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Insights April 2022

The regulation and management of Personal Data Breaches

The most fundamental factor in the successful protection of personal data is data security. Without an adequate level of data security, it is impossible to create the conditions under which the processing of personal data can be carried out responsibly. One of the most important provisions of the European General Data Protection Regulation (2016/679/EU – abbreviated as GDPR) is the requirement that the data controller and the data processor ensure a level of data security that is proportional to the level of risk involved. And the reason for this is simple: preventing a personal data breach. A personal data breach is the most dangerous situation from a data protection point of view, as not only does it presuppose an infringement

News April 2022

Kinstellar partners Csilla Andrékó, Diana Dimova, Nina Tsifudina named among IFLR1000 Women Leaders in 2022

Kinstellar is delighted to announce that Csilla Andrékó (Partner in the Budapest office, and head of the firm-wide Banking & Finance service), Diana Dimova (Managing Partner of the Sofia office), and Nina Tsifudina (Partner in the Sofia office) have been recognised among the most prominent women lawyers across the world by the prestigious IFLR1000 “Women Leaders” 2022 ranking. Csilla, Diana and Nina were selected for their outstanding reputations within their markets, impressive track records working on complex deals, the quality of their advice and service, and their leadership roles with their practices. It is the third consecutive year for Diana, the fifth for Csilla, and the first that Nina has received this

News April 2022

Kinstellar wins three “Deals of the Year” at CEE Legal Matters Awards

Kinstellar is honoured to have received three “Deal of the Year” awards at the 2021 CEE Legal Matters Deal of the Year Awards.   CEE Legal Matters has recognised the outstanding work of our teams advising on: ⭐ Bulgaria: KBC Bank’s acquisition of Raiffeisenbank Bulgaria.⭐ Hungary: MVM Energia’s acquisition of companies and assets from E.ON Hungary.⭐ Montenegro: 4iG’s acquisit ion of Telenor Montenegro (a transaction coordinated by our Budapest and Belgrade teams with local counsel in Montenegro).Kinstellar was also shortlisted for advising on:⭐ Bulgaria: DZI-Life Insurance’s acquisition of NN Group’s Bulgarian pension and life insurance businesses.⭐ Turkey: Trendyol financing, creating

News March 2022

Public statement on Kinstellar's policy to work for ‘Russian clients’

29 March 2022 – We remain shocked by and deeply condemn the Russian military aggression in Ukraine and the resulting war and human suffering. One of our largest offices is in Kyiv and our thoughts are with our colleagues, their families, and the Ukrainian people. We continue standing with the people of Ukraine and are united with those in governments and the business community calling for an immediate cessation of the acts of war, a withdrawal of Russian forces from Ukraine and the restoration of peace with no further delay. We support the efforts for peace through international sanctions and informal boycotts to bring pressure to bear on the Russian authorities to cease the aggression and stop the war in Ukraine. We ensure

Insights February 2022

Open Banking in Europe in Light of PSD2 Review

Open banking is changing the way people use banking services in the modern world. Europe prides itself on being the cradle of the open banking revolution, with the EU’s Payment Services Directive[1] (PSD2) being one of the first regulatory initiatives to open up bank-held account data. PSD2 has been in force now for more than four years and has already reshaped the European payments sector. The ongoing review of PSD2 brings an opportunity to assess the current status of open banking in Europe as well as the impact of the directive on the sector. Open banking is the practice of enabling secure interoperability in the banking industry by allowing third-party providers (TPPs) to access payment transactions and other data

Insights June 2021

European Commission adopts new data protection-related standard contractual clauses

On 4 June 2021, the European Commission updated its standard contractual clauses for transfers of personal data to third countries and also released new standard clauses for controller-to-processor relationships. As data transfer standard contractual clauses (“SCCs”) can easily be incorporated into data processing agreements, they represent a widely sought-out mechanism for businesses to ensure data protection compliance when exporting data to third countries. Those businesses that rely on SCCs should now make plans to update their existing agreements to accommodate the recent changes. SCCs for data transfers to third countries Under Article 46, GDPR, in order to transfer personal data outside the EU/EEA, data

