Schoenherr appointed partner Dániel Gera as managing partner of Schoenherr Hungary, effective 1 April 2023. He takes over the role from Kinga Hetényi who has led the office in continuous growth for over a decade and will in the future focus on client relationship, lead in legal mandates and the training of the firm's next generation of lawyers.

Schoenherr, together with Linklaters, advised UniCredit Bank Austria as sole coordinator, documentation agent, bookrunner and mandated lead arranger, ING Bank NV as facility agent, bookrunner and mandated lead arranger, Erste Group Bank AG, Raiffeisenbank International AG and Commerzbank AG as bookrunners and mandated lead arrangers as well as other banks on the revolving syndicated facility for Wiener Stadtwerke GmbH. Wiener Stadtwerke's debut in the international syndicated loan market was significantly oversubscribed compared to the target volume of EUR 1.7bln.

The Romanian FDI regime has formally shifted to a stricter approach, with EU (including Romanian) investors now being specifically covered. We refer to Law No. 164/2023 (the "FDI Law") aimed at implementing and amending Emergency Government Ordinance No. 46/2022 ("EGO 46"), which was published in the Official Gazette of Romania on 7 June 2023.

Starting on 22 May 2023, it will be possible to establish and register family foundations in Poland. The Polish legal system will thus be expanded by a new institution that allows assets to be accumulated and managed, and profits to be distributed to beneficiaries. The legislature wished to provide the means for family-owned businesses and their owners to engage in intergenerational wealth management and to grow their wealth over time while protecting it from dispersal to unrelated entities and persons. Hence, family foundations may serve as a means to retain and multiply a family's wealth, independent of inheritance law.