#06 June 2017

In focus – Strong Commitment

Since the Revolution of Dignity many prominent lawyers have entered Parliament and occupied posts in Government so as to push forward reforms. And though their speed and dynamic is still far from what is expected, Ukraine is considered among record holders in terms of the number of reforms actually implemented in recent times.

Expert Opinion

Clearing the Hurdles of the Competition Law

Olga Ivlyeva

A number of important steps were taken in Ukraine last year in order to adapt Ukrainian merger control regulations to the legislation of the European Union. To name a few: merger filing thresholds were significantly increased and a new Merger Regulation1 was issued by the national competition authority (the Antimonopoly Committee of Ukraine).

In Re

State Aid Claims to Torpedo Public Contracts After 2 August 2017?

Sergiy Glushchenko, Nazar Chuchak

For a long time, the remedies system applicable in the event of a breach of public procurement laws in Ukraine has been mainly of a pre-contractual nature. In turn, post-contractual remedies proved very hard for a claimant to pursue and have been generally seen as less effective.

Cornerstones of Pharma Market Antitrust Investigations

Svitlana Panaiotidi, Galyna Zagorodniuk

The year 2016 saw the adoption of two important decisions by the Antimonopoly Committee of Ukraine on the pharmaceutical market. These were the cases of Alcon and Servier and their distributors. Apart from these decisions, a number of investigations against other international pharmaceutical producers and distributors are currently ongoing, so additional AMCU decisions can be expected.

New Opportunities and Tools to Boost Antitrust Compliance

Compliance has been gaining momentum within the business environment in Ukraine over the last few years.  However, some scepticism remains in relation to antitrust compliance. The lack of efficient leniency program that could allow companies to report violations to the Antimonopoly Committee of Ukraine (the AMCU) in exchange for immunity from fines, no criminal sanctions for cartels and no carrots for antitrust compliance programs from the AMCU, lack of legal certainty — all these factors caused certain reluctance on the part of senior management to direct resources on antitrust compliance programs.



CMS advised EBRD

Sayenko Kharenko advised on USD 500 million Eurobond issue by MHP

Aequo — legal counsel to Piraeus Bank

Dentons advised Ingenico Group

Lawyers News

Jeantet Ukraine announced two partner promotions


Ukreximbank filed lawsuit seeking collection of UAH 2.83 billion

SE Antonov got UAH 25 million from Ankara Airport via court action

Prevezon Holdings concluded dispute settlement agreement with US government

Supreme Economic Court of Ukraine refuses to cancel fining of Gazprom


Draft proposes better regulation of leasing of assets

Audits and unscheduled inspections reintroduced by draft law

Financial audit and auditing activities

Law Digest

New special sanctions hit Russian individuals & social networks

Next step taken towards establishment of National Intellectual Property Office

New procedure for issuing option certificates

NBU eased currency restrictions


Capital Markets

Domestic government loan bonds restructuring


Agroalliance International Ltd received permit for purchase of 8 agrocompanies

Burisma obtained permit to buy Diloretio Holdings Ltd

Trade Policy

Antidumping duties imposed on carbamide and CAM imports from Russia

Antidumping duties imposed against Russian chocolate


Swiss vote approved plan for gradual rejection of NPP

Nikolayev CHPP listed for sale


CETAM will work on Blockchain


EY European attractiveness survey published

Cover Story

Strong Commitment

On the path of reforms Ukrainian competition law is that very area where progress is recognized by professional circles and international community.

What are the implications of recent changes in competition law, enforcement results and subsequent logical issues that should be addressed in further reforms? We decided to ask Vladimir Sayenko and Maksym Nazarenko, key figures of the competition team at Sayenko Kharenko.


Alternative Techniques for Financing Arbitration Proceedings

Olexander Droug, Alina Danyleiko

According to the traditional scenario, in order to protect violated rights in arbitration proceedings, a party usually has to rely on its own financial resources. Since the total costs of international arbitration may be significant, before advancing any claim to arbitration, a prospective claimant faces the dilemma of whether to initiate the arbitration proceedings at all in view of the potential financial burden.


Legal Awards 2017

In line with a long-standing tradition, at the end of spring every year the Ukrainian legal community comes together to celebrate the Legal Awards Ceremony held by Yuridicheskaya Practika Publishing.  This year the eleventh annual legal ceremony was held on 17 May at the InterContinental Hotel Kyiv.


Legislative Update

This month another portion of legislative novelties came from Parliament and the Cabinet of Ministers, leaving a lot of questions to consider. So we asked a handful of experts to share their views on the draft law on financial leasing, principles of ensuring the cyber security of Ukraine, and the decree that launched the next phase of ongoing IP-reform. We could certainly not ignore the resonant decision on introducing special economic and other restrictive measures, so we tried to examine its possible implications on business.

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