Kinstellar to continue the operation of Noerr’s CEE practice
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Kristóf Ferenczi is appointed Firm Managing Partner of Kinstellar

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Insights April 2024

Settlement procedure: Overview for businesses in light of Ukraine's new competition law

Building on established practices, and taking inspiration from the successful experiences of international partners, the Ukrainian competition authority (the Antimonopoly Committee of Ukraine) has introduced a settlement procedure for cartels and abuse of dominance cases. The procedure became effective on 30 January 2024 within the framework of recent competition law reforms. The procedure is designed as a "win-win" enforcement tool that can both simplify and expedite the adoption of cartel or abuse of dominance decisions, and reduce fines by 15%, provided that defendants meet the respective competition authority eligibility requirements. For more details, please see our leaflet covering this topic in English and

Deals April 2024

Kinstellar advises Wizz Air on the lease of its headquarters in Hungary

Kinstellar has successfully advised Wizz Air in connection with the preparation and negotiation of a lease agreement for its new office headquarters in Millennium Tower, Budapest. The deal is one of the largest transactions of its kind on the Hungarian real estate market recently. Our team advised on various legal aspects throughout the transaction, the subject of which is the lease of more than 8,000 sqm in a Class A office building in Budapest. Kinstellar’s team was led by Partner Annamária Csenterics (Co-Head of the Hungarian Corporate/M&A service line) and Of Counsel Mónika Frank (Co-Head of the Hungarian Real Estate service line) and supported by Associate Judit Sós.

Deals April 2024

Kinstellar advises MAVIR and HUPX on joining Central and Southeast Europe’s largest electricity trading hub

Kinstellar has successfully advised the Hungarian Power Exchange (HUPX), together with the Hungarian Transmission System Operator, MAVIR, on the landmark Project Bluesky transaction: the Hungarian Power Exchange, HUPX’s joining Adex, a leading regional power exchange serving Central and South-Eastern Europe (CSEE). This transaction marks a significant milestone in strengthening and expanding the reach of the regional power exchange group within the region. Adex Group Ltd., which includes operators of power exchanges in Slovenia and Serbia, is recognized as the first regional energy exchange. With this transaction, HUPX becomes the third fully-owned subsidiary of Adex Group Ltd. Subject to regulatory approvals from

Insights April 2024

Amendments to the Bulgarian Labour Code

Strengthening the home-office regime and enhancing remote workplace safety As workplaces evolve and remote work remains prevalent, amendments to the Bulgarian Labour Code have been recently adopted to reshape the regulations governing home-office arrangements and remote workplace safety standards. The amendments further address the impact of digitalisation and new technologies on work and aim to improve the work-life balance of employees. Mandatory specification of remote workplace An important change is the explicit requirement to define the exact address of the remote workplace. This is already the case in practice, also in line with the authorities’ guidelines. Better clarity in the law will further help to ensure compliance

Insights April 2024

The International Register of Damage Caused by the Aggression of the Russian Federation against Ukraine is launched

The application process for the International Register of Damage Caused by the Aggression of the Russian Federation against Ukraine (the "Register") has been launched. The launch of the Register marks the next phase of the proposed International Compensation Mechanism, which is intended to be expanded and enhanced. Click on one of the images below or click on the following links to read the alert in English or in Ukrainian. Download in English: Download in Ukrainian:

Deals April 2024

Kinstellar advises UEG on the acquisition of a solar project in Bulgaria with a forecasted capacity of 250 MW

April 2023 – Kinstellar has supported United Energy Group (UEG)’s internal legal team, Leslie Zhang, Yu Zheng, Yao Liu and other UEG in-house counsels, on the acquisition of Green Profit EOOD, a developer of a photovoltaic (PV) project under construction. The Simeonovgrad-Polyanovo PV project, located in southern Bulgaria, has a forecasted capacity of 250 MW. Kinstellar led and negotiated the entire transaction, including the share purchase agreement and other transaction documents. UEG is a Hong Kong-based producer of traditional and renewable energy that has recently expanded its presence in the European energy market. The multi-disciplinary team that advised UEG was led by Nina Tsifudina (Partner) and Atanas Mihaylov (Counsel)

