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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.
Navigating the legal landscape: The implementation status of MiCA
As the cryptocurrency market continues to captivate investors worldwide, understanding the regulatory landscape becomes more crucial than ever. In this respect the Markets in Crypto Assets Regulation (the MiCA) is a ground-breaking initiative by the European Union (the EU) aimed at establishing a robust framework for digital asset markets. With MiCA application having taken effect on 30 December 2024, EU member states are now in the process of aligning their national legislation with the new rules and addressing the practical challenges of implementation.Click on the image below or use the following link to read our overview in English. For more
Status of CSRD transposition in Central and Eastern Europe and its legal implications
Kinstellar hosted a special webinar event on 11 February 2025, focusing on the latest status of transposition of the Corporate Sustainability Reporting Directive (CSRD) in Central and Eastern Europe as well as some other legal and regulatory updates relevant to ESG in EU neighbouring countries. The webinar provided valuable insights into the crucial legal factors in preparing for CSRD reporting and a comprehensive understanding of key ESG rules being rolled out in the CEE and beyond. Topics covered: Status of CSRD transposition in Bulgaria, Croatia, Czech Republic, Hungary, Romania and Slovakia Legal considerations of CSRD reporting Other ESG regulatory updates in Serbia, Turkey and
Kinstellar announces the promotion of Martin Baraniak to Managing Associate in Bratislava
Kinstellar is delighted to announce the promotion of Martin Baraniak from our Bratislava office to Managing Associate effective 1 January 2025. Martin has more than 13 years of legal experience, specialising in IP&T, digital business, corporate, and commercial law. Since joining Kinstellar, Martin has co-led the local TMT department alongside Lukáš Mrázik. He has extensive experience leading legal cross-border teams and projects, with a focus on the automotive sector. Martin also provides day-to-day corporate business advice, advice on anti-money laundering, data protection, and public procurement/PPP. Martin’s promotion is a proof that hard work, determination, and the ability to exceed expectations do
Kinstellar advises Mitiska REIM on the acquisition of land in Bratislava for the construction of a retail park
Kinstellar has successfully advised First Retail International 2 (“FRI 2”), a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in the Slovak capital, Bratislava, for the construction of the “Podunajská brána” retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. Work at the site has already begun. Managed by Mitiska REIM, a leading specialist investment management company in European convenience real estate, FRI 2 invests exclusively in retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than EUR 200 million
Changes to the definition of ultimate beneficial owner in Slovakia
With effect from 15 January 2025, Slovak Act No. 297/2008 Coll. on the Protection against Legalisation of Proceeds from Crime and on the Protection against Financing of Terrorism (the AML Act) has been amended to expand the definition of ultimate beneficial owner (the UBO). While the original criteria for identifying UBO remain in force, some other natural persons will be now newly identified as UBOs under the AML Act. 1 Who qualifies as a UBO under the amended criteria? 1.1 General partnership and limited partnership For a general partnership (in Slovak: verejná obchodná spoločnosť) and a limited partnership (in Slovak: komanditná spoločnosť), a UBO is a natural person who: (a)
Ransomware attack on Slovakia’s Real Estate Register causes nationwide outage of all services and databases containing information on immovable property rights
On 5 January 2025, the Real Estate Register in the Slovak Republic (the “Register”) was subject to a ransomware cyberattack. The Register is the sole register containing information on ownership, third-party rights (easements, pledges, etc.) and other material information on immovable properties in Slovakia. As a result of the cyberattack, all the Register’s services are unavailable, and all Real Estate Register Offices are closed until further notice. In practice, the following services, among others, are unavailable: it is not possible to obtain title deeds, either in electronic or in hard-copy form; and all ongoing proceedings concerning immovable properties (sale, pledge, etc.)
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
Update on the ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
The Corporate Sustainability Reporting Directive (EU) 2022/2464 (the “CSRD”) required EU member states to complete its transposition by 6 July 2024. However, uneven implementation led the EU Commission to initiate infringement proceedings against 17 member states, including the Czech Republic and Romania, on 26 September 2024, citing their failure to fully communicate the necessary transposition measures. These states now face a two-month deadline to finalise the process and respond to the formal notice. While the CSRD’s transposition is nearing completion, attention is turning to the Corporate Sustainability Due Diligence Directive (EU) 2024/1760 (the “CSDDD”), an equally significant piece of legislation.
TMT Legal Update
Our TMT Legal Update provides insights from our law experts and aims to keep you regularly up to date with sector news, trends and legislation in the Central and Eastern Europe and Central Asia regions. This issue covers key updates from our jurisdictions from the past few months. REGIONAL Implementation status of certain EU regulations Technology 01. New development regarding NIS 2 Directive implementation in various Kinstellar jurisdictions The EU's NIS2 Directive is a cybersecurity act aimed at improving overall cybersecurity in the EU. Member States must implement it by 17 October 2024. Below we provide
Kinstellar advises MEREP on the acquisition of 50% ownership interest in OC Point Liptovský Mikuláš
Kinstellar has successfully advised Mitiska European Real Estate Partners 3 on the acquisition of a 50% ownership interest in OP Centrum Retail 2 from OPC Group. The target of the transaction, OP Centrum Retail 2, is currently developing a retail park in Liptovský Mikuláš in northern Slovakia. Mitiska European Real Estate Partners 3 (“MEREP 3”) is a fund owned by Mitiska REIM, a leading specialist investor in European convenience real estate. Kinstellar has also recently advised Mitiska REIM on the acquisition of four other retail parks from OPC Group—including Point Skalica, Point Sládkovičovo, Point Žiar nad Hronom, and Point Veľké Kapušany—as part of Mitiska REIM’s plans to expand its retail
How Slovak courts operated in 2023 – Statistics don’t lie
At the beginning of August 2024, the Ministry of Justice of the Slovak Republic released its annual statistical yearbook for 2023 (please see here: Statistical Yearbook 2023). At the time of publication, the effects of the so-called judicial map reforms that were initiated in 2023 had not yet manifested themselves in any significant way. However, we have identified several intriguing trends and other data that we would like to bring to your attention. Civil and commercial litigation In 2023, courts in the Slovak Republic handled 39,920 civil cases, with 110,392 disputes (including commercial cases), which is 7,742 fewer cases than in 2022. Based on an overview of the duration of proceedings in