Statement on our policy to work for ‘Russian clients’

We remain shocked by and deeply condemn the Russian military aggression in Ukraine and the resulting war and human suffering. One of our largest offices is in Kyiv and our thoughts are with our colleagues, their families, and the Ukrainian people.

We continue standing with the people of Ukraine and are united with those in governments and the business community calling for an immediate cessation of the acts of war, a withdrawal of Russian forces from Ukraine and the restoration of peace with no further delay.

We support the efforts for peace through international sanctions and informal boycotts to bring pressure to bear on the Russian authorities to cease the aggression and stop the war in Ukraine.

We ensure compliance with applicable local, EU, UK and US sanctions regimes and will not work for Russian clients falling within the remits of such sanctions.

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news, deals & insights

Insights May 2022

Ukraine introduces a new type of sanction

Since the outbreak of the war in Ukraine, there has been a plethora of new legislation establishing mechanisms for an adequate political and legal response to Russian aggression against Ukraine. Another such mechanism was introduced on 13 May 2022, when the Parliament of Ukraine adopted a new law amending the existing sanctions legislation. The law enacts a new type of sanction amounting to the foreclosure of assets in the state's favour. This new sanction is now applicable to both companies and individuals that cause significant damage to the national security of Ukraine. The law came into force on 24 May 2022. Below we provide important highlights and the main points to consider regarding the new type of sanction

Insights May 2022

Uzbekistan liberalizes regulatory framework for mining of crypto-assets

On 27 April 2022, the President of Uzbekistan signed decree No. UP-121 (the “Decree”), which (i) reorganized the National Agency for Project Management into the National Agency of Perspective Projects (the “Agency”) and authorizing it to regulate circulation of crypto-assets in Uzbekistan (covering issuance, registration, and circulation of crypto-assets by residents of Uzbekistan), and (ii) established a special regulatory regime in the sphere of crypto-asset circulation. According to the Decree, only legal entities are entitled to engage in mining[1] of crypto-assets[2] in Uzbekistan, following compulsory e-registration with the Agency. Mining of crypto-assets does not require obtaining a license. The Decree

News May 2022

Kinstellar takes part in the ‘Brave Ukraine’ fundraising event organised by the Ukrainian Embassy in London

Kinstellar is honoured to have taken part in the ‘Brave Ukraine’ event organised by the Ukrainian Embassy in London on 12 May 2022. We were represented by Jason Mogg, Senior Partner, and Daniel Bilak, Chairman of the Management Committee of the firm’s Ukraine office.  Thanks to generous donations, the event raised desperately needed funds to re-equip the Western Ukrainian Specialised Children's Medical Centre, which has become a hub for seriously ill children from across Ukraine displaced by the war. Through the fundraising platform www.withukraine.org established by the Embassy of Ukraine in the UK, almost £30 million have been raised to provide food packs, medical supplies, generators, armoured ambulances

Insights May 2022

Kinstellar’s Banking & Finance team in Budapest contributes to ICLG Project Finance 2022

Kinstellar’s Banking & Finance team in Budapest is honoured to have had the opportunity to contribute the chapter on Hungary to this year’s International Comparative Legal Guide to Project Finance.  The Q&A-style chapter provides an overview of the main legislative considerations—including security, bankruptcy, restrictions, insurance and arbitration—that should be taken into account by lenders and equity investors when participating in project finance transactions in Hungary.  We also address the trends and recent developments in project finance in the country.  You can read our chapter, coordinated by Csilla Andrékó, Partner, Budapest and Head of the firm-wide Banking & Finance and Restructuring

Insights May 2022

5G auctions

As the process of 5G coverage expansion continues, we bring you a short status update on 5G auctions and 5G rollout in the Central and Eastern Europe and Central Asia regions. Kazakhstan Frequency already allocated: 3.5 GHz. Announced / expected 5G auctions: Three lots each for 100 MHz around 3.5 GHz will be sold at auctions that are planned for the end of May 2022. One lot per city—Almaty, Nur-Sultan and Shymkent—will be offered. Stage of 5G auctions and auction method: The relevant law and regulations for holding auctions have been adopted. Auctions will be held in two stages. At the first stage the bidders' compliance with qualification requirements

Insights May 2022

Transposition of New Deal for Consumers (Omnibus Directive, SGD, DCD)

Nearly a year has passed since the lapse of the transposition period for the Digital Content Directive and the Sale of Goods Directive, which brought important changes to national consumer protection rules. However, many jurisdictions still have not implemented the Directives. We are closely monitoring the implementation process in our EU jurisdictions. Below is an overview of the implementation status of the Directives in the remaining EU Member States where Kinstellar operates that have not yet implemented the Directivesand a brief summary of the main changes and the expected country-specific implications for business. In addition, we bring you information from several non-EU countries that have taken inspiration from the

Insights May 2022

Cookies

With France and Austria deciding on data protection issues in relation to Google Analytics, many more countries have followed suit in relevant changes to so-called web browser cookies. In order to limit the amount and quality of data retrieved by providers from users, mainly without them realising the true scope of this data and the use of such data by providers, legislators are passing stricter rules on data collection. Below is an overview of new legislation adopted to combat the extensive collection and usage of user data: Bulgaria The current legislative environment provides a more relaxed opt-out model of user consent regarding the use of cookies.

