Real Estate & Construction

Recent Articles

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  20.11.2023

  Hungary

  Final draft of ESG Law transposing the EU’s CSR Directive submitted to Hungarian parliament

  On 14 November 2023, the Minister for Economic Development submitted to parliament the final draft "Law on the Rules of Environmentally Conscious and Societally and Socially Responsive Corporate Social Responsibility Reporting Promoting Sustainable Finance and Unified Corporate Responsibility" (ESG Law).The ESG Law transposes the Corporate Sustainability Reporting Directive 2022/2464 (CSRD) into national law, establishes a national Environmental, Social and Governance (ESG) framework to comply with EU obligations, and includes provisions of the proposed Corporate Sustainability Due Diligence Directive...

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  17.11.2023

  United Kingdom

  Proposed legislation would radically expand the UK’s class action regime

  15 November 2023 saw publication of two proposed amendments to the Digital Markets, Competition and Consumers Bill that would have significant impacts on the UK’s class action regime:First, a proposed amendment, introduced by Sir Robert Buckland, to expand the jurisdiction of the UK Competition Appeal Tribunal (the “CAT”) to consumer class actions (the “Buckland Amendment”).  At present, the CAT only has jurisdiction for competition class actions.Second, a proposal to reverse the effect of the Supreme Court’s decision in PACCAR, in relation to damages claims...

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  10.11.2023

  Hungary

  Final draft of CSR Directive expected to be submitted to Parliament

  On 31 October 2023, the Ministry for Economic Development submitted for public consultation the draft "Law on the Rules of Environmentally Conscious and Societally and Socially Responsive Corporate Social Responsibility Reporting Promoting Sustainable Finance and Unified Corporate Responsibility".The ESG Law transposes the Corporate Sustainability Reporting Directive 2022/2464 (CSRD) into national law, establishes a national Environmental, Social and Governance (ESG) framework to comply with EU obligations, and includes provisions of the proposed Corporate Sustainability Due Diligence Directive...

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  17.10.2023

  Ukraine

  Ukraine establishes transparent rules for the use of government agricultural land

  On 3 September 2023, Law of Ukraine No. 3272-IX On Amendments to Certain Legislative Acts of Ukraine to Enhance the State-Owned Agricultural Land Use Efficiency came into effect. This law provides for the following: state-owned lands with agricultural designated purpose may be leased out to state-owned LLCs or PJSCs that will be established following the reorganisation of the state agricultural enterprises; andbeginning 1 January 2024, these state-owned LLCs or PJSCs can grant these leased lands into sublease via the Prozorro platform, a digital platform for tenders and auctions.Agricultural...

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  11.10.2023

  Hungary

  Hungary sets cybersecurity fines in decree

  A Hungarian government decree (Government Decree 305/2023 (VII. 11.) on the amount of cybersecurity fines, detailed rules of procedure for the imposition and payment of fines) has set down the minimum and maximum fines imposed by the competent authority under the new Act XXIII of 2023 on Cybersecurity Certification and Cybersecurity Supervision. The Decree specifies the infringements that are punishable by fines and adapts the amount of each fine.Infringements and finesUnder the Decree, the competent authority issuing the certification will impose fines for breaches of EU and Hungarian legislation,...

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  15.09.2023

  Ukraine

  Ukraine Supreme Court interpretations of building regulations prove crucial to the construction industry within Ukraine

  The Ukrainian legislative framework regulating construction is constantly under development and is not always straightforward or aligned. In order to launch a construction project in Ukraine, it is crucial for developers to consider the guidance found in the decisions of the Supreme Court, which are binding for state apparatus, including authorities granting permissions to develop buildings. When high court decisions make a U-turn in established practice, they can potentially impact the market. The following article describes Supreme Court decisions in two areas of development: construction in...

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