East Legal Team

Different legal environments. One approach. One practice.

East Legal Team – European Economic Interest Grouping (ELT) is an alliance of independent law firms from the Central and Eastern European region with the main purpose of providing their clients a wealth of advantages arising from our interdisciplinary professional cooperation, as well as from their ability to provide unified services at regional level.

East Legal Team EEIG was established in March 2008 by founding members Balazs & Hollo Law Firm and Stratula Mocanu & Asociatii and is subject to the provisions of Council Regulation (EEC) No 2137/85 of 25 July 1985 on the European Economic Interest Grouping. Over the years, new law firms have become part of our alliance, and since 2014 ELT has its seat in Bucharest, Romania. It covers the area of the following Central and Eastern European countries:

  • Albania
  • Austria (observer)
  • Belarus
  • Bosnia-Herzegovina
  • Bulgaria (founding member)
  • Croatia
  • Cyprus (founding member)
  • Czech Republic
  • Greece
  • Hungary (founding member)
  • Macedonia
  • Moldova
  • Montenegro
  • Poland (founding member)
  • Romania (founding member)
  • Russian Federation
  • Serbia
  • Slovakia
  • Slovenia (founding member)
  • Turkey
  • Ukraine

In addition to the directly covered countries by its Statutes, ELT also welcomes any law firms who want to join us as associate members or observers and who share our values and principles and want to be professionally active in the ELT’s region, be it from Europe, the USA, or from any other corner of the world. Our current observers come from Austria and Italy.

All current ELT members are business law firms with a remarkable reputation in their countries of origin, sharing not only sound ethical values and principles but also a rich, business oriented legal practice as their main business card.

ELT aims to provide at an international level the same top quality and integrated legal services each of the members offers in its home jurisdiction, both to international clients who seek to enter the region, as well to those who want to expand their already existent business to more than one country in this area.

On a business market under continuous expansion and intensification, mainly due to the accession to the European Union of the countries in the region, ELT aims to reconcile the paradox most investors face when, although they act on highly similar business markets, they are at the same time subject to considerably differentiated legal systems.

Thanks to the cohesion and unified practice among the ELT members, our clients are kept safe from the many encumbrances usually faced when entering a new market, thus being able to better and more profitably pursue their business pursuits.


News

  • Poland: Is factoring a way to maintain liquidity? December 2014
    Factoring was known in the Polish legal literature before the systemic changes beginning in 1989, but was not offered by Polish financial institutions until the 1990s. The first ruling by the Supreme Court of Poland related to factoring was issued in 2003 (judgment of 18 December 2003, Case I CK 7/03). It was not until the advent of the free market and the IT revolution that factoring services became a common tool.
  • Important laws passed by Romanian government in 2014 pertaining to healthcare services December 2014
    In the first half of 2014 the Romanian government passed several laws pertaining to healthcare, of which the two most notable refer to the norms governing the application of Directive 2011/24/EU on patients’ rights in cross-border healthcare in the country, along with the conditions for granting healthcare services within the national health insurance system for the years 2014-2015.
  • Cyprus: The perfect time to invest in Real Estate December 2014
    Cyprus real estate market seems to be awaking gradually from the deep recession and it is estimated that the second semester of 2014 and first semester of 2015 will be the perfect time to invest in Cyprus and especially in real estate and properties.
  • Foundation of business associations in Hungary December 2014
    A business association in Hungary may be established only in the forms prescribed by Act V of 2013 on the Civil Code. Business associations may be established for pursuing business activities by either foreign or domestic natural persons, legal persons or business associations without legal personality. With the exception of limited liability companies and companies limited by shares, at least two members are required for the foundation of a business association. A natural person may be a member with unlimited liability in only one business association at a time.
  • Slovenia: Statute of limitation in civil law December 2014
    In Slovenian law compensation claims fall under statute of limitations after three years since the victim learned of the damage and the person who caused it. In any case, the claim falls under statute of limitations in five years since the date of accrual of the cause of action (the absolute limitation period).
  • Slovenia: Punitive Damages in Civil Law October 2014
    Punitive damages have penal element in civil law which is not common in European practice. Punitive damages are well known in some countries in the USA, although the punitive damages originally derive from England (1763). Usually courts that acknowledge punitive damages award actual damages and special (punitive) damages which are usually much higher than actual damages.