Insights May 2022

Misinformation in cyberspace

Since the war in Ukraine became the main subject of newspaper headlines, the amount of related misinformation spread online has reached new heights. As a result, several governments have adopted legislation that provides tools to combat the spread of misinformation.  Below is an overview of legislation used to combat misinformation in the Central and Eastern Europe and Central Asia regions: Bulgaria It is worth noting that on 1 March 2022 the Bulgarian electronic media watchdog decided to suspend the distribution of TV channels “Russia Today” and “Sputnik” in line with the EU response to Russian military activity in Ukraine.

Insights May 2022

Cybersecurity in Emerging Europe and Central Asia

With the invasion of Ukraine and a substantial increase in cyberattacks on governments, critical infrastructure and other strategic targets, the topic of cybersecurity has gained even more importance. Below is an overview of the steps that national security authorities have taken to strengthen national security. Bulgaria On 24 November 2021, the Bulgarian government designated the State e-Government Agency as a national coordination centre for the purposes of Regulation (EU) 2021/887. The establishment of the coordination centre is expected to contribute to achieving a high level of network and information security, thus boosting the standards and

about us

Kinstellar acts as trusted legal counsel to leading investors across Emerging Europe and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.

With offices in eleven jurisdictions and over 350 local and international lawyers, we deliver consistent, joined-up legal advice and assistance across diverse regional markets – together with the know-how and experience to champion your interests while minimising exposure to risk.

Our clients include leading international and regional corporations, banks and other financial institutions, state bodies, multi-lateral institutions, and international law firms with clients that require top-quality legal counsel in our jurisdictions. We handle the most important and complex assignments for clients across diverse industries and business sectors.

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With expert local knowledge and a track record at the international level, our lawyers provide top-tier advice and client service in Emerging Europe and Central Asia.

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newsfeed

🇺🇦 Child support has always been one of Kinstellar’s priorities. Now—as never before—this is on the top of the agenda of our #Community #Investment Programme, and today we are honoured to join forces with the #Ukrainian #charity foundation Children of Heroes («Діти Героїв»).   💙 💛 Children of Heroes takes care of children left without parents as a result of the war in #Ukraine. We are pleased to have donated UAH 200,000 to the foundation—funds raised by our colleagues in the #Kyiv office and our long-standing partners, as well as from our #CIP budget. The donation will support the foundation’s main activities: emergency care (food, housing, clothing, psychological support) and long-term support (high-quality education, development, mentoring, assistance with adoption). The financial aid comes on top of the EUR 25,000 that Kinstellar donated towards #humanitarian aid to Ukraine through the charitable foundation ”Phoenix Wings”, the International Red Cross and the Ukrainian Association of Women Lawyers “JurFem”, within the framework of its #Community Investment Programme. 🙏 We thank the Children of Heroes foundation for their efforts and cooperation and for making this world a better place for kids in #Ukraine! Read more on the organisation 👇🏼 https://lnkd.in/g_rJuSTT #exceptionaltogether #standwithukraine #supportingkids #helpinghand #communityinvestment

Charity Foundation “Children of Heroes”

📣 Let’s Give Children a Chance   👏 DEJME DĚTEM ŠANCI o.p.s. (LET’S GIVE CHILDREN A CHANCE)—a non-profit organisation in the Czech Republic that provides comprehensive help for children and young people from children’s homes, especially in the final years of their stay in a children’s home, during the period of their leaving, and at the start of their individual adult lives—recently organised a charity event dedicated to the book Do You Know Their Stories? and their supporting partners.   🌟We are a proud supporter of DEJME DĚTEM ŠANCI and happy to be part of it.   It feels good to make the world a better place! #wecare #exceptionaltogether   https://lnkd.in/eCARJvaM https://lnkd.in/ezrrJhdu

Dejme dětem šanci added a new photo. - Dejme dětem šanci

🇺🇦 🎙️ Daniel Bilak, Chairman of the Management Committee of the firm’s #Ukraine office, speaks with CBC News and shares his views on the recent developments in #Ukraine.   A #Canada-qualified lawyer who has been living and working in Ukraine for the last 20 years, Daniel is a member of the Kyiv’s Territorial Defence Forces today. He previously served as the chief investment advisor to the Prime Minister of Ukraine and headed UkraineInvest, the Ukrainian government’s investment promotion agency.   📺 Watch here 👇🏻 https://lnkd.in/d-rgf7-G   #standwithukraine #peaceforukraine

