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Erika Papp

Managing Partner
Head of Banking and International Finance, Hungary

CMS Cameron McKenna Nabarro Olswang LLP Magyarországi Fióktelepe
YBL Palace
Károlyi utca 12
1053 Budapest
Hungary
Languages Hungarian, English, German
Banking & Finance

Erika Papp is the managing partner of CMS Budapest, heading the Banking and International Finance practice in Hungary.

Erika has advised financial institutions as well as state bodies on transactions across the CEE region. Erika has several years’ experience of practicing business law in Hungary, particularly in transactional and banking law and securities law. Erika has amassed considerable knowledge relating to finance transactions, regulatory issues, derivatives and investments. She advises the largest players in the financial services sector, including Intesa Sanpaolo’s Hungarian subsidiary, CIB Bank; the largest Hungarian commercial bank, OTP; the Austrian based ERSTE, Raiffeisen Bank and MKB Bank among several others.

She is arbitrator at the Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry and leader of banking of AmCham’s Regulatory Committee.

Erika participated in developing the so called “Budapest rules” that is the Hungarian adaptation of the London rules, a system of support for companies in financial difficulties, usually involving the co-operation of a number of creditor banks.

Erika frequently presents on domestic and international conferences, seminars, publishes articles and is the author of Hungarian chapters of numerous books.

Erika is recommended by Legal 500 and Chambers and Partners in several categories, including Banking and Finance, Project Finance, Capital Markets and Restructuring and Insolvency.

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Clients enthuse that "she always managed to overcome bottlenecks and guide us towards a solution."

Chambers 2018

Chambers notes practice head Erika Papp “is the leader of the group and has great insight into the most varied types of finance work, from the most basic to the most complex. For financing or banking she has the best team around.”

Chambers, 2015

Relevant experience

  • MOL, the Hungarian oil & gas company on a EUR 750m revolving credit facility provided by a group of 13 banks.
  • K&H, Budapest Bank and Raiffeisen Bank on a EUR 135m refinancing transaction for Pannonia Ethanol.
  • Intesa Sanpaolo and CIB Bank on the sale of a non-performing corporate loan portfolio of approximately 35 connections to a consortium of a leading global alternative investment fund manager and a property investment, utilization and development company.
  • One of the largest financial institutions in the world on a banking M&A transaction in Hungary; on cross border and national due diligence exercise in relation to a planned acquisition and transfer of certain corporate loan portfolios and on the transfer of portfolio of one loan asset.
  • A multilateral development bank on a EUR 314m loan granted by a group of banks to the Hungarian gas storage company, MMBF.
  • Erste Bank on a significant number of portfolio transfers, M&A transactions, project financing, refinancing, restructuring, and regulatory matters.
  • OTP Bank on portfolio transfers, on several financings, refinancing and restructuring projects related to the real estate and hotels and leisure sectors as well as major corporations.
  • Raiffeisen Bank on numerous project and real estate financing transactions, such as Portico, Váci Corner Offices, Sziget Center, Emery Invest property.
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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
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Memberships

  • Arbitrator, Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry.
  • Leader, Banking Group at Regulatory Committee of Amcham Hungary.
  • Member, Budapest Bar Association.
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Publications

  • Settlement with creditors in Hungarian Bankruptcy proceedings, Financier World Wide, United Kingdom, 2015
  • Why Hungary is Such a Challenging Market for Foreign Investors, CEE Legal Matters, Czech Republic, 2014
  • Value still matters, Budapest Business Journal, Hungary, 2014
  • Central Bank Assumes Functions Of Financial Supervisory Authority, World Securities Law Report, United Kingdom, 2013
  • Fiduciary trust (article in Hungarian), Napi Gazdaság, Hungary, 2013
  • The insight of day-to-day practice, Voice, Hungary, 2013
  • Hungarian legislation regulating the disclosure of banking secrets (article in Hungarian), Origo, Hungary, 2013
  • The legal aspects of the banking secrecy in Hungary (article in Hungarian), Jogi Fórum, Hungary, 2013
  • A number of new businesses/business lines can be established on fiduciary trust in the future (article in Hungarian), Origo, Hungary 2013
  • Author of the Hungarian chapter of Oxford University Press (OUP) book on a multi-jurisdictional comparative analysis of expedited corporate and debt restructuring procedures in the European Union
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Lectures list

  • 2017 - Presenter, K&K Financing Training Institute on “New legal issues in the real estate financing”.
  • 2017 - Presenter, CMS Seminar on “Cloud computing in the financial services sector”. 
  • 2017 - Presenter, CMS Seminar on “New Hungarian Regulations of Renewable Energy, METÁR”.
  • 2016- Presenter, NPL Europe 2016 Conference by Smithnovak.
  • 2014 - Presenter, Portfolio Sales Conference in London. 
  • 2014 - Presenter, Syndicated Loan Conference in Vienna.
  • 2013 - Presenter, Europäische Rechtsakademie in Germany.
  • 2013 - Presenter, MABISZ Conference in Budapest.
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Capital Markets & Derivatives

Erika Papp is the managing partner of CMS Budapest, heading the Banking and International Finance practice in Hungary.

