Twitter Logo Youtube Circle Icon LinkedIn Icon

Publishing firms

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Avellum

View the listing for Avellum

Antitrust Compliance Program in Ukraine: Current Status and Development Prospect

July 2017 - EU & Competition. Legal Developments by Avellum.

More articles by this firm.

Mykola Stetsenko, Managing Partner, AVELLUM

Yaroslav Medvediev, Senior Associate, AVELLUM

2015 and 2016 turned into a period of reform for the Ukrainian antitrust regulatory framework and the Ukrainian competition authority – the Antimonopoly Committee of Ukraine (AMC). The AMC’s new executive team follows the best European practices in antitrust and competition field as the model for development of domestic competition environment. During those two years, the AMC significantly increased its investigation of alleged violations of competition law (including violations of the merger control regime, cartels, unauthorized concerted practices, abuse of dominance, unfair competition, and bid rigging) and deepened its commitment to promoting fair competition in general. In this regard, the existence of the antitrust compliance program for medium and large-sized companies has become very important.

Recent Legal Developments in Renewable Energy Sector

July 2017 - Projects, Energy & Natural Resources. Legal Developments by Avellum.

More articles by this firm.

Glib Bondar, Partner, AVELLUM

Dmytro Symbiryov, Associate, AVELLUM

Ukraine has huge potential and capacity for growth in renewable energy sector. In view of the Government’s efforts to attract foreign capital flow into the economy, Ukraine continues to support the “green” energy sector. 

A Remarkable Year of Restructuring. What Next?

August 2016 - Finance. Legal Developments by Avellum.

More articles by this firm.

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

July 2016 - Litigation & Dispute Resolution. Legal Developments by Avellum.

More articles by this firm.

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.

Ukraine Introduces Tax Incentives for IT Industry

August 2012 - Tax & Private Client. Legal Developments by Avellum.

More articles by this firm.

On 5 July 2012, the Parliament of Ukraine adopted the Law Of Ukraine “On Amending Section XX “Transitional Provisions” of the Tax Code of Ukraine on Peculiarities of Taxation of Software Companies” (the “Law”). The Law came into force on 3 August 2012. The tax incentives introduced by the Law provide for a very favourable tax regime for companies operating in the IT industry and are likely to be widely used by national and international businesses. Below we provide the brief description of the incentives introduced by the Law.

REFORMS IN PHARMACEUTICALS REGULATION

August 2012 - Corporate & Commercial. Legal Developments by Avellum.

More articles by this firm.

The Ukrainian Parliament adopted a number of laws significantly influencing the operation of Pharma and Healthcare companies in Ukraine.

NBU Changes Rules for Registration of Cross-Border Loan Agreements

August 2012 - Finance. Legal Developments by Avellum.

More articles by this firm.

On 15 June 2012, the National Bank of Ukraine (the “NBU”) amended the rules for registration of cross-border loan agreements between Ukrainian borrowers and foreign lenders (the “New Registration Rules”). The New Registration Rules will become effective on 9 November 2012. Our summary of the most important changes is set out below.

UKRAINE CONTINUES TAX REFORMS

August 2012 - Tax & Private Client. Legal Developments by Avellum.

More articles by this firm.

On 5 July 2012, the Parliament of Ukraine adopted the Law Of Ukraine “On Amending the Tax Code of Ukraine Regarding the State Tax Service Due to Administrative Reform in Ukraine” (the “Law”).

Developments in Protection of Secured Creditors’ Rights in Bankruptcy of a Ukrainian Debtor

July 2012 - Finance. Legal Developments by Avellum.

More articles by this firm.

On 19 January 2013 the Law of Ukraine “On Amendments to the Law of Ukraine “On Restoring Debtor’s Solvency or Declaring it Bankrupt” dated 22 December 2011 (the “Restated Insolvency Law”) will become effective. The Restated Insolvency Law introduced a number of important changes to the protection of rights of secured creditors and the enforcement of security in bankruptcy.

REFORM OF SEAPORTS INFRUSTRUCTURE IN UKRAINE

June 2012 - Transport. Legal Developments by Avellum.

More articles by this firm.

On 17 May 2012, the Ukrainian Parliament adopted the Law of Ukraine “On Seaports of Ukraine”, which will become effective on 13 June 2013 (the “Effective Date”) (the “Seaports Law”).

RECENT CHANGES IN UKRAINIAN LEGISLATION Reform of Railroad Transport in Ukraine

March 2012 - Transport. Legal Developments by Avellum.

More articles by this firm.

On 23 February 2012 the Ukrainian Parliament adopted the Law of Ukraine “On the Specifics of Establishment of Public Joint Stock Company of Public Railway Transport” (the “Public Railroad Transport Company Law”), which became effective as of 22 March 2012, and the Law of Ukraine “On Amendments to the Law of Ukraine “On Railroad Transport” (the “Railroad Amendment Law”), which will become effective from the date of state registration of the Company according to the Public Railroad Transport Company Law.

Recent Court Practice Relating to Taking Security in Ukraine

February 2012 - Corporate & Commercial. Legal Developments by Avellum.

More articles by this firm.

From May 2011 and until January 2012, as a result of unification effort against inconsistent practice of the lower courts,the Supreme Court of Ukraine (the “Supreme Court”) re-examined inconsistent rulings of Ukrainian cassation courts on disputes arising out of, inter alia, mortgage and suretyship agreements and made a number of important decisions providing guidance on application of the relevant legislation in similar cases.

CHANGES IN CORPORATE LEGISLATION

November 2011 - Corporate & Commercial. Legal Developments by Avellum.

More articles by this firm.