📢 Meet us online! Kamil Blazek, a Kinstellar partner based in the Prague office specialising in foreign investment, will participate in the online #event: Identifying Optimum #Logistics and #Manufacturing Locations in a Disrupted World. The event is organised by CTP and will be held on 📅 19 May from ⏰ 4:30 pm EDT. ➡️ Kamil will speak about what is happening to the volume and nature of #investors coming to the region after the start of the war in Ukraine: What changes has he witnessed? What are the mid- to long-term prospects for CEE? What opportunities and threats does he sees for the region?   Other speakers include: ➡️ Rob Hall, International Partner Global Occupier Services, Cushman & Wakefield ➡️ Henri Viswat, CEO of Randstad Poland 🎤 The discussion will be moderated by the  Head of Research, CTP, Bert Hesselink.   👉🏻 More about the event: https://lnkd.in/d5yNpfnN   #intheknow #thoughtleaders #events #leadinglawfirm #leadinglawyers #investment #cee

📢 🇺🇦 The war in Ukraine is being felt across many industries, and the virtual assets market is no exception. In order to prevent a negative outflow of capital, the National Bank of Ukraine has indirectly prohibited the purchase of #cryptocurrencies and other virtual assets using bank accounts denominated in Ukrainian hryvnia.   📝 Illya Muchnyk, Counsel, and Dmytro Pshenychniuk, Counsel, have prepared practical comments on the so-called “quasi cash” transactions. 👇🏻 To read the full overview, please follow the link: 🔗 https://lnkd.in/dANv76jn #virtualassets #quasicash #exceptionaltogether #leadinglawyers #intheknow

National Bank of Ukraine imposes restrictions on the purchase of…

📢 🇭🇺 Let’s meet at the #Hungarian Legal Job Fair!   💬 A few colleagues of our #Budapest office are currently at #ELTE Faculty of Law to say hi and answer all of your questions on how to become an excellent lawyer at Kinstellar.   💡 Come to the C1 booth next to the stairs and get to know us.   #exceptionaltogether #jobfair #joinus #leadinglawyersHungary

📢 🇷🇸 Congratulations to our #outstanding #Serbian team for being recognised in the #2022 edition of The Legal 500 (Legalease) 🏆 for our #strength in #Banking & #Finance, #Commercial, #Corporate M&A and #Projects & #Energy. ✨ Congratulations to Partners Branislav Maric (#Commercial, #Corporate M&A) and Petar Kojdic (#Banking & #Finance) for being singled out among the #leading #lawyers in the country. We thank our clients for their trust and support and our exceptional team in #Serbia for the hard work, commitment, talent and energy they show every day! 🙏 #exceptionaltogether #leadinglawfirmSerbia #leadinglawyersSerbia #intheknow #donedeals #recognition  #legaldirectories

📢 🇧🇬 Join our legal #internship programme in #Sofia!   If you: ✔️ are currently a #law student; ✔️ have excellent communication skills in both English & Bulgarian; ✔️ are detail-oriented; ✔️ are proactive and have eagerness to #learn; ✔️ are a #teamplayer with a passion for #excellence; ✔️ are highly organised.   📧 #Apply here by 15 May 2022 🔗 https://lnkd.in/dqiS8p_f   #exceptionaltogether #internship #joinus #wehire #leadinglawyersBulgaria

Summer legal internship program - Sofia (Detail) - Kinstellar

📢 🇰🇿 Congratulations to our #exceptional team in #Kazakhstan for the outstanding results in the #2022 edition of The Legal 500 (Legalease)! 🏆 We are ranked in Tier 1 in five practice areas: #Banking, #Finance & Capital Markets, #Commercial, #Corporate, M&A, #Dispute Resolution, #Energy & Natural Resources, #IP & #TMT and are highly recognised for Real Estate & #Construction. ✨ Congratulations to Partners Joel B. Benjamin (#Banking, #Finance & Capital Markets, #Energy & Natural Resources), Adlet Yerkinbayev (#Commercial, #Corporate, M&A), Mukhit Yeleuov (#Dispute Resolutions), Counsel Pavel Kornilov (#Banking, #Finance & Capital Markets), ranked as Leading Individuals in their areas of #law, and ⭐ Rising Stars Dina Berkaliyeva (#Dispute Resolution), Yerlan Akhmetov (#Banking, #Finance & Capital Markets) and Kuanysh Shekerbekov (#Commercial, #Corporate, M&A)! 👏 💬 Clients effuse: ‘'Kinstellar offers a first-rate, full-service corporate offering in the Kazakh and Uzbek markets. Their market #knowledge and contacts are second to none. They offer a partner-led service offering, supported by very capable associates and support staff. The handle top-rate #international and domestic matters and you will regularly find them mandated on the largest deals. They provide very in-depth #knowledge of local law and market conditions’'. #exceptionaltogether #leadinglawfirmKazakhstan #leadinglawyersKazakhstan #centralasia #intheknow #donedeals #recognition #legaldirectories