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On July 4, 2023, CEE Legal Matters reported that Kinstellar and SOG were teaming up in Serbia through a strategic partnership. Recently appointed Kinstellar Belgrade Managing Partner – and co-head of the firm-wide Financial Institutions sector – Milos Velimirovic shares an insider’s perspective on the move.

On 8 March 2024, 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. 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 (“OECD Guidelines”).

The extended deadline for the implementation of the Directive (EU) 2019/1023 has expired on July 17, 2022. More than a year later, in August 2023, the amendments to the Bulgarian Commercial Act concerning, among other things, insolvency and restructuring rules and procedures were finally published in the Bulgarian State Gazette. Apart from pure alignment with the European legislation, the amendments are aimed at certain long-standing shortcomings of the Bulgarian insolvency and restructuring regime.

As of the close of 2022, Serbia's banking sector faced challenges amid global economic conditions. The year 2023 brought its distinct set of obstacles, with a noteworthy slowdown in global inflation compared to the last quarter of 2022. However, the undeniable focal point is the war in Ukraine, triggering a faster inflationary spiral due to increased energy and food prices.

Did you know that, using the Activity Rankings function of the CEELMDirect website, you can look up the 2023 deal leaderboards in each CEE market, including Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, and Slovenia?

Kinstellar has advised Evelixon Trading Limited on its acquisition of the Grand Wind Park project company from Windvision Serbia Holding and the subsequent sale of a 50% stake in Grand Wind Park to MK Green Energy Limited. Karanovic & Partners advised Windvision. AP Legal advised MK Green Energy.

Kinstellar at a Glance

Kinstellar is a leading independent law firm in Emerging Europe, Turkey and Central Asia, with offices in Bulgaria (Sofia), Croatia (Zagreb), the Czech Republic (Prague), Hungary (Budapest), Kazakhstan (Almaty and Astana), Romania (Bucharest), Serbia (Belgrade), Slovakia (Bratislava), Turkey (Istanbul), Ukraine (Kyiv), and Uzbekistan (Tashkent).

Operating as a single fully integrated firm, Kinstellar delivers consistently high quality services across all jurisdictions in an integrated and seamless style. We are particularly well suited to servicing complex transactions and advisory requirements spanning several jurisdictions.

Firm's website.