September 2020 – Yesterday, 22 September, the President of Ukraine signed the Law which amends the Law of Ukraine “On privatisation of state and communal property” (the “Law”), introduces parliamentary control over the privatisation of state property and “unfreezes” the preparatory procedures to privatise large-scale state-owned objects. The Law was adopted by the Ukrainian parliament on 8 September 2020 and will become effective after its official publication.
In August, the TCA — which three months ago launched an investigation into German automotive giants Audi, Porsche, Volkswagen, Mercedes-Benz and BMW — initiated an investigation against other players in the Turkish automobile industry.
September 2020 – Following the adoption of Regulation (EU) 2019/452of the European Parliament and of the Council of 19 March 2019 on establishing a framework for the screening of foreign direct investments into the Union (the “Regulation”), the Czech government decided to regulate this area and to seek to pass a law on the screening of foreign investments. The Czech Ministry of Trade and Industry (the “Ministry”) has submitted a bill on the screening of foreign investments on the basis of which it will be possible to control and eventually ban certain foreign investments into Czech companies (the “Bill”).
The Bulgarian Ministry of Transport, Information Technology and Communications has released a new draft strategy entitled Concept for the Development of Artificial Intelligence in Bulgaria until 2030. It aims to define focal areas for building scientific and expert capacity for the development and implementation of AI systems and to build on the measures and activities set as a priority in other relevant national strategic documents, including in particular “Vision, Objectives and Priorities for the National Development Program: Bulgaria 2030.”
On the 14th of May 2020, the European Commission decided to refer Cyprus to the Court of Justice of the European Union due to its failure to implement a national register of road transport companies.
In July it appears that Turkish merger control activities left the effect of the COVID-19 pandemic behind.
Welcome to Asset Yield, the podcast series of Kinstellar C/SEE Asset Solutions, where we interview principal investors, originators, advisors, and funders in the world of non-performing and non-core assets of all classes, bringing you front line market insights.
On 1 August 2020, pivotal amendments to Ukraine’s renewable energy regulation have come into force (the RES Law).
I. Startups – An Introduction to Financing Options The startup, in words of famous entrepreneur Neil Blumenthal, is a term used for companies working to solve a problem where the solution is not obvious and success is not guaranteed.[1] Since a not so distant past, we have often hear this term and have seen entrepreneurs’ […]
On its session held on 30 July 2020, the Serbian Government adopted the Conclusion no. 05 401-6052 / 2020 (the ”Conclusion” or ”Second Package”), which extends the application of the first package of direct and fiscal benefits to business entities in the private sector, that was introduced in the Decree on Fiscal Benefits and Direct Aid to Companies in the Private Sector and Monetary Aid to Citizens Aimed at Reducing Economic Consequences due to COVID-19 (the “First Package”).
This note discusses recent developments in Kazakhstan on the suspension of the initiation of bankruptcy proceedings. The proposed suspension was introduced to help businesses overcome the economic crisis caused by the COVID-19 outbreak and measures taken to slow it down. Our note is intended to be a helpful guide – it is not comprehensive and does not constitute legal advice.
On 29 July 2020, important amendments were made by the Turkish parliament to the “Law on the Regulation of Broadcasts via the Internet and Prevention of Crimes Committed through Such Broadcasts”. The law is the main piece of legislation covering the dissemination of information on the Internet and until now did not directly cover content on social media. Below is a summary of the main modifications related to Internet companies that the new law introduces.