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Deals August 2023

Kinstellar advises YouGov on the acquisition of GfK's consumer panel business

Kinstellar, in conjunction with DLA Piper, has advised international online research data and analytics technology group YouGov plc on the acquisition of the European Consumer Panel Business of GfK, a German market research firm, for EUR 315 million. Listed on the London Stock Exchange, YouGov has one of the world's largest research networks. Its products and services draw upon a detailed understanding of more than 24+ million registered individuals to deliver accurate, actionable consumer insights. GfK CP compasses over 100,000 households with panels across 16 European countries collecting and providing data on household purchases and insights intо the FMCG sector. The acquisition is subject to customary closing

Deals July 2023

Kinstellar advises Yanolja Cloud on its acquisition of a leading B2B travel solution provider

Kinstellar, together with a lead counsel Watson Farley & Williams, have successfully advised Yanolja Cloud, a leading global provider of AI-based SaaS solutions for the hospitality and leisure industries, on the multi-jurisdictional acquisition of Go Global Travel (GGT), a B2B travel technology company that distributes its inventory of more than one million hotels and other travel products from 200 countries to over 20,000 client partners. The acquisition of GGT from AMI Opportunities Fund will give Yanolja Cloud unparalleled distribution capabilities, making it a one-of-a-kind company and allowing properties of all types, sizes, and budget ranges – and in every corner of the world – to digitize property operations.

Insights July 2023

Class actions to protect collective interests of consumers in Slovakia

The new Act on Actions for the Protection of the Collective Interests of Consumers and on Amendments and Additions to Certain Acts (the "Act") was adopted by the Slovak Parliament on 21 June 2023 and will enter into force on 25 July 2023, with the exception of some special and temporary provisions, which enter into force on the date of the Act’s publication in the Collection of Legislative Acts. The Act, which transposes the Representative Actions Directive (EU) 2020/1828, introduces a new legal proceeding—class actions—into Slovak legislation. The most significant elements of the new Act include: The introduction of two types of actions / proceedings available under the Act: a proceeding

Insights June 2023

Slovakia: Recent changes to the Whistleblower Act

Slovakia currently has an outdated Whistleblower Act (Act No. 54/2019 on the Protection of Persons Who Report Antisocial Activities). The relevant EU Whistleblower Directive (No. 2019/1937 on the Protection of Persons Who Report Breaches of Union Law) has not yet been fully implemented in the act. Consequently, the EU initiated an infringement procedure for non-compliance with EU law, as with several other member states. Thus, Slovakia finally took steps to avoid the procedure. On 10 May 2023 the Slovak parliament passed an amendment to the Whistleblower Act (the Amendment). The Amendment will take effect in two steps, the first on 1 July 2023 and the second on 1 September 2023. The aim of the Amendment is mainly to fully

Deals June 2023

Kinstellar dispute resolution team in Bratislava successfully defends its client in commercial litigation

Kinstellar’s dispute resolution team in Bratislava, led by Michal Hrušovský, has successfully defended its client in commercial litigation before Slovak courts against the “alleged” owner of a receivable. The dispute contained various foreign elements. The claimant asserted that a receivable of the original owner (the client’s former supplier of automotive components) was assigned to it based on an assignment agreement governed by foreign law. Despite the fact that the District Court in Banská Bystrica had issued a payment order, on behalf of the respondent we appealed and sufficiently evidenced to the competent court in subsequent proceedings that the “alleged” assignment was not valid and that the receivable

Insights June 2023

The end of uncertainty caused by an unfortunate court decision? The Slovak parliament confirms the approach in its assessment of close ties in the creditor-debtor relationship 

As part of a package of measures in the field of commercial law, the National Council of the Slovak Republic approved today, 28 June 2023, amendment to Act no. 7/2005 Coll. on Bankruptcy and Restructuring and on Amendments to Certain Acts, which confirms the long-standing treatment of the creditor-debtor relationship in Slovakia in cases of the potential relationship between the debtor and the creditor. Tomáš Melišek and Viliam Myšička, Partners in the Slovak office, have been dealing with the topic of kinship in bankruptcy law for several years and, in cooperation with the Slovak Banking Association and important Slovak banks, have discussed the wording of the relevant provisions of the respective law at several professional

