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Important notice to our Clients and Contacts: Beware of impersonation emails
6 December 2024 – It has come to our attention thatsome companies in our countries (most recently from 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 sent from various email
Important notice to our valued Clients: Beware of impersonation emails
4 November 2024 – It has come to our attention that some companies in Hungary have received unauthorised fraudulent emails falsely claiming to originate from Kinstellar’s Budapest office (wrongly called “Andrékó Ferenczi Kinstellar Ügyvédi Iroda” – our Budapest Office’s official name is different). This appears to be part of an illegal scam campaign. We assure you that these 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
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
Competition Law in the CEE Region: "Cross-Sector Perspectives" Conference
We are pleased to announce Kinstellar’s Competition Law Conference: Cross-Sector Perspectives, taking place on 15 November 2024 at the Hilton Hotel in Belgrade, Serbia. This exclusive event will bring together leading experts to explore the latest developments and challenges in competition law, providing valuable insights across various sectors. T he agenda includes: Fast Forward: Competition and the Current Trends in FMCG, moderated by Olga Šipka, Special Counsel, Co-head Competition & State Aid, Kinstellar, Belgrade Speakers: Stefan Dobrić (Bambi), Vukašin Petković (Nectar Group), Vitaly Pruzhansky (RBB Economics), Branislav Žeravić (Delhaize), Geoffroy van
Hugh Owen, a top M&A lawyer in Central and South Eastern Europe, joins Kinstellar as Partner
Kinstellar is very pleased to announce that Hugh Owen joins the Firm as a Partner, effective 1 October 2024. Hugh is a very well-known leading M&A lawyer in the Central and South Eastern European region with an impressive track record. He spent over 23 years at Allen & Overy, including 13 years as a partner. He then ran his own law firm and M&A training business for four years as a sole practitioner, closing over 20 deals with a combined value of over EUR 2.5 billion. For two years from July 2022 to June 2024 he served as Head of Legal Business Solutions for PwC CEE, responsible for the strategy for Legal in over 25 jurisdictions, including Eurasia, core CEE countries, the Baltics, Ukraine and South-Eastern
Consumer Law Update – CJEU rules that a price reduction announced in an advertisement must be calculated on the basis of the lowest price in the last 30 days
On 26 September, the Court of Justice of the European Union ("CJEU") issued its much anticipated decision in the case Aldi Süd (C-330/23) concerning the announcement of price reductions in an advertisement. At issue was whether a price reduction announced in an advertisement must be calculated on the basis of the lowest price in the last 30 days, or whether the price reduction can be calculated from another price, with the information on the lowest price in the last 30 days being provided together with the reference price for calculating the reduction (as an additional figure). The CJEU concluded that that a price reduction announced in an advertisement must be determined on the basis of the lowest price applied
Kinstellar announces New Office Managing Partners in Bratislava and Prague, Adam Hodoň appointed as COO
Kinstellar is delighted to announce the appointment of new managing partners for our Bratislava and Prague offices, and of a new Chief Operating Officer (COO) effective 1 July 2024. Viliam Myšička is the new Managing Partner of the Bratislava Office, succeeding Adam Hodoň. Adam has been appointed as the Firm’s COO. Viliam has been with Kinstellar since its inception and was previously with Linklaters. He leads the M&A service line in Slovakia and serves as the head of the firm-wide Restructuring & Insolvency service line, as well as the co-head of the firm-wide Technology, Media & Telecommunications (TMT) sector. Viliam brings nearly 20 years of professional experience, advising clients across a wide range
Luke Wochensky, Central & Eastern Europe/Central Asia Risk and Investigations expert, joins Kinstellar as Partner and Head of Firmwide Risk and Investigations Service Line
Kinstellar is pleased to announce that Luke Wochensky has joined the Firm as Partner and Head of the firm-wide Risk and Investigations Service Line. Luke is a civil- and common-law qualified lawyer with an extensive track record in internal and government investigations, cross-border disputes, and providing commercially sensitive and practical counsel to clients operating in Central and Eastern Europe and Central Asia. Qualified to practice in New York and a US citizen, Luke has over 15 years of experience representing US and multinational corporations operating in the region. He regularly counsels clients in risk mitigation, compliance, and integrity issues, particularly those involving cross-border internal and
The AI Act is adopted, what to do now?
On March 13th the EU Parliament adopted the AI Act, marking a significant milestone in shaping the region's AI landscape. The Act will be published in the Official Journal of the European Union, and 20 days after publication, the AI Act will enter into force. Although it will take two full years until the grace period passes and almost all provisions will be applicable, AI providers should be aware of the detailed schedule of applicability. In addition, as the AI Act has extraterritorial scope, it does not only concern the 27 Member States of the European Union, but any AI provider worldwide whose AI systems are placed on the market or put into service in the EU. The first deadline expires in six months, as the rules
EUIPO offers SMEs trade mark and design grants of up to EUR 1,350 again in 2024, available also for Ukrainian SMEs
The European Commission and European Intellectual Property Office (“EUIPO”) have once again launched a small and medium-sized business fund (“SME Fund”) to provide reimbursement for trade mark and design application fees and pre-diagnostic services. The 2024 SME Fund is the third and last call of this initiative, following the 2022 and 2023 SME Funds. The grant scheme, designed to encourage SMEs to expand their intellectual property (“IP”) portfolios, has a budget of more than EUR 21 million, available on a first-come, first-serve basis. The submission period for applications runs from 22 January to 6 December 2024. Read more in the brochure below: DOWNLOAD IN ENGLISH In case of
Implications of US Passage of the Foreign Extortion Prevention Act
The United States Congress passed the Foreign Extortion Prevention Act (FEPA) as an integral part of the National Defense Authorization Act for Fiscal Year 2024 (NDAA) on 14 December 2023. President Biden signed the NDAA into law on 22 December 2023. FEPA imposes extraterritorial criminal liability on foreign officials who solicit and/or accept improper financial gain, either for their own benefit or that of a third party – either from (i) US nationals, (ii) US legal persons, and also (iii) any other person currently present within the US borders at the time of any such activity. FEPA is a long overdue addition to the US Foreign Corrupt Practices Act (FCPA) mechanism. Click on one of the images below or click on
Update: ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
With the 6 July 2024 deadline for the implementation of the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD”) looming, Member States across the EU have been moving at different speeds to adopt their respective local implementing legislation. Our second status update on the CSRD implementation in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia is available here. At the time of writing, three of the six countries in Central and Eastern Europe that we have been following – the Czech Republic, Hungary and Romania – have already adopted legislative acts that, at least partially, implement the CSRD into national legislation. Slovakia has brought a draft act to parliament