NEWS & INSIGHTS
Up-to-date.

  • Home
  • News & Insights

Search by

Latest

Insights May 2024

Ukraine temporarily exempts certain foreign-to-foreign concentrations from merger control requirements

The Ukrainian Competition Law was amended to exempt certain transactions in the military and defence sector from merger control requirements. As a result of these amendments, merger control requirements in Ukraine will not apply to foreign-to-foreign concentrations so long as the certain criteria are satisfied. Click on one of the images below or click on the following links to read the alert in English or in Ukrainian. Download in English: Download in Ukrainian:

Insights May 2024

The National Bank of Ukraine significantly eases the temporary currency restrictions  

The National Bank of Ukraine (NBU) significantly eases the temporary currency restrictions imposed under martial law and, among other things, simplifies the terms of servicing residents' external borrowings and allows a number of cross-border transfers that are essential for Ukrainian businesses. Click on the following links to read the overview in English, or in Ukrainian. Download in English: Download in Ukrainian:

Insights April 2024

AMC increases fines for competition law violations in Ukraine

A so-called Procedure for Determining the Amount of Fines Imposed for the Violation of Laws on the Protection of Economic Competition (the “Procedure”) issued by the Antimonopoly Committee of Ukraine (“AMC”) in 2023, and binding since 21 February 2024, has come into force in Ukraine. The Procedure replaces the earlier AMC Recommendations on the Calculation of Fines for the Violation of Ukrainian Competition Laws. The Procedure allows the AMC to impose significantly higher fines for competition law violations in Ukraine (the percentage imposed may range from 15% to 30% of the revenue on the relevant market depending on the given violation and circumstances). Indeed, we anticipate that the Ukrainian authority will

Insights April 2024

Settlement procedure: Overview for businesses in light of Ukraine's new competition law

Building on established practices, and taking inspiration from the successful experiences of international partners, the Ukrainian competition authority (the Antimonopoly Committee of Ukraine) has introduced a settlement procedure for cartels and abuse of dominance cases. The procedure became effective on 30 January 2024 within the framework of recent competition law reforms. The procedure is designed as a "win-win" enforcement tool that can both simplify and expedite the adoption of cartel or abuse of dominance decisions, and reduce fines by 15%, provided that defendants meet the respective competition authority eligibility requirements. For more details, please see our leaflet covering this topic in English and

Insights April 2024

The International Register of Damage Caused by the Aggression of the Russian Federation against Ukraine is launched

The application process for the International Register of Damage Caused by the Aggression of the Russian Federation against Ukraine (the "Register") has been launched. The launch of the Register marks the next phase of the proposed International Compensation Mechanism, which is intended to be expanded and enhanced. Click on one of the images below or click on the following links to read the alert in English or in Ukrainian. Download in English: Download in Ukrainian:

Insights March 2024

Improved leniency policy: Overview for businesses in light of Ukraine's new competition law

A leniency procedure has been in place in Ukraine for many years. However, available data suggests it has been severely underutilised. A recent first stage of competition law reforms in Ukraine introduced, among other things, an improved leniency policy. The changes, implemented in February 2024, are aimed at aligning the respective local regulations more closely with EU laws. The most noteworthy changes include: in addition to full immunity for a first applicant, the programme offers a reduction in fines for other cartel participants applying for leniency; the possibility to conduct anonymous preliminary consultations with the regulator; a detailed procedure for obtaining a marker.

Insights March 2024

Key milestone in corporate governance reform: Ukraine enacts long-awaited law on the further liberalisation of the SOE sector

The Law of Ukraine “Introducing Amendments to Certain Laws of Ukraine on the Enhancement of Corporate Governance” (the “Law” or the “SOE Law”) entered into force on 8 March 2024. This Law is a significant step towards the alignment of the Ukrainian legal framework for state-owned enterprises (“SOEs”) with international best practices, particularly the OECD Guidelines for Corporate Governance of SOEs. The Kinstellar team was honoured to contribute to the drafting of the Law directly, within the framework of our cooperation with the EBRD. Reflecting this first-hand experience, Kinstellar highlights the role of the adopted Law for the SOE sector, the overall business environment and the broader post-war

Insights March 2024

Ukraine leaps forward in its cannabis policy

A cannabis law passed by the Ukrainian parliament back in December of last year, will come into force on 16 August 2024. Developed in compliance with EU regulations, the law represents a significant overhaul of cannabis regulations in Ukraine. Secondary cannabis-related legislation is expected to be drafted by the Ukrainian government by the end of May 2024. Click on one of the images below or click on the following links to read the overview in English or in Ukrainian.   Down load in English: Download in Ukrainian:

Deals March 2024

Kinstellar advised The Associated Press in the production of the Oscar-winning documentary 20 Days in Mariupol

Kinstellar is honoured to have provided intellectual property and privacy-related advice to The Associated Press (AP) during the production of 20 Days in Mariupol, a feature-length documentary about the brutal Russian invasion and devastation of the Ukrainian city of Mariupol in 2022. The documentary was recently honoured with an Academy Award for Best Documentary, adding to a growing list of accolades for 20 Days in Mariupol, including from Pulitzer, Sundance, BAFTA and the Directors Guild of America. The Oscar is a first for producer Mstyslav Chernov, a Ukrainian AP video journalist, the AP itself (as a 178-year-old news organization), and is also Ukraine’s first ever Oscar win! Ukrainian IP and privacy law advice

Insights March 2024

Dawn raids: Guidelines for businesses in light of Ukraine's new competition law

At present, even though the Antimonopoly Committee of Ukraine (AMC) does not actively conduct inspections, conducting dawn raid inspections is still permissible during martial law. On 6 February 2024, the updated Dawn Raids Procedure was implemented in Ukraine in order to make the process more transparent and lucid. The document outlines the steps that the AMC must take in order to carry out a dawn raid, as well as the step-by-step protocols for each stage of the inspection, such as taking pictures, recording audio or video, seizing or restricting evidence, checking and sealing the premises and other possessions, and copying papers and data storage devices. There are three noteworthy changes to the updated process:

News March 2024

Kinstellar announces new promotions to Counsel

February 2024 – Kinstellar is delighted to announce the promotions to Counsel of: Yerlan Akhmetov, Kuanysh Shekerbekov (Almaty, Kazakhstan), Cătălin Dinu, Cătălin Graure (Bucharest, Romania), Barnabás Sági (Budapest, Hungary), Yulia Eismont, Maksym Tesliar (Kyiv, Ukraine), Michal Forýtek (Prague, Czech Republic),  Andrijana Kaštelan, Vedran Kopilović, Marija Vuchetich (Zagreb, Croatia). ALMATY Yerlan Akhmetov focuses on banking and finance, M&A and capital markets matters. Having been with the Firm for nine years, Yerlan has earned a reputation for cultivating strong client relationships, demonstrating leadership qualities and making significant contributions to our firm's success. He has played a key role

Insights January 2024

Kinstellar contributes to International Employment Lawyer's Guide to Restructuring a Cross-Border Workforce

Kinstellar is delighted to have contributed to IEL’s Guide to Restructuring a Cross-Border Workforce 2023. In 2023, cross-border restructurings increased significantly – a trend that is expected to persist in early 2024. But conducting the process fairly, and thoroughly, poses a distinct set of hurdles for multinationals. The global guide examines and provides, across 45 jurisdictions, clear answers to the key questions facing employers when conducting a restructuring, under the following areas: Reduction in workforce Restructuring/Re-or ganisation of the business Changing terms and conditions Areas to watch Kinstellar employment team covered the following jurisdictions: