The Launch of the Central Ultimate Beneficial Owners Register: A New Filing Obligation for Greek Legal Entities

Pursuant to the provisions of Law 4557/2018, recent Ministerial Decision (MD) 67343/2019 (as amended by MD 73900/2019, Government Gazette issues 2443/B/2019 and 2718/B/2019) regulates specific matters regarding the launch and function of the Central Ultimate Beneficial Owners Register for Greek legal entities. Law 4557/2018 on the prevention and combat of money laundering and terrorist funding stipulated that all legal entities whose registered seat is in Greece or which conduct business activity taxed in Greece must collect and submit adequate, accurate and up-to-date information on their beneficial owners, i.e. the individuals who ultimately own or control them, to the national register established for this purpose, the CUBOR

KG Law Firm Sponsors the Greek Team’s Participation in the International Negotiation Competition

Kyriakides Georgopoulos Law Firm is proud to announce that it was a sponsor of the Greek team of the Aristotle University of Thessaloniki which participated in this year’s International Negotiation Competition (INC). The INC took place from 5th to 9th July at Sophia University in Tokyo, Japan. The INC is the oldest and most renowned competition focusing on international legal negotiation for law students from all over the world. It offers a unique educational program for international legal practice.

Polenak Law Firm Advises EBRD

Polenak Law Firm advised EBRD in a loan transaction of EUR 5 million to Aktiva, including transaction advice and security documentation.

First GDPR Fines in Romania

NNDKP's head of the Data Protection practice, Roxana Ionescu, published two articles in relation to the first two fines notified by the Romanian Data Protection Authority (DPA). In applying its first fine, the Romanian DPA has reinforced its past practice on minimising the processing of personal numeric codes (equivalent to social security numbers) while making use of new concepts under the General Data Protection Regulation, like the accountability principle and data protection by design and by default. The second fine was imposed due to a data breach.

Maric & Co Law Firm: Establishing Court Practice

Branko Maric, senior partner at Maric & Co Law Firm, has represented Intesa Sanpaolo Bank d.d. Bosnia and Herzegovina in a court dispute against the Agency for Privatisation of Sarajevo Canton and the Sarajevo Canton, due to a refund of the purchase price for cancelled privatisation process. It was not a challenge to convince the court on the Agency’s obligation to repay the purchase price, however, that would not be of great value for the client because the Agency did not have its own resources to settle the claim.

The Greek Ministry of Health on Conferences, Scientific Events and Educational Activities Applying to Pharmaceutical and Medical Devices Companies

The KG Law Firm’s pharmaceutical team has circulated a News Flash on the Greek Ministry of Health Circular Ref. No. Γ5α/Γ.Π.οικ 46754 in relation to Conferences, Scientific Events & Educational Activities that pertains, inter alia to Pharmaceutical and Medical Devices Companies.

Milica Basta Speaks at AmCham’s Data Protection Briefing Session

AmCham Serbia hosted on 5 July 2019 a session on the main aspects of the new Serbian Data Protection Act. The topic attracted a significant number of attendees, mainly general counsels and IT specialists from the local companies – members of AmCham Serbia. Milica Basta, senior associate at BDK Advokati, was one of the speakers.

A Successful Notification of Concentration by Maric & Co Law Firm

Dzana Smailagic-Hromic and Ezmana Turkovic, partners at Maric & Co Law Firm have successfully prepared a joint notification of concentration between LG Electronics Inc, Seoul, South Korea and their client Lufthansa Technik AG, Hamburg, Germany and filed it to the Bosnian Competition Council. The Bosnian Competition Council has decided that the concentration is compatible with the market.

Polenak Law Firm Contributed to the North Macedonia Chapter on Corporate Governance

Kristijan Polenak, managing partner and Tatjana Shishkovska, partner at Polenak Law Firm authored the North Macedonian Chapter on Corporate Governance, 18th edition, published in May 2019 by Law Business Research.

CNIL’s Primer on Video Surveillance at Work: Uniontrad Company Decision

On 18 June 2019, the French data protection supervisory authority (“CNIL”) issued a decision on video surveillance at work. The Uniontrad Company case demonstrates that a law specifically regulating the processing of images is not an indispensable prerequisite for reaching a decision. Instead, CNIL relied on the general GDPR rules on proportionality, fair notices, and security of processing. That does not mean that every detail of the video surveillance legal regime obviously flows from the general data protection rules. For example, data protection authorities may differ as regards the format of a data processing notice. But the fundamental rules governing video surveillance at work are clear, even in the absence of a specific regulation.

KG Law Firm on Bank of Greece: Obligation of Submission of the Annual Financial Statements

KG Law Firm’s partner Claire Pavlou and junior associate, Aggelos Charalampidis discuss Bank of Greece’s obligation of submission of the Annual Financial Statements. According to Act No 2682 / 03.06.2019 of the Governor of the Bank of Greece, published in the Government Gazette No. 2453 / 21.06.2019, non-financial entities are obliged to submit their annual financial statements with the Bank of Greece.

NNDKP Assisted CTP in the Acquisition of the Logistics Park A1 Bucharest Park

NNDKP assisted CTP, the largest developer and long-term manager of industrial and logistics parks in Romania and Central and Eastern Europe in the transaction that involved the acquisition of the logistics park A1 Bucharest Park, located at km 13 on the A1 highway, which was previously owned by Vabeld Group. The logistics project comprises nine logistics buildings with a leasable area of 78,000 sqm. The transaction is valued at EUR 40 million.