News April 2024

Kinstellar to continue the operation of Noerr’s CEE practice in the Czech Republic, Hungary, Romania & Slovakia

Noerr and Kinstellar are very pleased to announce that Noerr’s practices in Budapest, Bratislava, Bucharest and Prague are to be transferred to Kinstellar. Noerr and Kinstellar have agreed to transfer these practices after the details of the integration are fully worked out. Several important operational and technical aspects, including investments in IT systems, leasehold premises are being worked out and the deal will complete after all necessary regulatory consents and internal approvals have been obtained.  Noerr delivers the highest level of service to its clients. For many years, the law firm has successfully pursued a strategy of qualitative growth. Noerr has operated offices in CEE since 1990 and is very proud of the accomplishments

Deals March 2024

Kinstellar facilitates Araltuz's expansion in Kazakhstan: A landmark English Law transaction 

Kinstellar is thrilled to announce our firm's leading role in facilitating a significant transaction whereby the European Bank for Reconstruction and Development (EBRD) has made an investment in Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia. Led by our outstanding team, including Joel Benjamin, Managing Partner for Central Asia, Kuanysh Shekerbekov, Counsel in Kazakhstan, and Bianka Kovács, Associate in our Budapest office, we provided expert counsel on this ground-breaking transaction governed by English law. Our collaborative effort, supported by Almas Zhaiylgan, Counsel in Kazakhstan, and other colleagues, demonstrated our firm's cross-border capabilities and deep

Insights March 2024

Improved leniency policy: Overview for businesses in light of Ukraine's new competition law

A leniency procedure has been in place in Ukraine for many years. However, available data suggests it has been severely underutilised. A recent first stage of competition law reforms in Ukraine introduced, among other things, an improved leniency policy. The changes, implemented in February 2024, are aimed at aligning the respective local regulations more closely with EU laws. The most noteworthy changes include: in addition to full immunity for a first applicant, the programme offers a reduction in fines for other cartel participants applying for leniency; the possibility to conduct anonymous preliminary consultations with the regulator; a detailed procedure for obtaining a marker.

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 300 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

📢 🇺🇦 Delve deeper into the competition law reform in #Ukraine with our latest publication – the third in our series! 🌐 This latest edition covers newly implemented settlement procedures for cartels and abuse of dominance cases. 🤝 Discover how businesses can navigate procedures to expedite investigations and reduce fines ⚖️ Find out when settlement is possible 💼 Learn about the procedural stages and essential terms of a settlement agreement   👉 Don't miss out on the essential information from our #Competition team in Ukraine – Partner Olexander Martinenko, Counsel Yulia Eismont and Associate Olena Tsygulska. 🔗 https://lnkd.in/ds2SsgKz #intheknow #CompetitionLaw #SettlementProcedures #LegalInsights #BusinessCompliance #UkraineLegalUpdate

📢 🇸🇰 On the occasion of the recent World Health Day, our #Bratislava team gathered at the RETRO Sport & Wellness Centre, where 10 teams competed in the second edition of the Stellar Cup mixed-doubles #badminton tournament. Non-players cheered for their colleagues and everyone enjoyed some healthy snacks. Congratulations to the winners 💪🏼🏆 and thanks to everyone for coming and making the night fun and enjoyable! We are already looking forward to next year 😊. #exceptionaltogether

🇭🇺 🏢 Our team in #Hungary has successfully advised Wizz Air ✈️ on the preparation and negotiation of a #lease agreement for its new office headquarters in Millennium Tower, a Class A office building in #Budapest. 👉 With over 8,000 sqm leased, this deal stands out as one of the largest in Hungary's real estate market this year. 🎉   🌟 The Budapest team was led by Partner Annamaria Csenterics (Co-Head of the local Corporate/M&A service line) and Of Counsel Monika Frank (Co-Head of the local Real Estate service line), and supported by Associate Judit Sos. 🔗 https://lnkd.in/gagMwEgv #donedeals #RealEstate #LeaseTransactions