News June 2021

Kinstellar scores five Deals of the Year at CEE Legal Matters Awards

Kinstellar is honoured to have received five Deal of the Year awards—for the Czech Republic, Serbia, Slovakia, Turkey and Ukraine—at the 2020 CEE Legal Matters Deal of the Year Awards. Finalists for the peer-selected CEE Deal of the Year Awards were chosen by a panel of legal experts in each country, with winners determined by a second group of experts with widely-recognised regional expertise and experience. Deals submitted for consideration were signed in the 2020 calendar year. CEE Legal Matters recognises the excellent work of our teams advising in: Czech Republic: PPP Project for the D4 Expressway Serbia: Nova Ljubljanska Banka's Acquisition of Komercijalna Banka Slovakia: KBC Group's

Insights March 2021

Peter Kováč contributes to a study on the EU Member States’ rules on health data in the light of GDPR

Peter Kováč, Of Counsel in the Bratislava office, has contributed to a study on the EU Member States’ rules on health data in the light of GDPR. A series of workshops was held in the first half of 2020 with the participation of representatives from Ministries of Health, Data Protection Authorities, stakeholders’ representatives and independent experts, and complemented by legal analysis carried out by national legal experts, as well as online consultations to wider stakeholder audiences. The European Commission, DG Health and Food Safety, has recently published the results of this study. Please, click on the picture below to read more.       For more information, please contact

Insights February 2021

EUIPO offers SMEs trade mark and design grants of up to EUR 1500

The European Commission and The European Intellectual Property Office have 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 grant scheme, designed to encourage SMEs to expand their IP portfolios, has a budget of EUR 20 mil. evenly divided between five bi-monthly application windows. The summary below offers a brief description of the application requirements.     For more information, or for assistance with the application process, please contact Zdeněk Kučera, Counsel, at or Štěpánka Havlíková, Junior Associate, at stepanka.havlikova@kinstellar.

Deals January 2021

Kinstellar advises Austrian KA Finanz AG on the sale of a Greek municipal loan portfolio to Piraeus Bank SA

Kinstellar is delighted to have advised Austrian KA Finanz AG, as the legal owner, on the sale of a Greek municipal loan portfolio to Piraeus Bank SA. KA Finanz AG is the wind up entity of  Kommunalkredit Austria AG, a bank focused on infrastructure and energy, which was nationalised and re-privatised during the past decade and which originated the loans. The transaction involved English, Austrian, and Greek law, and due to legal and other considerations, physically took place across multiple jurisdictions, including Greece, Austria, Serbia, the UK, and the US. The transaction was led by Denise R Hamer, Head of C/SEE Asset Solutions, with the support of Branislav Marić, Managing Partner of the Belgrade office

Insights December 2020

Updated Overview of the 5G Auctions in Central and Eastern Europe

The introduction of 5G networks will bring significant changes to the telecommunications market. Not only will the technology open up a wide range of new possibilities in a variety of sectors (including manufacturing, health, energy, automotive, media and entertainment) but many regulators will also seek to design the frequency auction terms in ways that will foster competition and increase welfare for consumers. For these reasons the 5G rollout remains a hot topic throughout Europe. We understand the importance of these changes and therefore closely monitor 5G frequency auctions in CEE markets. An overview of the current stage of 5G frequency auctions in Kinstellar jurisdictions here. For more information please

Insights November 2020

Overview of the 5G Auctions in Central and Eastern Europe

The introduction of 5G networks will bring significant changes to the telecommunications market. Not only will the technology open up a wide range of new possibilities in a variety of sectors (including manufacturing, health, energy, automotive, media and entertainment) but many regulators will also seek to design the frequency auction terms in ways that will foster competition and increase welfare for consumers. For these reasons the 5G rollout remains a hot topic throughout Europe. We understand the importance of these changes and therefore closely monitor 5G frequency auctions in CEE markets. An overview of the current stage of 5G frequency auctions in Kinstellar jurisdictions here. For more information please