We set out below most recent changes in Ukrainian corporate law:

  • legislation on reorganization of legal entities was modified;
  •  Ukrainian SEC explained the standard of compliance with the duty of public companies to have their shares admitted to listing on a stock exchange;
  • Ukrainian SEC provided more details on the functioning of joint stock companies; and
  • On-line access to the Unified State Register of Legal Entities and Individual Entrepreneurs was launched following the Order of the Ministry of Justice of Ukraine.

UKRAINE IMPROVES RULES TO PROTECT CREDITORS’ RIGHTS AND CONSUMERS OF FINANCIAL SERVICES

October 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

On 13 October 2011, the President of Ukraine signed into law a number of amendments to the Civil Code, the Bankruptcy Law, the Law on Securing Creditors’ Claims, the Criminal Code and some other laws (the “Amendments”) aimed at increasing protection of creditors’ rights and consumers of financial services, decreasing the share of delinquent assets in the loan portfolio of banks. Amendments became effective on 16 October 2011. The most important changes are outlined below:

Corporate Registration Is Now On-Line in Ukraine

September 2011 - Corporate & Commercial. Legal Developments by Avellum.

More articles by this firm.

Ukrainian government further simplifies corporate registration procedures and eases access to basic corporate information on legal entities by taking the Unified State Register of Legal Entities and Individual Entrepreneurs (the “State Register”) and registration procedures on-line.

Cabinet of Ministers of Ukraine Approved Procedure For Privatization of PJSC “Kyivenergo” and PJ

September 2011 - Projects, Energy & Natural Resources. Legal Developments by Avellum.

More articles by this firm.

According to the news release circulated by the State Property Fund of Ukraine (“SPFU”) on 21 September 2011 the Cabinet of Ministers of Ukraine adopted a Resolution (the “Resolution”) approving conditions for the sale of stateowned shareholdings in power generation companies Public Joint Stock Company “Kyivenergo” (“Kyivenergo”) and Public Joint Stock Company “Zakhidenergo” (“Zakhidenergo”). A 25% stake in Kyivenergo and a 45,103% stake in Zakhidenergo are offered for sale.

NBU EASES LICENSING REQUIREMENTS FOR CROSS-BORDER SURETY (GUARANTEE) PAYMENTS TO FOREIGN LENDERS

September 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

Cross-border foreign currency payments by Ukrainian surety providers (guarantors) to a foreign lender under a surety agreement (guarantee), which secures obligations of a Ukrainian borrower under a foreign currency loan agreement with such foreign lender, will be exempt from the individual licensing requirement.

THE CABINET OF MINISTERS OF UKRAINE ADOPTED NEW PROCEDURE OF REGISTRATION OF RIGHTS TO REAL ESTATE

July 2011 - Real Estate & Property. Legal Developments by Avellum.

More articles by this firm.

The Cabinet of Ministers of Ukraine has adopted Resolution No. 703 “On approving the Procedure for state registration of rights to real estate and their encumbrances and the Procedure on issuance of extracts from the State registrar of property rights to real estate” dated 22 June 2011 (the “Resolution”), which was prepared pursuant to Article 15 of Law of Ukraine No. 1952-IV “On State Registration of Property Rights to Real Estate and Their Encumbrances”. Below you will find a short overview of main changes with respect to registration of rights and encumbrances to real estate.

LATEST CHANGES IN UKRAINIAN CORPORATE LAW

June 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

Recently Ukrainian corporate law underwent numerous amendments, in particular:

  • introduction of International Financial Reporting Standards (“IFRS”) in Ukraine
  •  increase of the maximum number of participants in a limited liability company
  •  abolition of the incorporation certificate

LEGAL ALERT

April 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

Government to provide support for Public-Private Partnership   

PROCEDURE FOR CHALLENGING DECISIONS OF ANTIMONOPOLY COMMITTEE OF UKRAINE HAS BEEN IMPROVED

March 2011 - Litigation & Dispute Resolution. Legal Developments by Avellum.

More articles by this firm.

On 25 March 2011 Regulation of Antimonopoly Committee of Ukraine (“AMCU”) “On approval of amendments to Rules of consideration of applications and cases on violation of legislation on protection of economic competition” (“Rules”) No. 84-p dated 14 February 2011 (“Amendments”) entered into force. The Amendments are aimed to improve the procedure for review and re-examination of cases on violation of legislation on protection of economic competition.

UKRAINIAN CORPORATE AND SECURITIES LEGISLATION FURTHER IMPROVES

March 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

Amendments to Joint Stock Companies Law

ACQUISITIONS IN UKRAINE: 12 TIPS ON MAKING A SUCCESSFUL DEAL

February 2011 - Finance. Legal Developments by Avellum.

More articles by this firm.

With the global financial crisis approaching its end, the mergers and acquisitions (M&A) activity is picking up in Ukraine. Foreign buyers are again looking at the Ukrainian market as sellers have adjusted their pricing expectations to reasonable levels. With this trend in mind, it could be useful to reiterate a few basic aspects of investing in Ukraine.

LEGAL ALERT

February 2011 - Corporate & Commercial. Legal Developments by Avellum.

More articles by this firm.

(1) Changes to Currency Control Rules (2) Changes to Foreign Investment Procedures (3) Simplification of Dividends Remittance Procedure

Shares in Joint Stock Companies Should Be Converted into Electronic Form by 29 October 2010

September 2010 - Finance. Legal Developments by Avellum.

More articles by this firm.

On 29 October 2010 the provision of the Law “On Joint Stock Companies” (the “Law”), dated 17 September 2008, onthe form of shares of Ukrainian joint stock companies will enter into force. The Law requires that by this date all sharesof all joint stock companies in Ukraine should be converted into electronic form and all further share issues after thisdate should also be made in electronic form. This requirement is indefinite and does not depend on the issuer’s size, itsamount of profits/losses, amount of assets or the number of shareholders, etc.