Due to the challenges of martial law and the continued need to adapt labour rules to the modern needs of businesses and employees in Ukraine, Ukrainian labour law is undergoing comprehensive reform. The first part of the reform was implemented in March 2022 with the adoption of the Law of Ukraine “On the Organisation of Employment Relations During Martial Law”, key peculiarities of which we analysed earlier. Ukraine’s parliament recently proceeded with the reform of labour legislation by adopting the Law of Ukraine “On Introduction of Amendments to Certain Laws of Ukraine on the Optimisation of Employment Relations”. This law, which became effective on 19 July 2022, includes (1) amendments to the Labour Code
Kinstellar is delighted to announce the promotion to Managing Associate of Andrijana Kaštelan, Vedran Kopilović and Marija Vuchetich in our Zagreb office. With these promotions the firm acknowledges their dedication, teamwork, consistent high level of client service, legal knowledge and transactional expertise. Andrijana Kaštelan focuses on commercial real estate. She has extensive experience in the acquisition, development, leasing and disposal of commercial real estate, including retail, logistics, leisure, and office properties. Andrijana also advises clients on M&A transactions, projects, and joint ventures, particularly in the hospitality, retail and energy sectors. In addition, Andrijana
Kinstellar and Gen Temizer Özer are delighted to have supported Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş., the second-largest gas distributor in Turkey and publicly listed on the Istanbul stock exchange, and Torunlar Enerji Sanayi ve Ticaret A.Ş., a Turkish investment holding company and the majority owner of Başkentgaz, on the acquisition of a 50% stake in AKCEZ Enerji A.Ş. (AKCEZ) from ČEZ Group, which following final closure of the deal will exit its existing joint venture with Akkök Group. The transaction is subject to, inter alia, approval by the Turkish antitrust authority and local energy regulator. AKCEZ—a joint venture of ČEZ Group and the Akkök Group—owns the
July 2022 – Kinstellar has successfully advised Yoummday, a Munich-based start-up offering job opportunities for a new generation workers via a work-at-home operating system, on the acquisition of ICON Communications Centres. ICON Communication Centres is a multilingual BPO and call centre specialising in inside sales and account management customer experiences for B2B and B2C brands. ICON’s solutions harness a combination of cutting-edge technology and A-player human resource management to deliver high-touch, high-value customer interactions in 30 languages at a native level. Kinstellar advised Yoummday throughout the entire transaction, including on the due diligence process, negotiation of transaction documents and advice
Kinstellar is honoured and delighted to have contributed, as exclusive authors, to the Czech, Hungarian and Kazakhstan sections of the Clean Energy Tool launched by international law firm Simmons & Simmons. The Clean Energy Tool provides reliable, consistent and easy-to-manage information to support investments in clean energy projects around the world. It gives investors online access to important legal and regulatory information concerning renewable energy projects. The tool is constantly expanding and already covers 44 jurisdictions. Information is developed in collaboration with premiere local counsel selected by Simmons & Simmons from across Africa, Asia, Europe, Latin America, Australia and the Middle East.
An intense effort to agree on unified directly applicable European rules for digital services is finally yielding results. On 5 July 2022, almost two years after their introduction by the European Commission, the European Parliament adopted in the first reading the Digital Services Act (DSA) and Digital Markets Act (DMA), following an earlier deal reached between the Parliament and the Council of the European Union on 23 April and 24 March 2022, respectively. Both the DSA and DMA are landmark rules with the potential to fundamentally change the way digital services are provided within the European Union (EU). In this installment, we look at the DSA, which updates the rules for online intermediary liability 20 years on from
Today’s uncertainties at the European Union’s eastern border have left companies questioning the safety of their people and the continuity of their operations in that part of the world. Businesses in the IT and BPO sectors that had found talent and growth opportunities in countries such as Ukraine or Moldova are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Zagreb has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Croatia. Download in English: Download in Ukrainian:
In the context of a looming post-COVID-19 financial crisis, exacerbated by the Russian intervention in Ukraine, soaring energy and fuel prices, and rapidly rising inflation, the Romanian government has recently adopted Government Emergency Ordinance 84/2022 on combating speculative actions and amending and supplementing certain normative acts (the “GEO”). The GEO was published in the Official Gazette on 20 June 2022 and will enter into force fully in 30 days from publication. The GEO amends Law no. 11/1991 on unfair competition (the “Unfair Competition Law”) and introduces major changes to the legal framework of unfair competition rules in Romania. The GEO provides for, inter alia, sanctions for speculative actions
The rapid growth of online shopping as a result of the COVID-19 pandemic has led to an increased demand for different payment options for consumers at the checkout. One such option that is increasingly popular with consumers is the “buy now, pay later” (“BNPL”) solution. The hot trend in consumer credit BNPL allows consumers to defer the payment of the product and repay the purchase price in several instalments over a certain period of time, usually at no interest. BNPL is also a palatable option for merchants, as it gives them another avenue to generate sales by providing consumers an accessible opportunity to acquire products on credit. Such manageable payment options are also likely to strengthen consumer
Bulgarian law requires that the directors of Bulgarian joint-stock companies perform their functions as directors by adhering to the “duty of care” standard of a prudent businessperson and always in the interest of the company and its shareholders. If a director fails to comply, they could be held liable for any damages caused to the company. The required duty of care standard is not easily reconciled with the current shift in corporate governance towards compliance with material ESG factors. While important for all stakeholders (e.g., employees, customers, vendors, and the communities where the company operates), ESG compliance could trigger additional financial costs and potentially be an obstacle to maximising profits.
Kinstellar is delighted to announce the promotion of Mert Elçin to Counsel in our Istanbul office. Mert has more than 10 years of experience in corporate, M&A and banking and finance transactions as well as regulatory matters and has represented clients from a wide range of sectors, in particular banks, brokers, insurers, asset managers, investment funds and other market participants from the financial services industry, venture capital firms, founders, angel and private equity investors, and companies focusing on life sciences and healthcare, technology, media and telecommunications, retail and manufacturing. He is also experienced handling international arbitration. Mert joined Kinstellar in 2019 as
We are excited to announce that Kinstellar has started to provide pro bono legal services to Soborna Ukraine, a public charity established by Ukrainian entrepreneurs after the Russian invasion of Ukraine. Sharing the mission and values of Soborna Ukraine, Kinstellar is advising the organisation on key aspects of implementing their programmes in Ukraine as they manage critical projects close to the front line. This is just the beginning of our long-term partnership to join efforts and help Ukraine. Our pro bono team in Ukraine is managed by Partners Illya Sverdlov and Alla Kozachenko and includes Anna Vizniak, Senior Associate, and Tetiana Kostiuk, Junior Associate. Soborna Ukraine — a US non-profit organisation