Firm Name: CMS CEE
Jurisdiction: Hungary
Practice Area: Banking & Finance Law
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Professional Biography:
Leaders in Law endorses Erika Papp as our exclusively recommended Banking & Finance Law expert in Hungary. If you wish to get in touch with Erika please use the contact information provided above.
Erika Papp is the managing partner of CMS Budapest and the Head of Finance in CEE/CIS.
Erika advises financial institutions and other companies on financial transactions and regulatory projects across the CEE region. She has several years’ experience in advising clients on real estate and project finance as well as corporate lending. She is also well-regarded for her expertise in financial institution regulation, and advises banks and businesses on capital markets, derivatives and investments in Hungary as well as in CEE. Her clients include most of the largest financial institutions in the region as well as large corporates with commercial activities in energy, real estate, telecommunications and manufacturing.
Erika participated in developing the “Budapest rules”, the Hungarian adaptation of the London rules of financial restructuring, a system of support for companies in financial difficulty, usually involving the cooperation of a number of creditor banks. She is also an arbitrator at the Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry, and the leader of AmCham’s Banking Regulatory Committee in Hungary.
Erika regularly speaks at international conferences and LMA seminars. She has published numerous articles and has co-authored several finance law related publications.
Erika is the founder of a charitable foundation at the Law School of Debrecen.
Erika is widely recognised as a leading individual in her field by professional legal directories such as Chambers and Partners and Legal 500. She is highly regarded in several categories, including Banking and Finance, Project Finance and Capital Markets.
Relevant experience
- An international financial institution on preparing a new restructuring/reorganisation law in Hungary and on preparing a comprehensive report containing an analysis of the capital market regulation for CSDs in Target Markets.
- The financial services company of a major OEM on its CEEU-compliance steering project for ten jurisdictions and a high-profile banking regulatory assignment also involving commercial legal advice that focused on defining the “status quo”.
- Two major commercial banks on the multi-jurisdictional restructuring of an Italian meat manufacturing company with facilities located in Hungary, Poland, Italy and Spain.
- A number of commercials banks and foreign investors on financing major photovoltaic projects.
- OTP Bank, Budapest Bank, Commerzbank, K&H Bank Hungary on a complex syndicated loan to refinance Pannonia Bio, the largest bio ethanol producer in Hungary.
- Hungarian oil & gas company MOL on a EUR 750m revolving credit facility provided by a group of 13 banks.
- Erste Bank on a significant number of portfolio transfers, M&A transactions, project financing, refinancing, restructuring, and regulatory matters.
- OTP Bank on portfolio transfers and on several financing, refinancing and restructuring projects related to the real estate, hotel and leisure industries.
- Raiffeisen Bank on numerous high-profile project and real estate financing transactions.
Education
- 1996 – General legal studies, Law School of the University of Basel, Basel, Switzerland
- 1995 – LL.M. in Banking, Securities and Corporate Law, Law School of Fordham University, New York, USA
- 1992 – Doctor of Law, József Attila University, Szeged
Memberships
- Amcham’s Regulatory Committee
- Arbitrator, Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry
- Member, Budapest Bar Association
Publications
- The Changing Banking Sector in Hungary and its Legal Challenges, CEE Legal Matters, 2020
- Pandemic Proves Law can Work Digitally, Budapest Business Journal, 2020
- Inside Out: Pannonia Bio Bond Issuance, CEE Legal Matters, Hungary, 2020
- Hungary’s National Bank Fintech Strategy Combats Digitisation Lag, Fintech Futures, 2019
- The Hungarian National Bank Seeks to Cool Down Over-Heated Real Estate Market – CEE Legal Matters, 2018
- From Fintech to Solar Financing: What Moves the Banking Sector in 2018? – BBJ, 2018
- FinTech in Hungary: Overview. Thomson Reuters’ Practical Law, 2018
Lectures list
- 2020 – CEE: Green, Grey and Danger Zones – Competition Compliance in Bank Syndications
- 2020 – Restructuring & Insolvency series – Bankruptcy procedure
- 2020 – Banking Law: Financial market institutions, organisational and operational rules, sectoral laws
- 2019 – CMS Banking Summer School
- 2019 – LMA Conference in Budapest
- 2019 – CMS Restructuring and Insolvency Business Breakfast Series
- 2019 – MNB – the Academy of Financial Law (Pénzügyi Jogi Akadémia)
- 2019 – ISDA Competence Centre Conference in Budapest
- 2018 – Portfolio Conference: Financial IT and Disruptive Technologies
Firm Description:
With the coming together of CMS, Nabarro and Olswang on 1 May 2017, we have created a new future-facing firm, one that is well equipped to help our clients face the future with confidence.
This means putting our clients’ interests and priorities at the very heart of everything we do. And, in a world of ever-accelerating change, that demands unwavering sector focus combined with quality practice specialism.
Across our six core sectors – Energy, Financial Services, Infrastructure and Project Finance, Lifesciences and Healthcare, Real Estate and Technology, Media and Telecommunications – we don’t just have some of the brightest and most creative legal minds. Our lawyers are fully immersed in the world our clients’ operates in; genuine experts in their fields, knowledgeable about the issues you currently face, and those that may lie just around the corner.
We offer various added value services, including Law-Now and the Interactive Media Award winning RegZone which provide practical and timely knowledge relevant to your business and numerous webinars for training at your desk.
As a future-facing firm, we are driven by technology and readily embrace the possibilities it opens up for developing new and better ways of delivering legal services.
We are united in our vision and values, and focused on driving a culture of high ethical standards. Diversity & Inclusion and CSR are a huge priority for us.
And all this with the advantages of true global scale. Across your world, through 72 offices in 40 countries, we’re locally grounded, well connected, and completely familiar with the terrain. Our approach to service delivery is the same in all our offices, based on a common training program and a shared understanding of what our clients value. All CMS lawyers, both those we recruit and those we train in-house, are focused on providing quality advice and quality service. We are smart on the detail because the detail matters. We recruit, value and nurture top talent and through regular, independent evaluations, we identify opportunities to make improvements in our service and feed this back to our lawyers.
