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News October 2021

Kinstellar strengthens its Compliance, Risk and Sensitive Investigation service line in Hungary

Kinstellar is delighted to announce that senior compliance expert Mária Dárdai has joined the firm’s Budapest office as Special Counsel. Her addition to the firm strengthens our expertise in the compliance area, particularly relating to whistleblowing projects, sensitive investigations and compliance matters. Mária has significant expertise and an established track record handling a wide array of compliance cases and sensitive investigations across various industries in Hungary and abroad. She also has experience establishing compliance management and whistleblowing systems and platforms, including training. Prior to joining Kinstellar, Mária was general counsel and compliance officer at various large corporations

Insights March 2020

A new level of cyber fraud - keeping an eye on your money

An e-mail arrives from a long-term business partner’s e-mail address, informing of a change to their billing account number. The email appears to match familiar identifiers, such as the name, domain name, company name, etc. But, in reality, this address was established in another country by a “shell” company seeking to stealthily divert a legitimate payment to a bogus account. Such are the means by which companies can lose millions to scammers. Increasingly, tech-savvy criminals are using artificial intelligence-based software to imitate voices over the telephone, and even to make scam video calls using so-called “deepfake” technologies. Time to be even more careful with your money… In 2018, the Czech Republic

News November 2019

Kinstellar is ranked in GIR 100 among the world's top corporate investigation law firms for the third consecutive year

Kinstellar is honoured to be included in the 2019 edition of the GIR 100 — an annual guide to the world’s leading law firms for corporate investigations. This is the third consecutive year that Kinstellar is ranked among the top-100 firms worldwide capable of handling sophisticated cross-border government-led and internal investigations, and we are proud to be the only independent, CEE-based law firm acknowledged as a leader in the field by this internationally recognised, high-profile publication. Published by Global Investigations Review and independently compiled and written by GIR editorial staff, the GIR 100 is a guide to the world’s leading firms for cross-border corporate investigations. Each firm is included

Deals October 2018

Kinstellar advises on the sale of global IT company Comparex AG to SoftwareONE, a global technology provider

Kinstellar, together with Linklaters and bpv Hügel, has successfully advised on the sale of Comparex AG, a global IT company, to SoftwareONE, a leading global platform, solutions and services company. The terms of the deal have not been disclosed. Kinstellar advised the seller on the implications of the transaction in Bulgaria, Kazakhstan and Serbia. Kinstellar was represented at the local level by the following teams: for Bulgaria – Dessislava Fessenko, Of Counsel; for Kazakhstan – Joel Benjamin, Partner, with Associate Yerbol Konarbayev; for Serbia – Branislav Marić, Partner, and Managing Associate Dragana Bajić. COMPAREX AG is an IT company with 2,450 employees worldwide at more than 80 locations

News October 2018

Kinstellar ranked among the world's top corporate investigation law firms for the second consecutive year

Kinstellar is honoured to be included in the 2018 edition of the GIR 100 — an annual guide to the world’s leading law firms for corporate investigations. This is the second consecutive year that Kinstellar is ranked among the top-100 firms worldwide capable of handling sophisticated cross-border government-led and internal investigations, and we are proud to be the only independent, CEE-based law firm acknowledged as a leader in the field by this internationally recognised high-profile publication. Published by Global Investigations Review and independently compiled and written by GIR editorial staff, the GIR 100 is the only publication to provide extensive qualitative analysis of the world’s international investigations

News October 2017

Kinstellar holds client seminar on cyber security and computer crime in Bulgaria

On October 25th our Sofia office held a client seminar on cyber security and computer crime in Bulgaria. Our technology expert Dessislava Fessenko, head of the TMT practice in the Sofia office, and the guest speakers gave useful insights into the most common cyber threats that businesses in Bulgaria currently face, potential consequences of cyber incidents, available legal remedies and regulatory requirements, and risk mitigating solutions and management strategies. Guest speakers included a senior computer crime expert at the Bulgarian General Directorate for Combatting Organised Crime, who elaborated on cyber threats and law enforcement policies for addressing them. The seminar aimed at raising awareness among