Erika has advised financial institutions as well as state bodies on transactions across the CEE region. She has several years’ experience of practicing business law in Hungary, particularly in transactional, banking law and securities law.

She has amassed considerable knowledge in mergers & acquisitions and sales, portfolio transfers, bank transformations, corporate finance, project and real estate finance, financial services, capital markets and derivatives, restructuring & insolvency, private equity & MBOs, investments and regulatory issues. She advises the largest players in the financial services sector.

Erika participated in developing the so called “Budapest rules”, the Hungarian adaptation of the London rules, a system of support for companies in financial difficulties, usually involving the co-operation of a number of creditor banks.

She is arbitrator at the Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry and leader of banking of AmCham’s Regulatory Committee.

Erika frequently presents on domestic and international conferences, seminars, publishes articles and is the author of Hungarian chapters of numerous books.

Erika is recommended by Legal 500 and Chambers and Partners in several categories, including Banking and Finance, Project Finance, Capital Markets and Restructuring and Insolvency.

more less

Clients enthuse that "she always managed to overcome bottlenecks and guide us towards a solution."

Chambers 2018

Focused on securities law, Erika Papp is described as a "renowned and defining character of the market" by sources.

Chambers, 2015

Relevant experience

  • MOL, the Hungarian oil & gas company on a EUR 750m revolving credit facility provided by a group of 13 banks.
  • K&H, Budapest Bank and Raiffeisen Bank on a EUR 135m refinancing transaction for Pannonia Ethanol.
  • Intesa Sanpaolo and CIB Bank on the sale of a non-performing corporate loan portfolio of approximately 35 connections to a consortium of a leading global alternative investment fund manager and a property investment, utilization and development company.
  • One of the largest financial institutions in the world on a banking M&A transaction in Hungary; on cross border and national due diligence exercise in relation to a planned acquisition and transfer of certain corporate loan portfolios and on the transfer of portfolio of one loan asset.
  • A multilateral development bank on a EUR 314m loan granted by a group of banks to the Hungarian gas storage company, MMBF.
  • Erste Bank on a significant number of portfolio transfers, M&A transactions, project financing, refinancing, restructuring, and regulatory matters.
  • OTP Bank on portfolio transfers, on several financings, refinancing and restructuring projects related to the real estate and hotels and leisure sectors as well as major corporations.
  • Raiffeisen Bank on numerous project and real estate financing transactions, such as Portico, Váci Corner Offices, Sziget Center, Emery Invest property.
more less

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.
more less

Memberships

  • Arbitrator, Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry.
  • Leader, Banking Group at Regulatory Committee of Amcham Hungary.
  • Member, Budapest Bar Association.
more less

Publications

  • Settlement with creditors in Hungarian Bankruptcy proceedings, Financier World Wide, United Kingdom, 2015
  • Why Hungary is Such a Challenging Market for Foreign Investors, CEE Legal Matters, Czech Republic, 2014
  • Value still matters, Budapest Business Journal, Hungary, 2014
  • Central Bank Assumes Functions Of Financial Supervisory Authority, World Securities Law Report, United Kingdom, 2013
  • Fiduciary trust (article in Hungarian), Napi Gazdaság, Hungary, 2013
  • The insight of day-to-day practice, Voice, Hungary, 2013
  • Hungarian legislation regulating the disclosure of banking secrets (article in Hungarian), Origo, Hungary, 2013
  • The legal aspects of the banking secrecy in Hungary (article in Hungarian), Jogi Fórum, Hungary, 2013
  • A number of new businesses/business lines can be established on fiduciary trust in the future (article in Hungarian), Origo, Hungary 2013
  • Author of the Hungarian chapter of Oxford University Press (OUP) book on a multi-jurisdictional comparative analysis of expedited corporate and debt restructuring procedures in the European Union
more less

Lectures list

  • 2017 - Presenter, K&K Financing Training Institute on “New legal issues in the real estate financing”.
  • 2017 - Presenter, CMS Seminar on “Cloud computing in the financial services sector”.
  • 2017 - Presenter, CMS Seminar on “New Hungarian Regulations of Renewable Energy, METÁR”.
  • 2016- Presenter, NPL Europe 2016 Conference by Smithnovak.
  • 2014 - Presenter, Portfolio Sales Conference in London.
  • 2014 - Presenter, Syndicated Loan Conference in Vienna.
  • 2013 - Presenter, Europäische Rechtsakademie in Germany.
  • 2013 - Presenter, MABISZ Conference in Budapest.
more less

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