Kinstellar advises Veolia Energie International on acquisition of Slovak heat & power producer

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Bulgaria introduces mandatory quotas for hiring permanently disabled persons

By Nina Tsifudina, Denitsa Kuzeva On 2 April 2019 the rules for the implementation of Bulgaria’s new Persons with Disabilities Act (the “Act”) entered into force. The rules detail the obligation of employers in Bulgaria with more than 50 employees to hire a minimum number of disabled persons[1]—an obligation introduced by the Act at the […]

Foundation trusts set for introduction in Hungary

By Gabor Gelencser April 2019 – The Hungarian Parliament passed the Act on Foundation Trusts on 5 March 2019. This legal concept has had a long and successful history in German-speaking countries. The main purpose of lawmakers in introducing this concept is to provide a legal framework – in addition to the already operating trusts – […]

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By Olena Kuchynska, Viktoriia Pysmenna April 2019 – Kinstellar Energy & Natural Resources Digest Ukraine, March 2019 in Review OIL & GAS: Third International Licencing Round to take place on 18 June 2019 On 18 March 2019, Ukraine’s State Service of Geology and Mineral Resources (the Derzhgeonadra) announced plans to hold the Third International Licensing […]

Spotlight on Uzbekistan: Kinstellar’s regular look at the Uzbek market

By Joel Benjamin, Muborak Kambarova April 2019 – Kinstellar’s regular look at the Uzbek market Creation of the public-private partnership development agency In accordance with the Presidential Resolution No. PP-3980, a Public-Private Partnership Agency has been created under the Ministry of Finance. The Agency is a specialized body for coordination and development of Public-Private Partnerships. One […]

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On 8 February 2019, the Ministry of Corporate Affairs (MCA) released the Companies (Significant Beneficial Owners) Amendment Rules, 2019 (New SBO Rules) to revise and amend the Companies (Significant Beneficial Owners), 2018 (Old SBO Rules). The New SBO Rules have once again kick-started the process of requiring significant beneficial owners to start the reporting procedures. […]

Bermuda’s beneficial ownership registers and privacy: status update and further observations

Bermuda companies, limited liability companies and partnerships have until 30 April 2019 to update or verify beneficial ownership information under Bermuda’s ‘beneficial ownership legislation’. Bermuda’s central register of beneficial ownership information is held on the Bermuda Monetary Authority’s (BMA) “Integra portal”, a secure online registration and filing system. Currently, under Bermuda law, the information on […]

Trusts vs. Foundations: What are the deciding factors?

Trusts have been around for a long time. Their use in the context of succession and wealth planning as well as philanthropy is well established. Foundations, on the other hand, are relatively new (certainly to common law jurisdictions such as Jersey) and as a result there are fewer of them. However, they are being increasingly […]

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