📢 Zuzana Konečná will be attending the prestigious IBA European Fashion and Luxury Law Conference in 📍 Milan, on 🗓 April 22nd-23rd, 2024. This conference brings together leading experts and professionals from the #fashion and luxury sectors to discuss the latest trends, legal challenges, and innovative solutions shaping the industry.   🌟 This is a great opportunity for us to connect, exchange ideas, and explore potential collaborations. We look forward to engaging in meaningful discussions and gaining insights that will drive our industry forward.   👉🏻 If you're attending, we'd love to meet you! Drop us a message here or reach out directly to schedule a meeting.   #IBALawConference #FashionLaw #LuxuryLaw #NetworkingEvent #MeetUs

Thrilled to share that our Senior Associate, Aleksandra Stećuk, represented Kinstellar with distinction as a panellist on 'How to Buy and Sell Health and Pharma Businesses?' at the HealthPharm 2024 SEE Forum & Fair / Business, Legal, Tech & Life Science conference!

📢 🇭🇺 Honored to have successfully advised the #Hungarian Power Exchange (#HUPX), together with the Hungarian Transmission System Operator, #MAVIR, on the #landmark Project Bluesky transaction: the Hungarian Power Exchange, HUPX’s joining #Adex, a leading regional power exchange serving Central and South-Eastern Europe. ⚡ This transaction marks a significant milestone in strengthening and expanding the reach of the regional power exchange group within the region. Adex Group Ltd., which includes operators of power exchanges in Slovenia and Serbia, is recognized as the first regional energy exchange. With this transaction, HUPX becomes the third fully-owned subsidiary of Adex Group Ltd. 🤝 💼 👉 Subject to regulatory approvals from relevant authorities, the launch of the expanded group is anticipated in the second half of 2024. 💡 Kinstellar provided MAVIR, HUPX's parent company, with comprehensive transactional advice, including negotiation and contract preparation, while also addressing competition and energy law aspects in this multifaceted cross-border transaction. 🌟 The Kinstellar team was led by Partner Gábor Gelencsér, with the support of Péter Vörös, Partner (#competition law); Gullai Péter, Managing Associate (#energy); Aron Barta, Senior Associate (M&A) and Orsolya Staniszewski, Associate (competition law). 👏 🔗 https://lnkd.in/dsWDWhfq #donedeals #EnergyExchange #CrossBorderTransaction #LegalAdvisory #CentralEurope #SoutheasternEurope #PowerSector #EnergyMarket 

🇧🇬 📃 Recent amendments to the #Bulgarian #Labour Code have reshaped the regulations governing home-office arrangements and remote workplace safety standards. To ensure compliance and the well-being of remote workers, employers should adapt their practices and documentation to the evolving legal landscape. 💻 Nina Tsifudina, Partner in #Sofia and firm-wide co-head of the #Employment service line, and Anita Borisova, PhD, CIPP/E Attorney-at-law, Managing Associate in Sofia, have summarised the amendments to the Bulgarian Labour Code.   Read below 👇   #intheknow #legalupdate #employment #remotework

📝 🇺🇦 The International Register of Damage Caused by the Russian Aggression Against #Ukraine is now operating. 🌍 On 2 April 2024, the application process officially began, offering a platform for documenting claims for compensation due to the Russian aggression. 💼 Our overview below tackles 👇: What are the eligibility criteria? 📋 Who can apply today and how? 🤔 What are the next components of the International Compensation Mechanism? 🔄 🔗 https://lnkd.in/d4EbiKQq Feel free to contact the authors, Olexander Martinenko, Partner, and Danylo Volkovetskyi, Managing Associate, for more information. 📞 #intheknow #LegalInsight #CompensationMechanism #InternationalRelations #Ukraine #RussianAggression #LegalAlert #LegalNews

📢 🇸🇰 Delighted and proud to announce a new series of promotions in our Bratislava office.   🌟 Our congratulations go to new Managing Associates Dáša Labašová and Michal Hrušovský and new Senior Associates Livia Miklenčičová and Erik Neupaver. Furthermore, Barbora Bláhová has been promoted to the Associate level.   The firm acknowledges their #legal knowledge, teamwork and commitment to delivering exceptional value to our clients.   Congratulations and best of luck! 🍀  #exceptionaltogether