Insights March 2017

Criminal liability of legal entities in the Czech Republic

One rather interesting topic for companies doing business in the Czech Republic in relation to sanctions is the possibility of having the obligation to publish a judgment. This obligation was introduced into Czech law by Act No. 418/2011 Coll., on the Criminal Liability of Legal Entities (“the Act”), as part of a list of sanctions that can be imposed by a court. The imposition of this sanction is limited to legal entities. The topic should be of interest to businesses as its effects can be deleterious to a company’s reputation. In addition, the legal framework for publishing a judgment has considerable shortcomings. Also worth considering is the enforcement of this sanction and possible imposition of a fine, even repeatedly

Insights March 2017

Kinstellar authors Czech chapter of the “International Comparative Legal Guide: Corporate Investigations 2017’’

Kinstellar is proud to have contributed to the Czech chapter of the “International Comparative Legal Guide: Corporate Investigations 2017” published by Global Legal Group. The chapter - authored by Jitka Logesová, Partner and head of Kinstellar’s firm-wide Compliance, Risk & Sensitive Investigations practice and Kristyna Del Maschio, a Junior Associate in the Prague office - tackles various issues relating to corporate investigations in the Czech Republic, such as the decision to conduct an internal investigation, self-disclosure to and cooperation with enforcement authorities, the investigation process, data collection and privacy issues, and the structure of the investigation report. Follow this link

Insights March 2017

New legislation on fighting corruption in Slovakia (“Anti-Letterbox Act”) increases administrative burden for business dealing with the state

A new law known commonly as the “Anti-Letterbox Act” (the “Act”) came into force in Slovakia on 1 February 2017. The purpose of the Act is, broadly, to increase the transparency of all individuals and entities that do business with the state or state-owned / state-controlled enterprises or who otherwise benefit from public funds or property. These persons or entities are called Public Sector Partners (hereafter “PSP”). The Act aims to tackle the issue of the participation of “letterbox” firms[1] in public tenders and generally in all business activities with state bodies by increasing the standards of disclosure and transparency regarding the ownership and corporate structure of PSPs. Who is a PSP? In

Insights February 2017

Ukraine’s National Agency on Corruption Prevention advances protection of rights of compliance officers

Under the Law of Ukraine No. 1700-VII "On Prevention of Corruption", dated 14 October 2014 (the “Law”), legal entities that meet the below-stated criteria must put into effect an anti-corruption programme and appoint a person in charge of its implementation (the "Compliance Officer"): any public/municipal company or business and companies with a state/municipal share of over 50 percent, with an average number of recorded employees in the referred financial year exceeding 50 and gross revenues derived from sales for such period exceeding UAH 70 million (approximately EUR 2.4 million); and all legal entities (irrespective of the form of their ownership) engaged in public procurement

Insights February 2017

Transparency International 2016 Corruption Perception Index – How are CEE, CIS and the Balkans doing?

Transparency International (“TI”) has recently published its Corruption Perceptions Index (“CPI”) for 2016, which surveys 176 countries and territories. Scores range from 0 (highly corrupt) to 100 (very clean). The index is an imperfect tool, as it measures perceived levels of public sector corruption, but it is widely seen as one of the best benchmarks of the perception of corruption. None of the 176 countries in the index achieved a perfect score of 100 (very clean). In fact, over two thirds of the countries and territories ranked in the 2016 index “fall below the midpoint” of the scale, with the global average score being 43, “indicating endemic corruption in a country’s public sector”, Transparency

Insights January 2017

Non-financial reporting in the fight against corruption and bribery in the Czech Republic

As of 1 January 2017, companies and parent companies of large groups that are public-interest entities and, at the same time, employ on average more than 500 employees in the course of an accounting period, are obliged to publish information in their annual reports regarding environmental, social and employee issues, respect for human rights and the fight against corruption and bribery. The obligation to report on non-financial issues applies to accounting periods that begin in 2017, but does not affect 2016 annual reports. Legal regulation The obligation to publish non-financial information is imposed by the amendment to Act No. 563/1991 Coll., on accounting (the “Amendment”), which implements Directive 2014/95/EU