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News January 2025

Important notice to our Clients and Contacts: Beware of impersonation emails

6 January 2025 – It has come to our attention that some companies in our countries (most recently from the Czech Republic, Hungary, and Slovakia) have received unauthorised fraudulent emails falsely claiming to originate from Kinstellar. This appears to be part of an illegal scam (fraudulent impersonation) campaign. We assure you that these fraudulent emails did not come from our official Kinstellar domain and have nothing to do with our Firm. Our IT and Risk & Compliance teams are giving this matter their highest priority and are actively investigating the issue. We are bringing this matter to the relevant authorities. Importantly, this illegal scam campaign appears to have been

Deals March 2025

Kinstellar advises DSV on the sale and leaseback of a major logistics park in Slovakia

Kinstellar recently advised DSV, a global leader in freight forwarding, on the sale and leaseback of its newly constructed logistics park in Senec, Slovakia. The logistics park was acquired by REICO LONG LEASE, an open-ended real estate mutual fund managed by REICO investiční společnost Erste Asset Management. The property's location in a prime Slovak logistics sub-market, with exceptional connectivity to major European markets, enhances its strategic value. This innovative logistics facility spans approximately 69,600 sqm of gross leasable area and features a robust Environmental, Social, and Governance (ESG) profile. The park is distinguished not only by its size and location but also by its commitment to sustainability.

Deals March 2025

Kinstellar advises private investment group EMMA Capital on the strategic acquisition of Diamedix in Romania, Moldova, Bulgaria, and Ukraine

Kinstellar is pleased to announce that it has advised EMMA Capital Group, a private investment group, on its acquisition of Diamedix, one of Romania's largest independent medical equipment distributors. The deal, closed through EMMA Capital's subsidiary Emma Zeta, marks a significant expansion of the group's footprint in the medical technology and diagnostics sector across South-eastern Europe. The transaction includes the acquisition of Diamedix Impex, along with its five subsidiaries operating in Romania, Moldova, Bulgaria, and Ukraine. Kinstellar provided comprehensive legal support on all aspects of the transaction, including due diligence review, guidance on structuring/closing, foreign direct investment (FDI)

Insights March 2025

Interactive entertainment & gaming

Our lawyers understood early on that interactive entertainment has been one of the fastest growing industries in the Central & Eastern Europe, Southern Balkans and Central Asia. Looking back at the history and global impact of the local game development industry, the region has produced some of the world's most famous games. That is why we have been at the forefront of legal advice in this industry from the very beginning, working on complex projects, negotiating significant deals and being part of the local ecosystem. Kinstellar's Interactive Entertainment practice is a cross-jurisdictional team with deep knowledge of the industry. With expert local knowledge and a track record at the international level

Insights March 2025

Repeal of the Commercial Code of Ukraine: Analysis of Law No. 6013 and its implications for the country’s legal system

The adoption by the Verkhovna Rada of Law of Ukraine No. 6013 "On the Peculiarities of the Regulation of Entrepreneurial Activity by Certain Types of Legal Entities and Their Associations in the Transition Period" (the "Law") represents a fundamental reform of private law in Ukraine. The Law not only repeals the Commercial Code of Ukraine (the "Commercial Code"), which had been in force since 2004, but also initiates a fundamental restructuring of the system of the legal regulation of economic relations in the country. Any analysis of the key aspects of the reform needs to take into account both its legal implications and practical challenges for business entities, especially in the context of harmonization

Deals March 2025

Kinstellar secures major victory before the Romanian Supreme Court of Justice

Kinstellar Romania is pleased to announce the successful representation of a leading provider of cash payment services in Romania in a dispute recently finalized before the Romanian Supreme Court of Justice. This legally complex litigation stemmed from a high-value damage claim initiated by a former contractual partner, alleging harm as a result of our client's lawful exercise of its legal and contractual rights. The case raised important Romanian legal questions regarding the limits of contractual rights and the broader implications of business decisions made within legally established entitlements. Given the legal complexity of the case and the existence of related judicial proceedings, the litigation team of Kinstellar

Deals March 2025

Kinstellar advised Veolia on the acquisition of a stake in Veolia Energie ČR from ČEZ

Kinstellar has successfully advised Veolia on the acquisition of an additional 15% stake in Veolia Energie ČR from ČEZ, increasing its shareholding to more than 98%. This transaction marks a significant milestone in Veolia's long-term collaboration with ČEZ and further strengthens its position in the Czech energy market. Kinstellar provided comprehensive legal support throughout the transaction, including due diligence, negotiation of transaction documents, and regulatory aspects. The deal aligns with Veolia's GreenUp strategy, focusing on the transition to cleaner, local, and decarbonised energy sources. The Kinstellar team was led by Kamil Blažek (Partner) and included Michal Forýtek (Counsel), Matěj

