Episode 2: Cartels in Focus – Risks for Companies and Directors

In this episode, Luke Wochensky, Partner and Firmwide Head of Risk and Investigations, is joined by Markus Taufner, Dispute Resolution Partner, Kinstellar Vienna and Agnes Lackenberger, Senior Associate, Kinstellar Vienna

Together, they dive into one of the most high-stakes areas of competition law: cartels. Key questions explored include:

The discussion sheds light on the serious consequences of cartel behaviour and why understanding the risks is crucial for anyone operating in the CEE region.

Join us for this insightful conversation on corporate responsibility, regulatory enforcement, and the evolving landscape of cartel investigations.

We are excited to launch a new podcast series: Adventures in the East: Real stories of risk, law, and strategy from Central Europe to Central Asia.

Co-hosted by Luke Wochensky, Partner and Firmwide Head of Risk and Investigations, and Matt Shannon, Head of Business Development, North America, the series will explore high-stakes matters from across the region, such as FCPA probes, internal investigations, sanctions risks, parallel proceedings, and more.

Each ~30-minute episode will feature candid conversations with legal experts, Kinstellar partners, and outside guests.

Watch our first episode, recorded in Bratislava, as Luke and Matt introduce the series and share their insights on the Risk and Investigations service line and the broader Central and Southeastern Europe (C/SEE) region. In this kickoff conversation, they discuss their backgrounds, what brought them to the region, and what you can expect from upcoming episodes.

Vincent Morand, Senior Legal Adviser based in our Prague office and responsible for our relationships with #French speaking clients and contacts, has recently been interviewed in the French podcast Tout Droit Tout Simple.

Vincent shared his experience as an expat lawyer in the UK, Southeast Asia and Europe. The podcast covers expatriation related topics such as when to move abroad, where to go and includes tips and anecdotes.

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.

In today's episode Denise Hamer, Head of Kinstellar C/SEE Asset Solutions, speaks with Michaela Lashova, MRICS, MBA, Managing Partner, Forton Cushman & Wakefield, Bulgaria.

Michaela Lashova is CEO and Managing Partner of Forton Cushman & Wakefield, Bulgaria. Michaela joined Forton as Head of the Investment Consultancy & Valuation department after a five-year career at UniCredit Leasing, where she headed the large corporate clients and real estate department. At Forton, she has attracted key international investors and developers and initiated Forton's cooperation with the banking sector. Michaela is a member of the Royal Institution of Chartered Surveyors, RICS Registered Valuer and RICS Ambassador for SEE and holds a Master's Degree in Financial Management from the City University - Washington and Bachelor's Degree in Finance from the University of Illinois in Chicago.

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.

In today’s episode Denise Hamer, Head of Kinstellar C/SEE Asset Solutions, speaks with Guy Stevens, an independent financial sector consultant.

Guy Stevens is an independent financial sector consultant geographically focused on Central and Eastern Europe, the Middle East, and Africa (CEEMEA), and the UK.  He began his career with Schroders’ Corporate Finance team, advising on bank privatisations in Central and Eastern Europe, and subsequently expanded to the Middle East and Africa following Citigroup’s 2000 acquisition of Schroders’ Investment Bank.  Guy also has worked with Rothschild and UBS.  Having executed over US$50 billion of transactions in the CEEMEA and UK banking sectors, Guy brings a wealth of experience and market insight to a discussion about the current and future financial sector.

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.

In today’s episode Denise Hamer, Head of Kinstellar C/SEE Asset Solutions, speaks with Timur Peters, Founder and Managing Director of Debitos GmbH.

Based in Frankfurt since 2010, but active in 16 jurisdictions and with nearly 1000 registered investors, Debitos GmbH is one of Europe’s pre-eminent illiquid asset electronic trading platforms.  Traded assets include NPLs, bankruptcy claims, litigation claims, real estate, and all other classes of assets with the exception of registered securities.  Ticket sizes range from a million to billions.  Debitos GmbH also is a major supporter of EU Commission activities in the resolution of NPLs.  As a lawyer, financial consultant and IT specialist, Timur Peters brings to bear a broad range of expertise in dispute resolution, finance and technology, as he discusses Debitos GmbH and the growing role and benefits of technology in the disposition of non-performing and non-core assets.

Welcome to Asset Yield, the podcast series of Kinstellar 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.

Bryan Turner advises on and manages non-performing loans (NPLs), as single assets and portfolios, with a particular focus on establishing REO monetisation processes. With extensive property experience throughout Bulgaria, the Balkans and Western Europe, in acquisitions, dispositions, and property development, management, marketing, and consulting, Bryan shares his views on the current and future Bulgarian property market, with a specific emphasis on non-performing assets.

Welcome to Asset Yield, the podcast series of Kinstellar 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.

Mr. West began his career at Credit Suisse First Boston in the mortgage-backed securities group in London and Tokyo. Mr. West received his Master of Business Administration from The Amos Tuck School at Dartmouth College and his Bachelor of Arts degree in Middle Eastern history from Harvard University.

Welcome to Asset Yield, the podcast series of Kinstellar 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. 

In today’s episode Denise Hamer, Head of Kinstellar Asset Solutions, speaks with Gustav Hultgren, co-founder of Laub Capital.

Gustav Hultgren co-founded Laub Capital in 2018 with Tobias Thunander. Laub Capital is a Luxembourg-based fund focused on the EU non-performing loan market. Laub Capital acquires portfolios of claims from banks and monetises the claims by partnering with select collection agencies and law firms. Gustav’s distinguished track record in distressed asset management and investment has spanned diverse economic cycles and geographies. Gustav was previously CEO of DDM, an investment firm focused on NPL investments, where he was responsible for the firm's overall direction, including all investment and operational activities, and managed the DDM IPO in 2014 and numerous rounds of debt and equity funding in the capital markets to support the firm’s strong growth. Prior to this, Gustav founded Credit Express in Ukraine, growing it into a leading debt management company on the local market with portfolios in both Ukraine and Russia. He also worked at Lehman Brothers and Deutsche Bank, based in London and Frankfurt, and held several positions in Global Markets and Fixed Income. He received his university degree from the European Business School, London.

Welcome to Asset Yield, the podcast series of Kinstellar 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. 

In today’s episode Denise Hamer, Head of Kinstellar Asset Solutions, speaks with Karel Smerak, Group Director-Capital Markets and Transactions, EOS Holding (member of the Otto Group). Karel is a real estate finance and NPL professional with two decades of experience in Central and Eastern and South Eastern Europe and Germany. He originates and executes distressed real estate and non-performing loan transactions, with a particular expertise in risk management, capital structure optimisation and asset management.  Having invested in and steered portfolios through previous economic upheavals, Karel joins Asset Yield to discuss current and future investment in performing and non-performing real estate and real estate related assets.