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Kinstellar announces new series of promotions across multiple service lines in our Bucharest office
Kinstellar is proud to announce a recent series of promotions within our Bucharest office for both lawyers and tax and finance specialists. These promotions underscore our firm's commitment to recognizing and rewarding our team members who have excelled in developing their practices, shown independence in managing matters, and brought significant contributions to serving our clients' needs. We highly appreciate their efforts and are therefore pleased to announce the following: Promotions to Managing Associate Andrei Balus, Nicoleta Florea, Iunia Nagy, Andrada Popescu, and Corina Stanciu are all promoted to Managing Associate. Their expertise spans across Corporate M&A, Banking and Finance, Tax and Financial
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)
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
The rise and fall of DEI: What employers need to know
DEI has become a societal megatrend that demands attention. While many companies made DEI initiatives a part of their business strategies, others are scaling back their efforts citing shifting priorities, economic pressures or even political and social pushback. The enthusiasm that once fueled widespread DEI adoption is now met with increased scrutiny. Some question the return on investment and the effectiveness of these programs, whole high-profile layoffs in DEI teams and budget reductions signal that the once unstoppable momentum of DEI may be encountering resistance. Yet, stepping back from DEI is not without risks. In Romania, companies deprioritizing DEI may face not only reputational damage, but also legal and employee
New regulations in Romania on the dual use of permanent grasslands for renewable energy projects
On 10 January 2025, Order No. 4/2025 came into force, detailing the procedure for the partial removal of land occupied by permanent grasslands from agricultural use when utilised in a dual system. The use of permanent grasslands in a dual system is of particular interest to investors in the renewable energy sector. Legislative background In principle, the possibility of using permanent grasslands in a dual system—both for agricultural production and for generating electricity from renewable sources—was already regulated since 2022. This was introduced by Law 254/2022 as an amendment to Law No. 18/1991 regarding land fund. However, in practice, numerous difficulties arose regarding the implementation of
Navigating workplace challenges and litigation trends: dismissals and workplace harassment
As we move into 2025, we want to highlight some of the key developments in the Romanian employment dispute landscape over the past year. You can read our summaries of these key trends below, along with our thoughts on where we expect to see more employment litigation activity in the year ahead. I. Romanian market insights Two key drivers in Romania this year concerning the increased risk of employment litigation are economic uncertainty, which could lead company restructurings and related dismissals, as well as the many changes in Romanian legislation relating to whistleblowing and the prevention of discrimination and harassment at the workplace. Specifically, there are two types of employee lawsuits we expect
Kinstellar advises Solida Capital on its expansion into the Central and Eastern European market with the acquisition of Victoria Center in Bucharest
Kinstellar is pleased to announce that it has advised Solida Capital, a leading investment and asset management firm, on its first office acquisition in Romania—the purchase of Victoria Center from Manova Partners (formerly Macquarie), an internationally active independent real estate investment company. This transaction marks a significant milestone in Solida Capital’s expansion into the Central and Eastern European (CEE) market. Located on Calea Victoriei, one of Bucharest’s most prestigious business addresses, Victoria Center is a prime office building with a Gross Leasable Area (GLA) of 8,600 square meters across 10 floors, including ground-floor retail space and 92 parking spaces. The property has been consistently
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
Cybersecurity: Romania transposes the NIS2 Directive. What’s next?
Directive (EU) 2022/2555 (NIS2) aims to further strengthen the cyber resilience of the EU by requiring entities in various sectors to dial up their cybersecurity efforts. NIS2 replaces the former NIS1 Directive (EU) 2016/1148, expands the range of entities falling under its provisions, and introduces stricter requirements for these entities. On 31 December 2024, the Romanian government passed Government Emergency Ordinance no. 155/2024 (GEO 155/2024) transposing NIS2 into national legislation. Whom does it concern? NIS2 and GEO 155/2024 target entities across various industry sectors and categorises them into essential and important entities. Entities active in the following areas should check whether
But I didn’t know?! Required compliance by Romanian real estate developers with Romania’s (stricter) anti-money laundering obligations
Are you a real estate developer in Romania? Do you have as your primary activity NACE Code (Cod CAEN) 4110 – “Development of building projects” (i.e. the newly NACE Code 6812 as per the recent NACE Rev. 3 classification)? If so, you should be aware that you are qualified as an “obligated entity” for purposes of Romanian anti-money laundering legislation compliance. And the National Office for Prevention and Control of Money Laundering (the “ONPCSB”) is actively auditing real estate developers for compliance. Below are some of the key principles to keep in mind. Background The European Union passed Directive (UE) 2015/849 in 20 May 2015 (i.e., the 4th Anti-Money Laundering Directive).
Kinstellar advises EBRD on supply chain financing for Profi
Kinstellar is pleased to announce that, together with Sullivan & Worcester, we have advised the European Bank for Reconstruction and Development (EBRD), partnering with Banca Transilvania on implementing a supply chain financing programme for Profi Rom Food, one of Romania’s leading retail chains. This transaction marks the EBRD’s first supply chain finance initiative in Romania aimed at strengthening a domestic value chain. The EBRD will assume up to EUR 10 million in local currency risk, effectively doubling Profi’s supply chain finance programme to EUR 20 million through a shared-risk model. Profi, which operates 1,750 stores across Romania under three brands—Super (mid-sized to large stores), Go