Deals March 2025

Kinstellar advises Verny Capital on the sale of Burger King Kazakhstan operations

Kinstellar has advised Verny Capital on the sale of its Burger King operations in Kazakhstan. The transaction involved multiple jurisdictions, including Kazakhstan and English law, requiring the drafting and negotiation of detailed agreements. Verny Capital, a key player in expanding Burger King's presence in Kazakhstan, overseeing over 50 locations, successfully completed the sale as part of its strategic business decisions. The team was led by Counsel Pavel Kornilov and included Managing Partner Joel Benjamin, and Associates Kamila Serik and Usen Tastanbekov on Kazakhstan law, and Partner Hugh Owen, and Senior Associate Bianka Kovács on English law. Our team guided the transaction, focusing on the deal structure

Insights March 2025

CJEU confirms validity of asymmetric jurisdiction clauses in contracts

On 27 February 2025, the Court of Justice of the European Union (CJEU) issued a key ruling in the Lastre case (C-537/23) (the Judgment), confirming that asymmetric jurisdiction clauses in contracts are valid and in compliance with the Brussels I recast regulation and the Lugano II Convention. The Judgment provides greater legal certainty for parties, especially in cross-border contracts, as the validity and enforceability of such clauses had been previously questioned by some national courts. Asymmetric jurisdiction clauses allow one party of a contract to choose a competent court from jurisdiction of its choice in the event of a dispute, while restricting the other party to courts of only a specified jurisdiction. These

About us

Kinstellar acts as trusted legal counsel to leading investors across Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.

With offices in 12 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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*2024 rankings in core practice areas in international legal directories (Chambers & Partners, Legal 500, IFLR1000)

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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 Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia.

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Newsfeed

📢 🇺🇦 Repeal of the Commercial Code of Ukraine: Analysis of the law and its impact 🤔📝 What does the repeal of the Commercial Code mean for businesses and legal professionals in Ukraine? Our alert provides an in-depth review of the new law, which introduces a landmark reform of Ukraine’s private law system. The alert covers: 🔸 Incorporated commercial code provisions 🔸 Systemic changes in the Ukrainian legal framework 🔸 Mandatory actions for legal entities 🔸 Conceptual shifts in commercial law 🔸 Impact on certain sectors of the economy 🔸 Transition period: adaptation challenges and strategies 📖 Learn more by reading the full analysis here: https://lnkd.in/dxVx58wb 📞 Contact our team in Ukraine to take the necessary actions during the transition period and ensure compliance. #ExceptionalTogether #InTheKnow #LegalReform #Ukraine #CorporateLaw #BusinessRegulation #LegalUpdate #LawReform

🎉Following our incredible team rankings, we’re proudly celebrating our outstanding colleagues recognized in the Chambers and Partners Europe Guide 2025. View the pictures to see the complete list of all 48 ranked lawyers! Congratulations to you all, and special kudos to our Band 1 ranked individuals, recognized as leading lawyers in their fields: 🥇 🇧🇬 Antonia Mavrova (Partner) – Real Estate 🥇 🇭🇺 Balazs Sepsey (Office Managing Partner) – Projects & Energy 🥇 🇭🇺 Csilla Andreko (Partner) – Banking, as well as Capital Markets 🥇 🇨🇿 Kamil Blazek (Partner) – Projects & Energy 🥇 🇨🇿 Klara Stepankova (Partner) – Real Estate 🥇 🇷🇸 Petar Kojdic (Partner) – Banking 🥇 🇷🇴 Victor Constantinescu (Office Managing Partner) – Real Estate 🥇 🇸🇰 Viliam Mysicka (Office Managing Partner) – Corporate/M&A We are also honoured to see our Firm Managing Partner, Ferenczi Kristóf, recognized for his outstanding work in the Projects & Energy field last year as an Eminent Practitioner. 🏅 👏 A huge thank you to all our recognized lawyers for your dedication. We remain committed to delivering top-tier legal services and looking forward to another year of outstanding achievements! #ExceptionalTogether #Award #ChambersEurope2025 #Recognition #ProudMoment #LawAward

🏆 We are honoured to announce that 44 of our departments have been ranked in the Chambers and Partners Europe Guide 2025! This recognition reflects the commitment, expertise, and impactful work of our lawyers across the region. A special congratulations to our Band 1 teams, whose outstanding work has been acknowledged at the highest level: ⭐ Bulgaria: Corporate/Commercial ⭐ Croatia: Dispute Resolution ⭐ Hungary: Banking & Finance and Projects & Energy ⭐ Slovakia: Corporate/M&A We’d like to extend our appreciation to all our teams highly recognized in this year’s rankings. Your hard work and talent are what make our firm stand out. Thank you to our clients for their trust and partnership. Here’s to another year of delivering an exceptional service! 🚀 Stay tuned, 🔜 we’ll soon reveal the exceptional lawyers who earned individual recognition in this year’s rankings! #ExceptionalTogether #Award #ChambersEurope2025 #Recognition #ProudMoment #LawAward #CEE #Europe

Yesterday, our team in Bratislava had the privilege of co-organising a business breakfast with AHK Slowakei (German-Slovak Chamber of Commerce) and KPMG in Slovakia, bringing together experts to discuss how Slovak companies can navigate financial risks amid Germany’s economic challenges affecting several countries in Europe.

