Interest towards Ukraine as a potential investment target is still high. The number of business forums and venues is spilling over. And those overseas investors usually monitor the situation, follow updates of legislative progress and continue to figure out their risks.
Valery Fedichin
A non-resident would typically seek to acquire a Ukrainian company where he wants to establish a presence in Ukraine or make an investment. Many investments or other asset acquisitions involve the purchase of a Ukrainian company either as a productive unit or a vehicle for holding assets.
Vasyl Yurmanovych, Yulia Nikolaychuk
On 4 June 2017 the Law of Ukraine On Amendments to Certain Legislative Acts of Ukraine regarding Improvement of Corporate Governance in Joint Stock Companies came into force. This Law has introduced the squeeze-out and sell-out mechanisms for joint stock companies in Ukraine along with the concept of the escrow account, which is a significant progress in Ukrainian corporate law.
Pavlo Shovak
The Ukrainian economy finds itself far from a stage of growth and has not recovered from the structural economic downturn. As a result, the local M&A market has no signs of visible growth, although investors occasionally witness small improvements. Nevertheless, the World Bank is forecasting that Ukraine will enjoy economic growth in 2018, which is expected to foster the local M&A market among foreign institutional investors.
Andrii Slobodeniuk
In general terms, entering into acquisition agreements may imply a lot of pitfalls. At the same time, most of the obstacles can be prevented at the preliminary stage through thorough analysis of the legal framework and careful negotiation. In this regard, in the next few paragrpahs I will elaborate on the regulatory environment and the possible hardships that may occur during conclusion of acquisition transactions and that may and should be foreseen beforehand.
AEQUO advised Dragon Capital Investments
Dentons — legal counsel to VTB Bank
Ukraine’s USD 3 billion sovereign bond issue and tender offer
Asters advised EBRD
Litigation between Siemens and Russia over Crimean turbines continues
Constitutional Court of Spain declared referendum on independence illegal
Assets of Viktor Yanukovych and son frozen legally
Fuel delivery contract between PJSC Ukrzaliznytsya and Wog Aero Jet LLC overturned
Court partially blocked latest version of Trump’s executive order on immigration
Exemption from taxes of owners of electric vehicles proposed
Simplification of tax invoices automatic registration mechanism
Legal regulation of crypto-currency status proposed
Improvement to procedure for considering citizens electronic appeals put forward
StateGeoCadastre started working on Blockchain
New EU trade preferences for Ukraine
Law on cybersecurity adopted
Electronic trust services
NBU specified investment requirements
Ministry of Energy approved Energoatom investments
EC proposes to ban Russian Federation from owning Nord Stream-2 gas pipeline
Raiffeisen Bank Aval provided EUR 10 million facility for building 3 biogas plants
Lufthansa acquires most of Air Berlin divisions
Naftogaz to buy software for anti-hacking protection
Bitcoin divided once again
New Book by Wolters Kluwer: The Law and Practice of International Arbitration in the CIS Region
The VI Judicial Forum, as organized by the Ukrainian Bar Association, brought together more than 300 participants on 28-29 September. Over the course of two days participants received an excellent opportunity to discuss the state of judicial reform, advantages of legal education of the 21st century, new procedural institutions as well as the future of trials with special cases from local and international trial practice.
Meeting with Serhiy Shklyar, Deputy Minister of Justice of Ukraine for Enforcement Service
On 21 September the Chamber held a meeting with Serhiy Shklyar, Deputy Minister of Justice of Ukraine on Executive Service and representatives of the Department on State Executive Service.
Various Ukrainian governments have for many years demonstrated their willingness to establish a favorable investment climate in this country. Despite the setting up of investment promotion agencies and the adoption of numerous laws, the behavior of investors turns ever more in the direction of other countries. This is happening despite high rates of profitability in Ukraine compared to other jurisdictions. Pure figures no longer work as a significant advantage for our jurisdiction. We asked Maksym Lavrynovych, founding partner of Lavrynovych & Partners, who splits his time between Kiev and Vienna, to explain why it is worth going to Europe and what is the primary motivation of Ukrainian business wishing to invest overseas.
Taras Kopii
At some point in life, everyone faces a situation when we need a qualified legal assistance. In such cases, we either have a minor bureaucratic issue or have a big problem. Anyway, the necessity to seek for legal services is always accompanied with stress, discomfort and uncertainty.
Dr. Sergei Voitovich
Almost two decades ago Ukraine began its practice of investor-state arbitration as a respondent state. From 1998 Ukraine has been a party to 18 concluded investor-state cases, including 11 ICSID cases.
Out of these 18 concluded cases there have been three, so far, equal groups — 6 wins by Ukraine, 6 settled/discontinued cases and 6 cases in which Ukraine was found responsible for breach of its obligations under international treaties.
Leonid Shmatenko, Dr. Svitlana Bevz
While corporate disputes follow the trend of being arbitrated instead of being litigated, in most Eastern European states, corporate disputes are either non-arbitrable or their arbitrability remains disputed. In Ukraine, both the legal basis is insufficient and current case law is flawed. The problem of arbitrability of corporate disputes as such is based on the interpretation of Article 12 of the Ukrainian Code of Economic Procedure (EPC) and the question of when a corporate dispute actually exists.1 The following article addresses these problems.
During his first visit to Ukraine, Paul Rawlinson, Global Chair of Baker McKenzie, told UJBL readers in a special interview of his vision of the balance between local independence and a global strategy, partnership policy and innovation, as well as the global challenges facing the legal marketplace during celebrations to mark the 25th anniversary of Baker McKenzie-Kyiv.
The IBA Annual Conference takes place every year in a different part of the world. Sydney, Australia was the one-week venue on 8-13 October for the first time. The remote continent appeared to be very mature and technologically advanced, while the Australian legal services market is highly competitive and saturated by major international powerhouses. The Sydney location determined a lot of interest in the Asia-Pacific region, and reshaped traditional professional discussions throughout somewhat different angles.
The UJBL editorial team has monitored recent changes in legislation as well as new drafts this month. The most significant drafts our team went through include the Draft on Amendments to the Economic, Civil Proceedings and the Code of Administrative Proceedings, joining the Statute of the International Renewable Energy Agency, draft on Cooperation with the International Criminal Court, drafts regarding circulation of crypto-currencies in Ukraine and on the insurance system. Our team also inquired about the decision of the Deposit Guarantee Fund (DGF) on Regulation of Dutch auctions and the letter-orientation on preventing the violation of the rights of business entities signed by the Prosecutor-General of Ukraine.
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