The general picture is one of uncertainty across the diverse CEE region; while there was an initial slowdown last year across the board, transactions did pick up towards the end of 2020 in certain sectors. Lawyers report having been busy throughout the year, with Q2 necessitating more of a focus on restructurings and Q4 seeing a return to more usual flows of activity.
Overall, the year can be said to have been defined by volatility. Observing the pace of change, Dragan Karanović, the Serbian-based managing partner of Karanovic & Partners, reflects: ‘It used to be year-on-year, then quarter-on-quarter, and now it’s almost week-by-week.’