Business breakfast with German-Slovak Chamber of Commerce and KPMG in Slovakia

📢 🇰🇿 We are proud to have advised Verny Capital on the sale of its Burger King operations in Kazakhstan. The transaction involved multiple jurisdictions, including Kazakhstan and English law, requiring the drafting and negotiation of detailed agreements. Verny Capital, a key player in expanding Burger King's presence in Kazakhstan, overseeing over 50 locations, successfully completed the sale as part of its strategic business decisions. 📈 💼 The team was led by Counsel Pavel Kornilov and included Managing Partner Joel B. Benjamin, and Associates Kamila Serik and Usen Tastanbekov on Kazakhstan law, and Partner Hugh Owen, and Senior Associate Bianka Kovacs on English law. Our team guided the transaction, focusing on the deal structure and drafting key agreements under both Kazakhstan and English law. This transaction highlights our experience in complex, cross-border M&A deals and demonstrates the strengthening of our presence in Astana. 🗺️ ⚖️ We are pleased to have supported Verny Capital through this significant step and remain committed to providing high-quality legal services in the region. 🔗 https://lnkd.in/dt9aUgCn #ExceptionalTogether #DoneDeals #MergersAndAcquisitions #LegalExcellence #Kazakhstan #Astana

🎬 Watch the first in a series of short videos from our Tax and Financial Advisory team in Bucharest. 📍🗺️ In this introductory clip, we address your questions about what has changed with the integration of Noerr’s CEE practice into our offices. 💡 Iulian Sorescu (Financial Advisor Partner and Head of Local Financial, State Aid & Management Consulting) and Theodor Artenie (Counsel and Head of Tax in Romania) talk about the seamless continuation of our operations in Bucharest, underscoring that the team’s commitment to providing high-quality tax and financial services is stronger than ever. 🚀 👉 Stay tuned for our next videos with further insights and updates about tax regulations, payroll, accounting, and state aid schemes in Romania! #ExceptionalTogether #InTheKnow #Bucharest #TaxAndFinance #Romania #Short #Video #Tax #Finance #QandA

🚨 🇪🇺 CJEU upholds asymmetric jurisdiction clauses   The CJEU has confirmed the validity of asymmetric jurisdiction clauses in its recent Lastre ruling (C-537/23). This decision provides clarity on the legal standing of such clauses in cross-border contracts, which resolves previous uncertainty from conflicting national court interpretations.   What does this mean? ✔ Asymmetric jurisdiction clauses—which allow one party to choose the competent court, commonly used in financial contracts—remain enforceable within EU member states and Lugano II Convention countries. ✔ Businesses and financial institutions involved in cross-border transactions should review their jurisdiction clauses to ensure compliance.   📖 Read our full article by Michal Hrušovský (Managing Associate) and Rebecca Hulalová (Junior Associate) here: https://lnkd.in/ddWJ5kfW   #ExceptionalTogether #InTheKnow #CJEU #LegalUpdate #CrossBorderContracts #FinancialLaw #Finance #AsymmetricJurisdiction

🌟 We are pleased to have advised Madison Debt Holdings on the successful sale of Conexio Metro DOO Beograd, the owner of a metro optic network in Belgrade, to A1 Serbia. 🎯 🔌 The metro optic network, running through the sewage system to connect end-users, is a unique and highly sought-after telecom infrastructure in Serbia. 🤝 Our Belgrade team provided expert guidance through one of the most complex transaction structures in the market, crafting the corporate spin-off process and leveraging deep industry knowledge to ensure the successful carve-out of the metro network into a newly established company. This paved the way for a seamless share sale to A1 Serbia of spun off telecom assets. 💼 Our team was led by Radovan Grbović (Partner), alongside Mina Sreckovic and Mario Kijanović (Managing Associates), with Vuk Vučković, LL. M., Jelisaveta Folić, and Djordje Ilijasevic (Associates). 🔗 https://lnkd.in/dgHAc66r #ExceptionalTogether #DoneDeals #Serbia #OpticNetwork #Telecommunications

8 March is an opportunity to celebrate the strength, resilience, and power of women all over the world. In line with this year’s #IWD theme, let’s continue to support one another and #AccelerateAction in creating a world of equality and empowerment. 

Happy International Women’s Day!