Ákos Dérer joined the Budapest office of White & Case in 2005 and is a senior associate in the Banking and Finance and Financial Restructuring & Insolvency practice groups.

His experience includes implementing a variety of domestic and international banking and finance transactions in a wide range of industries, such as financial services, insurance, transportation, infrastructure, telecommunications and real estate. He partners with international clients in connection with various legal and regulatory issues that affect their operations in Hungary. By way of example, Ákos has been a core team member in most of the restructuring and insolvency matters White & Case has handled in Hungary so far.

His recent, significant experience includes advising on the following diverse array of matters:

Domestic and International Bank Transactions 

• A leading European commercial bank in relation to the sale of its Hungarian banking subsidiary to a Hungarian investment company;
• A major American financial services company on converting its Hungarian banking subsidiary into a branch of the company’s European retail division by way of a cross-border merger;
• One of the largest global banking groups in the world on converting its Hungarian banking subsidiary into a branch of its France-based bank group;
• The Hungarian subsidiary of one of the largest banking and financial services organizations in the world, in various legal and regulatory issues;
• A subsidiary of a leading European banking and financial group in its acquisition and legal due diligence of two Hungarian companies;
• A preeminent global financial services company in the sale of two of its Hungarian leasing subsidiaries to the leasing arm of a global financial institution of Dutch origin;

Real Estate Finance

• The second-biggest commercial bank in Hungary and the Hungarian subsidiary of a leading Austrian banking and services company regarding a €43.7 million term loan facility for a Hungarian real estate investment company in connection with the purchase of several properties in the 13th district of Budapest;
• A state-owned bank in Ireland in the financing of real estate projects in Hungary;
• One of the largest financial services providers in Central and Eastern Europe in connection with its €37.5 million senior loan financing provided to a member of a leading construction group in CEE, for the purpose of financing the construction of a four-star hotel in Budapest, equipped, inter alia, with a restaurant, a fitness club, a conference center, a retail area and an underground garage;

Project Finance and Infrastructure 

• A consortium composed of several leading construction companies in connection with their successful bid for Phase 3 of the M6 Motorway and representing their lenders in connection with the financing of the project;
• A Spanish construction group on the 2006 acquisition of the UK's leading airport operator, and the 2007 sale by the construction group and the airport operator of the airport operator's majority stake in the Hungarian Airport to a German airport operator for €1.9 billion;
• A leading UK airport operator with respect to the bank and financial law aspects of its approximately US$2.2 billion privatization of the Hungarian state-owned airport in 2005;

Insurance 

• A subsidiary of one of the largest international insurance companies in the world in various legal and regulatory matters;
• An American insurance company in relation to the Hungarian legal and regulatory implications of the sale of its insurance arm;

Financial Restructuring and Insolvency 

• Together with our São Paulo, New York and Miami offices, a Brazilian company with ADRs listed on the NYSE and the world’s largest producer of bleached eucalyptus pulp, in its landmark restructuring of US$2.7 billion in derivative losses and other bank debt, which included 14 creditors and involved a comprehensive export-backed credit facility secured by plants, real property and forests;
• The Hungarian subsidiary of one of the leading companies in the equipment leasing sector regarding the enforceability of their outstanding claim against one of their bankrupt clients in relation to a lease agreement;
• One of the world's largest suppliers of automotive parts in connection with insolvency proceedings against one of its Hungarian suppliers;
• A leading healthcare company on the restructuring of an installment sale of high value equipment;
• One of the largest full service banks in the world in relation to (i) the implications of derivative transactions in light of the insolvency of a leading US private equity firm, and (ii) the implications of the new amendments of the Hungarian Bankruptcy Act which came into force on September 1, 2009;
• A major private equity house on its investment in the entertainment industry and winding down of certain operations and other exit options;

Capital Markets 

• A government agency in drafting the information document related to its US$2 billion bonds issue program; and
• A registered investment advisor in relation to the regulatory implications of the investment advisor’s acquisition of qualifying ownership in the largest commercial bank in Hungary.

Ákos started his career at KPMG Hungary. Prior to joining White & Case, Ákos worked six years at the National Bank of Hungary's Regulatory Policy Department as Senior Legal Counsel. While with the Bank he focused on banking law, securities law (securities transactions, investment services and investor protection issues), legal documentation of bond issues, regulation of repo transactions and close-out netting, legal harmonization of banking and securities law in connection with EU accession and corporate governance issues.

He also spent six months on secondment as legal counsel at the European Central Bank in Frankfurt, where he drafted and edited contracts with external service providers of the Bank and the legal documentation of significant procurements. He also provided legal guidance in connection with banking operations.

Bars and Courts
Budapest Bar, 2005

Education
JD, Eötvös Loránd University, Budapest, 1997

Awards and Recognition
Chambers Europe, 2011

Languages
Hungarian
English
German

Citizenship
Hungary