#04 April 2017

In focus – Business crime

Every new week brings us new announcements and press releases about searches, seizures, prosecutions. A brief, retrospective look at the situation confirms that the scope of business crime could be hardly overestimated. The explanation of the absence of tangible results in combatting crime and corruption has been sounded many times by the highest officials. The lack of political power, weak state institutions and selectivity in law-enforcement combine to produce a vicious cycle. I can hardly assume who and how could break it up...

Expert Opinion

Unconstitutional Ways to Fight Corruption: Why? What? How?

Vyacheslav Krahlevych

Corruption is a phenomenon that threatens the national security of a country. Thus, according to research, it is corruption which was one of the reasons that led to mass protests in Ukraine in late 2013-early 2014. According to the Global Corruption Barometer survey conducted by the international organization Transparency International in 2013, 36% of Ukrainians were ready to go out onto the streets to protest against corruption. According to the results of the public opinion survey by the International Foundation for Electoral Systems (IFES) in late 2013, corruption has already entered the list of the biggest problems of the population...

In Re

E-declarations: Test Case for the Government

Denys Bugay

E-declarations create a new market of legal services

The boring concept of “official crimes” was supplemented by a new kind of offence. In the next few years the circumstances related to E-declarations will be a zone of special attention on the part of law-enforcement agencies and subject of hundreds of criminal proceedings.

E-declaration was launched in the throes of political scandals. The flow of comments from VIP persons in the state, aggression of social activists do not give an answer to the question of its merits — what is it?

New ISO 37001 — International Standard for Anti-bribery Management Systems

Jean-Pierre Méan, Ario Dehghani*

History of ISO 37001 and general aspects

On 15 October 2016 the first edition of the new ISO 37001 standard (the Standard) was published. It is a new international standard for anti-bribery management systems in all types of organizations, whether private or public.

The Standard was initiated in late 2013. Experts from 50 countries were involved in developing the Standard that, as every ISO standard, is not obligatory, but reflects the best practices in the field of establishing and implementing an anti-bribery management system within an organization.



NBU applies to court to recover UAH 300 million from MP Leonid Klimov

Hague Arbitration delivered interim award in PrivatBank and Kolomoysky vs. the Russia Federation cases

Stockholm Court allowed compulsory collection of USD 250 million from OPP

US regulator accused Ukrainian brokerage company of market manipulation

Property and bank accounts of Olympic Stadium are distressed



Depriving the Ministry of Justice of right to cancel state registrars acts

Reducing penalties for employers

News in funds transfer regulation

Amendments to the Law on State Support for Agricultural Insurance

Financial Investigation Service


Law Digest

Simplification of currency purchase and transfer of funds abroad

Procedure for goods turnover with ATO zone determined

New procedure for establishing independent supervisory board approved

NBU simplified currency purchase for business



State Policy

Postal provider Ukrposhta becomes a joint-stock company


Ukraine imposed sanctions against Russian banks


Samsung bought electrical goods manufacturer for USD 8 billion


AMCU caught mobile operators in tariff manipulations


Google started money transfers via Gmail

Money Transfer

Russia prohibited money transfers to Ukraine


Energy Efficiency Fund

Naftogaz reduced prices for manufacturing industry


UBA News

Criminal legal risks for lawyers

The Ukrainian Bar Association’s Committee on Criminal Law & Procedure held a meeting dedicated to criminal legal risks faced by advocates in the course of their professional activities. The keynote speaker of the meeting was Eugene Solodko, senior partner of Solodko & Partners.

“Your enemy is your client”, the speaker stated, and explained that the client does not need services, as the client should feel comfortable. Therefore, in case of criminal prosecution, the client would try to shift responsibility onto his/her advocate. “For law-enforcement bodies you become accomplices because your services help your customer to cheat the state”, he said. According to the speaker, a similar problem exists for in-house lawyers.

In order to protect lawyers in the course of performance of their professional duties, Mr. Solodko gave several tips...

Cover Story

Accessing Justice

The number of criminal proceedings opened has increased significantly over the last couple of years. It would be unfair to underestimate the proliferating scope of white collar-crimes in this country. However, it appears to be, at the same time, a very powerful and coarse tool for putting pressure on business and competitive fight. The ongoing redistribution of assets has forced businessmen to try and stay one step ahead in efforts to secure their freedom and property with the help of an army of lawyers and consultants. On their road to accessing justice, some clients have got lost, while others have stumbled over legislative loopholes. In the view of criminal defence attorneys, they face not only challenges to navigate the turbulence in these types of cases, but also broader challenges enforcing the governance of law. Vitaliy Serdyuk and Igor Fedorenko, partners of the highly specialized AVER LEX attorneys at law, touched upon real examples from their recent practice, discussed novelties in criminal legislation, and shared their views on why progressive measures are not bringing such anticipated results today.


On the Recognition and Enforcement of a Foreign Judgment

Volodymyr Bogatyr, Vladyslav Drapii

The success of any litigation and arbitration case depends mostly on the capability of the plaintiff to trace and locate sufficient assets of the defendant’s debtor to block and freeze the same as security for the satisfaction of any court decision or arbitral award to be issued in the main court or arbitral proceedings, which in cases of participation of a foreign entity can be prolonged by parties acting in bad faith.

Hot Issue

Open Sky with the European Union in 2017

Viktor Dovhan

The Agreement On Common Aviation Area (the CAA) was initialed on 28 November 2013 in Vilnius, Lithuania, at a time when Ukraine refused to sign the EU Association Agreement. Currently, the reason for the delay in the signing of the CAA is the lack of consensus between Spain and the United Kingdom in the context of Gibraltar Airport.

The aim of the signing of the Agreement between Ukraine and the EU Common Aviation Area is to harmonize legislation in the field of civil aviation, promoting industrial cooperation and gradual market liberalization. Open Sky will combine Ukraine with EU air transport markets and promote more efficient use of air crafts and improve service quality, development of transit potential of Ukraine...


Legislative Update

This month was notable for a number of legislative initiatives concerning amendments to the ban by the Ministry of Justice to take some decisions in the sphere of appealing against registration activities, improving the procedure for state supervision and responsibility for violations of labor legislation, introduction of the institution of trial by jury. Our team did not forget to ask experts about suggested draft amendments to the Commercial Procedural Code, the Civil Procedure Code and the Code of Administrative Court Proceedings.

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