#12 December 2011

In focus – EURO 2012

It was a huge challenge for Poland and Ukraine, the co-hosts of EURO 2012, to win the right to host the football championship and then to prepare successfully for it on time. It was evidently impossible to enjoy such benefits without a huge and very responsible piece of work to fulfill existing criteria. Plus, the whole region may have monitored and assessed preparations

Expert Opinion

Ukraine and Poland Hit the Big Time

Peter Dutczyn, Rahim Rahemtulla

Hosting the third largest sporting and broadcasting event after the World Cup and Olympics is the challenge ahead for neighbours Ukraine and Poland, which have so far not wasted the chance to upgrade the countrys stadiums, roads and infrastructure. The duo was awarded EURO 2012 by UEFA in April 2007. The coming EURO 2012 football championships will be the 14th, the first having been held in 1960 in France...

In Re

Euro 2012 Legislation: there is always Room for Development

Galyna P. Zagorodniuk, Oleksandra P. Gorak

Ukraines hosting of 2012 European Football Championship requires significant investments into the Ukrainian economy. Ukraine has undertaken obligations to build stadiums, invest in transportation network, hotels and other infrastructure objects to meet requirements and deadlines set out by UEFA. The list of infrastructure projects to be built and reconstructed was approved by the Cabinet of Ministers of Ukraine as a part of the State Task Program for Preparation and Carrying out of the Final Part of the European Football Championship 2012 (the State Program 2012)

Visa Policy: Preparations for EURO 2012 Moving in the Right Direction

Peter Dutczyn

With four new or modernized stadiums now successfully open and operating in Ukraine and preparations transport, accommodation, PR and other in full swing, the focus is firmly on the amenities to be enjoyed by fans. The Ukrainian authorities know that the finishing touches to the new Arena Lvov and the capitals Olympic Stadium have to be made to make football fans, especially the seasoned diehards, happy with what they see and enjoy

New Procedural Rules Allowing to Apply for Interim Measures in Foreign Court Judgment Enforcement Proceedings

Olena S. Perepelynska

On 22 September 2011 the Ukrainian Parliament adopted long expected amendments to the Civil Procedure Code of Ukraine regarding interim measures in foreign court judgments enforcement proceedings. The respective On Amending the Civil Procedure Code of Ukraine regarding Interim Measures in Recognition and Enforcement of Foreign Court Judgments Act of Ukraine No.3776-VI (the Act No.3776) comes into effect on 19 October 2011

Argument

Sports Stadiums as Profit Centres: the Right Contracts for Maximizing Revenue

Alexander Weigelt

Since the 1990s serious investors discovered that properly managed sports venues can generate profits instead of losses. This was partly driven by increased sports coverage in the media, the general transformation of sports into large-scale entertainment and a steady increase of name athletes and clubs turned into brands. Sports personalities such as UK soccer star David Beckham, famous teams such as Manchester United and milestone stadium projects such as the Allianz Arena in Munich and Old Trafford in Manchester are examples

Brief Analysis of Ukrainian Marks in Sport Arbitration

Pavlo I. Byelousov

Arbitration as a method of alternative dispute resolution has been employed by entrepreneurs since the very early days of business, when merchants turn to a third one whom they knew and trusted for his decision resolving disputes between them. While major and leading arbitration institutions consider the wide range of multi-profile disputes irrespective of sphere and particulars of the business they arise out of, certain businesses created their own arbitration rules to settle a dispute in particular type of professional activity (the so-called closed clubs)

Sports Contracts in Ukraine

Oleksiy S. Kolchanov

Ukrainian sports law is in the early stages of its development and the prospects for its future growth directly depend on resolution of certain conceptual problems. One such problem is regulation of contracts in sports law.

The pressing nature of this problem is evidenced by the fact that today the investment into both professional and amateur sports is on the rise in Ukraine

Venue

Arbitration Days 2011: Think Big!

The first international arbitration conference KIEV ARBITRATION DAYS 2011: THINK BIG (KAD 2011) took place on 17-18 November 2011 in Kiev and was independently conducted by the Ukrainian Bar Association (UBA). KAD 2011 program was divided into two days: Day 1 International Commercial Arbitration and Day 2 Investment Arbitration. The event attracted the participation of more than 130 leading arbitration experts from all over the world, including scientists and practitioners from Austria, the UK, the USA, Finland, France, Germany, Poland, Romania, Sweden, Switzerland, and Ukraine

Legal Focus on Dubai

Olga A. Usenko

The end of October was particularly hot for Dubai, United Arab Emirates, which hosted around 5,000 legal practitioners from around the world who took part in the Annual Conference of the International Bar Association (IBA) this year.

The IBA scheduled more than 180 working sessions covering all areas relevant to international legal practitioners. An impressive variety of topics ranged from regulatory background of space tourism, social media and state information control, to sovereign debt restructuring, anti-corruption instruments, consequences of the Arab Spring for the whole GCC region and Western world

Crux

Private Equity: Higher risks Higher Opportunities

Roman Drozhanskyi

The current tense climate on global debt markets seems to favour lending by investment funds and other non-banking players. Banks have recently decreased the levels of financing even more trying to cope with the European debt crisis, which demands that banks be recapitalized due to their exposure to government bonds of European periphery countries

Yevgen Porada

Before the financial crisis of the late-2000s, private equity funds (PEFs) were quite active on the Ukrainian M&A market. At that time, they primarily targeted rapidly growing financial and real estate industries, which then became the most affected by the crisis

Oleh Malskyy

Private equity funds indeed are quite active in the Eastern Europe, including Ukraine. It should be noted that most private equity funds have taken quite a long time to decide how the markets really work in Ukraine and which industries may turn out to be profitable

Mykola Stetsenko

Among purchasers of a Ukrainian business, private equity funds are likely to be most sensitive to the level of risk they are willing to accept and ways to reduce it. Therefore, PEFs will almost never agree to purchase a stake in the business without having conducted at least legal (and sometimes financial) due diligence

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