EXPERTISE
Banking, Finance & Capital Markets

New Ukrainian Bankruptcy Code. The finance and debt restructuring perspective

November 2019 – On 21 October 2019, the Code on Bankruptcy Procedures adopted by Ukraine’s parliament on 18 October 2018 (“the Code”) came into effect. The Code replaces the Act of Ukraine on Renewal of Debtor’s Solvency or Declaring It Bankrupt...

Kinstellar advises on Galerie Butovice acquisition

October 2019 – Kinstellar has successfully advised INVESTIKA realitní fond, OPF (Czech real estate fund) on the acquisition and refinancing of the Galerie Butovice, shopping centre in Prague 5, from funds managed by Cromwell Property Group.
The...

Counsel Andriy Nikiforov speaks at the Inaugural LMA Training in Kyiv

October 2019 – Andriy Nikiforov, Counsel and Head of Banking, Finance & Capital Markets at Kinstellar Kyiv, participated in the inaugural LMA Training in Kyiv, Ukraine, organised by the Loan Market Association (LMA) on 23 October 2019.
The...

Kinstellar finishes the first cross-border merger in the Czech Republic of two life insurance companies

October 2019 – Kinstellar has advised the Dutch NN Group on the completion of the first cross-border merger in the Czech Republic that involved two life insurance companies.
The Kinstellar team was managed by Karla Rundtová, Of Counsel, with...

Crossing borders and sharing know-how: Martina Březinová, Counsel in Prague, on secondment at Kinstellar’s sister firm DFDL

October 2019 – Martina Březinová, Counsel at Kinstellar’s Prague office and part of the regional Banking & Finance team, recently completed a three-month secondment at Kinstellar’s sister firm DFDL’s Phnom Penh office in Cambodia where she...

Kinstellar advises FMS-Wertmanagement AöR on the sale of a USD multimillion debt owed by a Ukrainian real estate business

September 2019 – Kinstellar has acted as Ukrainian legal counsel to FMS-Wertmanagement AöR, a German federal institution established to wind up the risk positions of Hypo Real Estate Holding, in connection with the sale of the debt owed by a shopping...

Lending to companies engaged in heat business in Ukraine: New rules apply to loans from international lenders

Regulation of Heat Market in Ukraine
September 2019 – In Ukraine, the generation, transmission and distribution of heat are subject to licensing by either the National Energy and Utilities Regulation Commission (NEURC) or regional state administrations...

Kinstellar advises on the acquisition financing of Centrum Krakov in Prague

August 2019 – Kinstellar has successfully advised Česká spořitelna on the financing for the acquisition of Centrum Krakov, a shopping centre located in Prague, by WOOD & Company, through its retail subfund (WOOD & Company Retail Podfond)....

Bulgaria introduces more detailed rules for provision of remote and online payment services

July 2019 – The Bulgarian National Bank (the “BNB”) has recently adopted amendments to its Ordinance No 3 on the Terms for the Opening of Payment Accounts, Execution of Payment Transactions and Use of Payment Instruments (the “Ordinance”). The...

Payment card acceptance in Hungary

May 2019 – The Hungarian Competition Authority ("HCA") has published its draft sector inquiry report on payment card acceptance in Hungary.
The payment industry, in particular interchange fees, has long been the subject of significant scrutiny...