For many years the absence of trust and favorable legislative background in many “new democracies”, including our own country, resulted in an outflow of cases to more developed arbitration jurisdictions. Naturally, many countries develop and promote their arbitration centers seeking to become attractive arbitration jurisdictions. In addition to obvious benefits for the arbitration communities, this is an essential step for improving investment confidence and sustainability...
The fight against offshores intensified around the world after the 2008 financial crisis. The main focus was on combating tax evasion, exchange of tax and financial information, transparency and the disclosure of beneficiaries.
According to Yaroslav Romanchuk, managing partner of International Legal Center EUCON, the major initiatives on de-offshorization at international community level are measures for information exchange — Convention on Mutual Administrative Assistance in Tax Matters and BEPS (Base Erosion and Profit Shifting), which many experts called the most fundamental changes in international tax rules. This plan was approved by G20 in the autumn of 2015, with 4 points of the plan (out of a total of 15) dedicated to transfer pricing. To date 103 states, including Ukraine, have joined the Convention. However, exchange mechanisms provide for the existence of bilateral or multilateral agreements. At the moment, a multilateral agreement on automatic exchange between competent authorities has been developed and according to the latest information it has been signed by 83 jurisdictions. Ukraine is only planning to sign it...
Olena S. Pårepelynska
Although Ukraine’s law on international arbitration is based on the UNCITRAL Model Law (1985) and Ukraine is a party to all major international treaties in the field of arbitration, its procedural legislation for arbitration-related matters has always been incomplete. Lack of procedural rules for support of international arbitration made it almost impossible in practice to obtain any judicial assistance from local Ukrainian courts, including interim measures in aid of arbitration or gathering the evidence for arbitral proceedings. The existing rules regarding enforcement of arbitration agreements are contradictory and the respective court practice is not always pro-arbitration...
Pavlo I. Byelîusov, Yuliia V. Volkova
Disclosure as means of fact-finding is essential in arbitration since it directly influences a tribunal’s decision and helps the parties to discover each other’s documents relating to a dispute. Procedures for the disclosure of evidentiary materials also play an essential role in international arbitration, as fact-finding is one of the key functions of an arbitral tribunal...
Markian M. Malskyy, Oksàna Y. Karel
A foreign investor is historically considered particularly vulnerable in privatization matters, since both the privatization object and the investor itself are subject to domestic jurisdiction of the state where the privatization took place. This is because an investor is typically concerned by issues of protection of rights and interests, possible discriminatory actions, potential challenge of privatization deal and transnational enforcement process, etc.
Vasil Kisil & Partners advised Epicenter
AVELLUM advised Altran
Sayenko Kharenko advised EBRD
Horizon Capital acquired majority stake in Datagroup
Aequo advised Dragon Capital on Pyramid Shopping Mall acquisition
Asters advised Quinn Emanuel Urquhart & Sullivan
UK residents brought claim against MasterCard
Ukraine filed lawsuit against Russia
Japan fined Apple
Court finds end user responsible for copyright infringement via free Wi-Fi
Pavlenko Legal Group defended interests of insurance company
EY former partners charged with violating auditor rules
New procedure for state registration of rights to immovable property
State registrars now obliged to check court decisions in registry first
Principle of zero-liability introduced
NBU legalized BankID system
New functions for the National Bank of Ukraine
Participation of shareholders in joint stock company management
On the High Council of Justice Draft Act
Cancellation of company seals for business
Members of the American Chamber of Commerce in Ukraine met corruption-buster Ruslan Radetsky
UBA Committee on International Law
UBA V Judicial Forum
Volkswagen acquires stake in Navistar Truck Manufacturer
Largest IT deal in history of Europe
Nordea and DNB merger
Bayer acquired Monsanto
Organization of railway-ferry transportation service through Ukraine and Georgia
Royal Bank of Scotland abandoning global operations
PSBC attracted more than USD 7 billion
Government-backed Draft Act on electricity market
Creation of independent regulator in energy and utility services
Cabinet of Ministers established Council for combating money laundering
Yaroslav A. Påtrov
The Ukrainian “saga” on the enforcement of the SCC emergency arbitrator’s award continues, as the case is pending the second round of cassation review.
Arbitration proceedings were initiated by Dutch and English investors Oil&Gas PLC and Poltava Gas B.V. (JKX or Claimants) on 7 January 2015. The case concerns the alleged Ukraine’s failure to comply with its obligations under the Energy Charter Treaty, the UK-Ukraine BIT (1993), and the Netherlands-Ukraine BIT (1994). On 28 December 2014 Ukraine enacted the Act of Ukraine on Tax Reform Amendments to the Tax Code of Ukraine and Other Legislative Acts. This Act provides for an increase in royalty payments on gas production from the previously applicable 28% to 55%. According to JKX, these provisions conflict with Ukraine’s obligations to ensure fair and equitable treatment of investments. JKX claims it has suffered losses resulting from these violations and demands compensation of USD 270 million...
Ivan Mishchånko
The dispute resolution practice is a “must have” for every legal counsel in Ukraine. The new market players refined business strategies towards a delineated dispute front, making it their “bread and butter”. The recently adopted changes to the judicial system, client demand for flexible and reliable tools of legal protection, upcoming reform in the arbitration sector, mean this is obviously a perfect time to adjust their legal solutions as for time and finance efficiency, force marketing and introduce a forward-thinking vision. We addressed these and other questions to Ivan Mishchenko, managing partner of Trusted Advisors, a new ambitious team establishing its place on the dispute resolution landscape in Ukraine...
Oleksandr M. Biryukîv
Insolvency law is a very complex combination of legal norms, both substantial and procedural. When a court administers a bankruptcy case it normally refers to various provisions of different spheres of legislation. Among those spheres company law in many situations plays a leading role in restructuring the business of a company in distress...
Maryna V. Pavlånchyk
The rapid expansion in the globalization of both businesses and individuals has resulted in a situation in which the official verdicts of authorities belonging to one state frequently require practical implementation within another state. This increase in global relations has led to the increasing popularity of international arbitration as a means to settle commercial disputes of various kinds.
How does Ukraine handle this issue, and what exactly needs to be taken into account during the different stages of dispute or arbitration proceedings abroad, when the results of these proceedings are to be applied in Ukraine?
The IBA Annual Conference is a “traveling” venue that is hosted in different cities around the world. Notably, each location entrusts the largest legal forum with its own spirit, topics and cultural offering. On 18-23 September more than 6,000 delegates came to the US capital, Washington DC, on the eve of the presidential elections and hot political debates.
With it being held in the heart of US politics, the conference program stood out for its unprecedented number of showcase sessions with Attorney General Loretta E Lynch, Ge- neral Colin L Powell, US Secretary of State (2001 — 2005), The Rt. Hon. Arlene Foster MLA, first Minister of Northern Ireland, Robert S Mueller, director of the Federal Bureau of Investigation (2001 — 2013) and others...
The UJBL editorial team has monitored the current significant changes in legislation as well as new draft bills. Among the recently issued regulations for analysis are the Resolution of the National Bank of Ukraine that introduced “zero liability” principle for cardholders, governmental one that ordered notaries and other subjects of registration to verify court decisions on the possibility of counterfeiting before making registration procedures, and more. In october issue we`ve asked our experts to look deeper at the recent draft acts on assessment of environmental impact, creation of special register of persons who have lost their impeccable business reputation, shareholders participation in joint stock company management...
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