The colleagues of Rein and Partners Freshfields Bruckhaus Deringer will continue to operate in a new corporate structure, as an independent law firm in Budapest under the brand name Oppenheim as of November 2007.
The new arrangement will allow Oppenheim to accelerate its business processes and strategic decision making in the local market, while adapting to clients’ needs more quickly and more flexibly. Operating with 12 equity partners, Oppenheim will be a preferred cooperating partner for Freshfields Bruckhaus Deringer in Hungary in the future.
The national economies of Hungary and the Central Eastern European region have arrived at a new stage of development and are now operating according to the laws typical of mature market economies. Multinational corporations as well as large local companies tend to demand legal services at the best international standard in both local and cross-border proceedings. Most companies require their legal service providers to have a thorough and up-to-date knowledge of both the national and EU legal environment. Recognising this, as well the importance of the CEE markets, Oppenheim agreed with Freshfields Bruckhaus Deringer’s management that the two firms will base their cooperation on new grounds.
In the future Oppenheim, as an independent legal practice with specialised knowledge of many corporate practice areas, will provide full service to large and mid-size local businesses in the Hungarian and regional markets. Oppenheim’s new corporate structure allows for a flexible approach in the local market as the firm’s international experience and its service capacities ensure a seamless and high quality service provision in complex, cross-border or EU matters. At the same time, Oppenheim will act as a cooperating partner for Freshfields Bruckhaus Deringer in international transactions.
‘This is the first time that the Hungarian affiliate of a distinguished global law firm has transformed into an independent top market legal service provider in the local market. We are all very enthusiastic about the opportunity of establishing a new brand. Oppenheim’s clients will benefit from our international experience, integrating and innovative approach and the flexible corporate structure. I, and the other eleven partners in the firm, will be working to provide innovative solutions, both in contentious and non-contentious matters, to clients who appreciate 20 years of experience in a market which has transformed from a centrally planned to a market economy,’ said Ulrike Rein, a former Freshfields equity partner, who has chosen to transfer to Oppenheim.
Oppenheim, which employs more than 30 lawyers, counsels its clients in all areas of Hungarian business law. Practice areas of the firm include high profile M&A transactions, public procurement, labour law, antitrust and competition law as well as litigation and arbitration proceedings. The firm has specialised expertise in industries such as energy, pharmaceuticals and infrastructure development.