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Browse through a selection of articles from our legal experts on topics of interest to investors and businesses in our region.

Aviation Sector Update, Ukraine

September 2019 – During the summer 2019 the Cabinet of Ministers and State Aviation Service (SAS) of Ukraine adopted several important bylaws further harmonising Ukrainian legislation with European Union Aviation Safety Agency (EASA) standards and...

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...

Cryptocurrency platforms and digital wallet providers in Bulgaria will soon be obliged to apply anti-money laundering measures

August 2019 – Bulgaria last year announced its intention to join the European Exchange Rate Mechanism (ERM II) and Banking Union, which is expected to pave the way for the country to join the Eurozone. A roadmap has been adopted with specific regulatory...

Right of first refusal clauses are now recognised by Bulgarian courts

August 2019 – The Bulgarian Supreme Court of Cassation (“Supreme Court”) has recently issued a decision (No.19, dated 8 August 2019, under commercial case No.2511/2017) that recognises for the first time the concept of right of first refusal (“ROFR”)...

Kinstellar Energy & Natural Resources Digest: Ukraine. July 2019 in Review

August 2019 – Kinstellar Energy & Natural Resources Digest: Ukraine. July in Review
ELECTRICITY: First reflections on the new electricity market in Ukraine
Ukraine’s new electricity market began operation on 1 July 2019 and has...

Spotlight on Uzbekistan: Kinstellar's regular look at the Uzbek market

August 2019 – Kinstellar’s regular look at the Uzbek market.
Adoption of the Personal Data Law
The Law on Personal Data ("Law") No. ZRU-547 was signed by the President on 2 July 2019. It will come into force on 1 October 2019.
The...

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...

Kinstellar Energy & Natural Resources Digest: Ukraine. June 2019 in Review

July 2019 – Kinstellar Energy & Natural Resources Digest Ukraine, June in Review
ELECTRICITY: New energy market in Ukraine is launched as scheduled
The new energy market began operation on 1 July 2019, despite previous discussions...

Spotlight on Uzbekistan: Kinstellar's regular look at the Uzbek market

July 2019 – Kinstellar's regular look at the Uzbek market.
Statutory minimum wage index and basic rated value instead of minimum wage
In accordance with the Presidential Decree No. UP-5723, from 1 October 2019 the minimum wage will be...

Non-profit Organisations in Slovakia must report details of their statutory bodies

June 2019 – In accordance with Act No. 346/2018 on the Register of Non-Governmental Non-Profit Organisations (the “Act”), a new public register of non-governmental non-profit organisations has been established in Slovakia. As outlined below, the...