Twitter Logo Youtube Circle Icon LinkedIn Icon

Ukraine

Editorial

Doing business in Ukraine

Contributed by AstapovLawyers

Ukraine is the second largest country in Europe and its position is of strategic importance for the entire continent. Bordered by Belarus, Russia, Romania, Moldova, Hungary, Slovakia and Poland, Ukraine has access to the Black Sea and the Sea of Azov. In addition to having sufficient human, technical and natural resources, Ukraine is at the crossroads of Central European, Central Asian and Middle Eastern traditions. This makes the country an attractive place for trade and foreign investment and has a favourable impact on its business image.

Read more…

Legal market overview

While Ukraine has a strong agricultural industry, foreign investment in other sectors has been diminished by Russia’s annexation of Crimea and conflict in the self-proclaimed people’s republics in Donetsk and Lugansk.

There is little transactional work in the legal market and few M&A and real estate deals reach completion, although there is widespread optimism that conditions will improve as early as the second half of 2016. Dispute resolution, meanwhile, is an extremely busy area of practice.

The government is moving ahead with its EU association policy, but progress has been slow and many legislative changes are still required. Many prominent lawyers are taking government positions to push forward reforms.

Some international law firms remain in Ukraine, including Baker & McKenzie – CIS, Limited, DLA Piper Ukraine LLC and Dentons. Gide Loyrette Nouel A.A.R.P.I., however, closed its Kiev office, with some lawyers moving to Integritesand the bulk of the group joining France-headquartered Jeantet, which bucked a trend by entering the Kiev market and will be one to watch for next year. Elsewhere, Clifford Chance sold its business to local lawyers now operating as Redcliffe Partners; and Schoenherr also exited the market, moving its Ukraine desk to Austria.

Leading domestic firms such as Sayenko Kharenko, Arzinger, Asters, Avellum, AstapovLawyers and Ilyashev & Partners continue to advise international clients on their existing Ukrainian interests.

Firms in the spotlight

Onstan Law Firm
www.onstan.com

Founded in 2013, Onstan Law Firm is a full-service, internationally focused firm in Ukraine. The firm was formed by Yuriy Fedchyshyn, a tax lawyer, Olena Marchuk, a real estate lawyer, Andriy Fedchyshyn, a corporate lawyer and litigator, and Nataliya Khorushko, a banking lawyer and manager who was previously a deputy director of a branch of a large international bank.

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs

GC Powerlist -
Europe

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Ukraine

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • A Remarkable Year of Restructuring. What Next?

    What happened in 2015 in the world of Ukrainian corporate finance was a reflection of larger scale events in and around Ukraine. In this article, we will share our view of the key events in 2015 in the area of cor-porate finance, highlight the most important legislative and regulatory developments in finance and, based on our experience, make a few suggestions for creditors and debtors on how to navigate through 2016.
  • Enforcement in Ukraine of Interim Orders Issued by Foreign Courts and Arbitral Tribunals

    In the past few years Ukrainian clients have developed an appetite for solving their disputes abroad. Litigation and arbitration sagas involving Ukrainian parties or related to Ukrainian assets often spread across many jurisdictions. In many such sagas various interim reliefs were granted by courts and tribunals.
  • Applicable law in contractual disputes: recent arbitration practice

    AstapovLawyers Partner Eugene Blinov & the firm's Associate Roman Protsyshyn share their recent arbitration practice regarding applicable law in contractual disputes.
  • Disputes arising from finance arrangements: post-crisis phenomenon in Ukraine – read more!

    The 2008 financial crisis peak had hardly faded away, when another breaking news was brought to the surface in CIS countries: a significant part of the funds advanced during the pre-crisis period by banks and other financial institutions to support various businesses and commercial initiatives, flew beyond national frontiers to be found in Panama, BVI, Seychelles, Jersey, Cyprus and other offshore and onshore jurisdictions in the pockets of numerous private persons, mostly CIS nationals. No surprise this fact led to a tsunami of disputes, one way or the other related to repayment of loans and funds advanced under other types of finance arrangements. Many of those disputes are still pending, thus, keeping finance arrangements among the top-litigated issues within CIS borders.
  • Proper notices in arbitration – watch the details!

    Article V1(b) of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, better known as the New York Convention, provides that recognition and enforcement of a foreign arbitral award may be refused, at the request of the party against which it is invoked, only if that party furnishes proof to the competent authority where the recognition and enforcement is sought that it was not given proper notice of the appointment of the arbitrator or of the arbitration proceedings. However simple at first glance, the question of what constitutes 'proper notice' turns out to be less than clear in practice.
  • Is the Door to England Still That Wide Open for CIS Disputes?

    6 February has marked lawyers’ calendars with an important message from the UK Supreme Court: English courts will not accept the jurisdiction over a dispute having the “centre of gravity” in another country. AstapovLawyers' Managing Partner Andrey Astapov and Associate Anna Kombikova comment on a recent CIS precedent.
  • Time limit for forwarding arbitral award to parties extended

    The Presidium of the Ukrainian Chamber of Commerce and Industry (UCCI) recently amended Article 52 of the Rules of the International Commercial Arbitration Court (ICAC) at the UCCI. This article governs the procedure for forwarding an arbitral award to the parties to arbitration proceedings.
  • Enforcing arbitral awards against Ukrainian bankrupt companies

    Eugene Blinov and Anna Kombikova of AstapovLawyers ILG commented on peculiarities of enforcement of arbitral awards against Ukrainian bankrupt companies. The lawyers noted the risks connected with such cases and suggested possible solutions.
  • Mitigation of damages in arbitration practice: trite law or space for creativity?

    The mitigation of damages is a well-known principle in international legal practice. However, in Ukraine there is no widely applied court and arbitration practice on the issues relating to mitigation of damages, and aggrieved parties may be unclear as to what should and can be done.
  • Ukraine enables itself to furnish procedural orders of foreign judicial and arbitral authorities

    The Cabinet of Ministers of Ukraine at its meeting on August 29 resolved [1] to amend its Resolution "On approval of the Order for the use of funds allocated in the state budget for payments related to implementation of judgments of foreign jurisdictional authorities rendered upon consideration of matters against Ukraine" (the "Government Resolution").[2] Appropriate amendments were prepared by the Ministry of Justice (responsible for protecting the state's interests in foreign courts and arbitral tribunals) in order to improve mechanisms to protect the rights and interests of Ukraine in foreign judicial and arbitral proceedings.

Press Releases in Ukraine

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to