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Ukraine Announces Concession Tenders for the Kherson and Olvia Seaports

September 2019 – Ukraine’s Ministry of Infrastructure has announced pilot tenders for the Kherson and Olvia seaports on the Black Sea. The first tender notification was published in the Uriadovyi Kurier newspaper on 12 September 2019 and opens the...

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

September 2019 – Kinstellar's regular look at the Uzbek market.
New Law on Tourism
On 18 July 2019, the President of Uzbekistan signed a new Law on Tourism. The previous law dates from 1999 and has 22 articles. The new Law contains 45...

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...

Kinstellar advises Genesis Capital on the acquisition of Hungarian entertainment centres

September 2019 – Kinstellar has successfully advised Genesis Private Equity Fund III (GPEF III) on its acquisition of a majority stake in the Hungarian 11 Entertainment group. The group operates indoor amusement parks in Hungary, including trampoline...

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...

Kinstellar teams up with partner law firm in Istanbul, Turkey

September 2019 – We are pleased to announce that Kinstellar has teamed up with the Turkish law firm Gen & Temizer │Özer (GTO) to enhance our ability to meet client needs in Turkey.
The firm and the team
GTO is a full-service corporate...

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...