February 26, 2020
AVELLUM acted as the Ukrainian legal counsel to: J.P. Morgan Securities Plc and Raiffeisen Bank International AG as arrangers on USD 464 million bridge loan financing for Bakcell’s acquisition of PJSC VF Ukraine structured through the pur…
On 21 February Kyiv hosted Level UP Ukraine 2020, which is a forum of interaction between business, government and society aimed at ensuring a transformation of the Ukrainian economy and its transition to an innovative platform. The Forum has been …
February 20, 2020
Yuridicheskaya Practika Publishing is pleased to announce that the 2nd International Criminal Law Forum will be held on 20th of March with the support of the European Criminal Bar Association (ECBA).
The ECBA is a leadi…
The Ukrainian banking sector has undergone turbulent times and has not yet recovered from two massive downturns. The last couple of years became a period of “clearance”, with just 76 banks of them remaining now compared to 180 in early 2014...
The issue of infrastructure improvement has long been one of the most pressing ones in Ukraine. Certain signs of improvement have been seen lately, but in general the issue still remains unresolved, especially given the challenges faced by the Ukrainian economy in recent years.
Green finance remains one of the most dynamic fields of finance in the world. Rapidly increasing interest in green investments and portfolios as well as the widely spreading trend of implementation of sustainable goals makes the green finance domain grow at an exponential rate. The year 2019 was another promising one in terms of green finance news coming from various markets. This article provides an overview of some of the most important developments in the green finance area that took place in 2019.
The Bankruptcy Proceedings Code came into force in Ukraine on 21 October 2019. This regulatory act was very much in demand on the part of the core community due to the urgent need to regulate the bankruptcy procedures of individuals. In addition, a year after the introduction of the Code, the Law On Moratorium on the Recovery of Property of Ukrainian Citizens Granted as Security for Loans in Foreign Currency will be abolished (paragraph 2(3) of the Final and Transitional Provisions).
DLA Piper advised NEQSOL
Asters advised EBRD on EUR 10 million financing to Grain Alliance Group
AVELLUM advised Van Leeuwen Pipe and Tube Group
AEQUO acted as legal advisor to Dragon Capital
Kinstellar advised DEG on USD 20 million credit facility for Astarta
AVELLUM — Ukrainian legal counsel to DTEK Renewables
Asters advised Green Genius
Asters advised EBRD on financing to Kormotech
Court discovered allocation of illegal agricultural subsidies in 2018
PrivatBank case: NBU won first victory in determining companies affiliated to bank
EU imposed another fine on Google worth EUR 150 million
Swiss court ordered RF to pay indemnification to Ukrainian companies
Final version of draft law on land market submitted to Parliament
Verkhovna Rada wants to renew already canceled law on bankruptcy
Cabinet of Ministers approved list of enterprises that cannot be privatized
Parliament adopted law on regulating amber extraction
Verkhovna Rada adopted law on excise taxes on fuel and alcohol
Last law required for “industrial visa-free regime” with EU now adopted
Ukraine in top three exporters of agricultural products to EU
UK Parliament adopted Brexit Treaty
Ukraine and Russia signed memorandum on continuing gas transit through Ukraine
Ukraine and Slovakia signed inter-operator agreement on gas transit
AMCU allowed acquisition of Idea Bank by Dragon Capital
Major gas stations obliged to cut petrol and diesel fuel prices
USA and China ended trade war by signing first phase of trade agreement
EU announced new trade claim to Ukraine
USA extended sanctions against the Democratic People’s Republic of Korea
Year over year the Ukrainian banking sector finds itself in the flux of new changes. Mindful upgrading of the regulatory field entails a new wave of debate between various stakeholders. Oleg Malinevskiy, managing partner of EQUITY law firm, explained why the trust in the banking system has not been restored yet, diving into certain paradoxes of the current situation and the most recent court practice. It turns out that bank owners are still in search of equitable solutions. Going further, we argued about whether the non-performing loans market disposes of such lucrative opportunities, and what it could actually mean for legal professionals.
Gavin Chesney, Mikhail Movshovich, Charles Low
This article discusses recent significant developments in English law regarding the implication of a duty of good faith in commercial contracts. It also addresses certain concerns that may arise in practice and outlines recommendations that should be considered when negotiating and performing a deal.
Dr. Timo Holzborn, Olexiy Oleshchuk
In the course of the “Panama Paper” scandal, EU Directive 2015/849 on prevention of the use of the financial system for the purposes of money laundering or terrorist financing — known as 4. Anti-Money Laundering Directive (“4. AMLD”) — was amended by EU Directive 2018/843, which is known as the Fifth Anti-Money Laundering Directive (“5. AMLD”), despite being only an amendment to 4. AMLD. 5. AMLD came into force in mid-2018. Each EU member state must transpose 5. AMLD into national legislation by 10 January 2020.
In general, the 5. AMLD implements the following changes:
A tax amnesty has been discussed in Ukraine for several years now. But the probability of adoption of the relevant law increased significantly only after the rise of the new government.
The end of the previous year was rich in legislative activities at the Ukrainian Parliament, many of which became items for discussion. A number of amendments to the Tax Code were offered and adopted, as was the significant Law No. 2261, which abolished the monopoly held by lawyers, which had existed since 2016. Another notable initiative is Draft Law No. 2635, which, if adopted, will terminate the Commercial Code of Ukraine. The UJBL editorial team asked the views of experts on these and other recent legal topics.
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