Protecting Investors Rights through Employment Law Modernization
Being spurred on by Ukraine’s endeavors to move towards EU integration, the Verkhovna Rada of Ukraine has begun adopting new legislation aimed at introducing European values, improving the business climate and attracting foreign investment. Even though not all newly adopted laws illustrate a successful example of harmonizing local legislation with international standards, certain of them may be worthy of attention. In particular, on 13 May 2014 the Ukrainian Parliament adopted the On Amendments to Certain Legislative Acts Regarding Protection of Investor’s Rights Act of Ukraine No.1255-VII (the Act) which came into force on 1 June 2014. The Act introduced certain amendments to various legal acts (namely the Civil, Commercial and Labor Codes, and the On Joint-Stock Companies Act), which mostly relate to establishing additional possibilities for the dismissal of company officers and extending the scope of their liability…
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