Insights June 2023

“Green Claims” in Bulgaria, Croatia, the Czech Republic, Hungary, Romania, and Slovakia

On 22 March 2023, the European Commission published a proposal for a Directive on Green Claims. The proposed Directive aims to tackle false environmental claims by ensuring that consumers receive reliable, comparable and verifiable environmental information on products and services across the European Union. By laying down clear criteria on how companies should evidence environmental claims, along with mandating an EU labelling scheme and new enforcement procedures to secure compliance, the Directive on Green Claims is designed to enable better environmental decision-making by consumers and to reduce so called “green washing” (spurious environmentally friendly claims). However, it will likely still be some time

Insights June 2023

Slovakia preparing new Consumer Protection Act: Here's what you should know

Companies operating in Slovakia are facing new compliance obligations, as the government has recently proposed a comprehensive consumer protection act (“New Law”) for parliamentary debate. One of the main reasons for introducing the New Law is to transpose the so-called New Deal for Consumers introduced by the European Commission, consisting of three directives—the Omnibus Directive[1], the Sale of Goods Directive[2] and the Digital Content Directive[3]. The New Law is expected to replace existing consumer protection legislation in Slovakia. It aims to strengthen the rights of consumers, providing them with greater protection against unfair business practices, such as deceptive advertising and hidden costs. As a result

Insights June 2023

Proposed new merger rules in Slovakia

The Government of the Slovak Republic has introduced a draft law on the conversions of companies and cooperatives (the Draft Law) that implements EU Directive 2019/2121, amending Directive 2017/1132 with regard to cross-border conversions, mergers and divisions (the Directive). The Draft Law aims to create a unified, comprehensive and clear legal framework for both domestic and cross-border mergers, divisions and changes of legal form, which should completely replace the current legal framework contained in the Slovak Commercial Code. The Draft Law, which is proposed to take effect 1 March 2024, is currently in the early stage of the legislative procedure, and therefore the final wording of the legislation may differ from

Insights May 2023

Reform of the “judicial map” of the Slovak Republic

From 1 June 2023, the so-called reform of the “judicial map” of Slovakia enters into force, which according to its proponents should bring faster and better decision-making by the courts and ensure better working conditions for judges. The basic premise of the reform is the specialisation of judges and courts under five main agendas—family, civil, criminal, commercial, and administrative justice. The reform is intended to increase the efficiency of the administration of justice and will lead to several changes: the dissolution of several existing courts, the creation of new courts, and the transfer of agendas between individual courts. The reform of the “judicial map” consists of two laws: (i) Act no. 150/2022 Coll.

Deals May 2023

Kinstellar together with Winston & Strawn advise Tempo Software on the agreement to acquire Amovos

Kinstellar has recently advised Tempo Software, a leading provider of portfolio management solutions for product development organizations, on the acquisition of Amovos, which operates the Old Street Solutions brand. Old Street Solutions is an Atlassian Marketplace Partner simplifying Jira and Confluence with their popular Custom Charts for Jira and Custom Charts for Confluence apps. The acquisition will expand Tempo’s Atlassian-based product suite providing users with easy-to-use, customizable data visualizations of Jira data, so teams can focus on getting work done quickly, not struggling with complicated corporate reporting tools.  Mark Lorion, CEO at Tempo Software, said: We’re thrilled to welcome Old

News May 2023

Kinstellar announces new promotions to Partner and Counsel

Kinstellar is delighted and proud to announce the promotions to Partner of Tomáš Melišek (Bratislava), Levente Hegedűs (Budapest), Bulut Girgin (Istanbul), Anastasiya Bolkhovitinova, Natalia Kirichenko, Oleg Matiusha, Illya Muchnyk (all in our Kyiv office), and to Counsel of Dominika Bajzáthová (Bratislava). PARTNERS Tomá š Melišek, Bratislava Tomáš is the Head of the local Banking & Finance service line. He has 15 years of experience in banking and finance, focusing on project and acquisition financing as well as on financial regulations. Tomáš has substantial experience advising clients on significant financing transactions in the areas of real estate, energy, infrastructure, automotive, media