Banking, Finance & Capital Markets

Serbia: Additional mandatory moratorium on repayment obligations to banks and lessors

29 July 2020 - In response to the COVID-19 pandemic, the National Bank of Serbia (“NBS”) adopted on 27 July 2020 two decisions aimed at protecting Serbia's financial system: the Decision on Temporary Measures for Banks for the Mitigation of Effects...

Kinstellar paves the way for a EUR 25 million financing deal for a new major office building in Sofia, Bulgaria

July 2020 – Kinstellar has successfully represented OTP Bank and its Bulgarian subsidiary, DSK Bank, in negotiating a EUR 25 million loan for the construction and operation of Balkan Business Center, a major office complex in Sofia.

Kinstellar advises Catara Consulting Europe on the USD 50 million Loan Participation Notes of Uzbek Industrial and Construction Bank

June 2020 – Kinstellar has advised Catara Consulting Europe on matters of Uzbek law in relation to the structuring of the USD 50 million 3-year local currency unsecured Loan Participation Notes of the Joint-Stock Commercial Bank “Uzbek Industrial...

Serbia: Government support for issuance of corporate bonds - Updated

20 May 2020 (Update) – On 15 May 2020, the National Bank of Serbia (“NBS”) adopted the Decision on the Conditions and Manner of Implementing Operations on the Open Market (“Decision”). Pursuant to this Decision, the NBS may buy and sell RSD-denominated...

Kinstellar advises ČSOB on the launch of, a blockchain based trade finance platform

May 2020 – Kinstellar has successfully advised ČSOB in connection with its launch of in the Czech Republic.

Serbia: State guarantee schemes further strengthen package of economic measures to mitigate impacts of the COVID-19 pandemic

27 April 2020 – As part of on-going efforts to mitigate the economic impact of the COVID-19 pandemic in Serbia, the Serbian government has recently adopted a decree (the “Decree”)[1] establishing state guarantees for qualifying commercial bank loans.

Serbia: Preferential loans part of government package to mitigate the impact of the COVID-19 pandemic

16 April 2020 – On 10 April 2020, as part of a wider package of economic measures aimed at mitigating the negative impact of the COVID-19 pandemic, the Serbian government adopted the “Decree on Determining the Program of Financial Support for Commercial...

Serbia: Government support for issuance of corporate bonds

14 April 2020 – On 10 April 2020, the Serbian Government adopted the support package for the Serbian economy in response to the COVID 19 pandemic that is worth in excess of EUR 5 bn and that had been initially announced on 31 March 2020.

Kinstellar Counsel Andriy Nikiforov speaks at a webinar on COVID-19 impact on credit documentation organised by the Ukrainian Bar Association

April 2020 – On 3 April 2020, Andriy Nikiforov, Counsel at Kinstellar Kyiv and Chair of the Banking, Finance and Insurance Committee of the Ukrainian Bar Association (UBA), spoke at a webinar on impact of COVID-19 pandemic on credit documentation under...

Czech Republic: Bill on certain loan repayment measures in connection with the COVID-19 pandemic

9 April 2020 – On 1 April 2020, the Government of the Czech Republic approved, as expected, a bill allowing all debtors under loan agreements or similar contracts to notify their creditors of their intention to make use of a so-called protective period...