will not apply to the transactions of the Turkey Wealth Fund, sub-funds and companies that will […]

COVID-19 and investment protection

As the world grapples with COVID-19, we are seeing some of the most unprecedented State measures of our time. Measures causing severe financial damage to many businesses and industries. Where does that leave foreign investors? Will they be able to claim compensation?

Latest Briefings

Why you might be accepting fake news without realising it

Do you believe everything you see? No matter how discerning or intelligent you are, we are all pre-programmed to be more accepting of information in certain contexts than others. While most of us are wise to the ‘Nigerian prince’ phishing scams of old, we are less likely to question an email from someone we know. We might question news on a website we’ve never seen before – but not in a publication we know well. And if we follow somebody high-profile on a social media platform we’re familiar with, like Instagram, chances are we take what they say at face value. It’s precisely because of this that mainstream media recently described influencer and celebrity accounts as ‘the gateway drug to fake news’.

Coronavirus: Impact of exceptional and temporary measures on enforcement proceedings [Portugal]

A number of exceptional measures have been introduced in the justice sector. These measures are set out in Law 1-A/2020 of 18 March and Decree‑Law 10-A/2020 of 13 March (as amended by Law 4-A/2020 of 6 April). The measures include exceptional rules on the extension of time limits and of the periods to take judicial steps. The rules will remain in place until the end of the exceptional situation to prevent, contain, mitigate and treat COVID-19.

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The WFH revolution

Will Covid-19 revolutionise the way we work, permanently? The speed with which people have shifted from the daily commute to working from home, with all the adjustments that is requiring, has been astonishing. The short-term impacts are still sinking in. No-one yet knows how long the Covid-19 crisis will last but, longer term, are there […]

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Walker Morris furloughs staff to conserve cash

As the legal industry battles the financial consequences of the coronavirus pandemic, Walker Morris is furloughing some members of staff to protect the long-term health of the business. Staff in some “quieter practice areas” will now be part of the government’s job retention scheme. The scheme currently allows organisations to claim back 80 per cent of […]

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City trio act on £80m sale of Ted Baker’s HQ

Addleshaw Goddard, Greenberg Traurig and Forsters have seen through the £80m sale of Ted Baker’s London HQ to the British Airways’ Pension Fund (BAPF). Addleshaws corporate M&A partners Simon Wood and Andrew Rosling acted for Ted Baker, alongside co-head of the firm’s real estate sector William Boss. The stricken retailer bought the 8,920 sq ft […]

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