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Eterna Law

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Almaty, Kiev, Moscow

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AstapovLawyers advised a Finnish energy service company

January 2012

AstapovLawyers International Law Group advised a Finnish energy service company on a project designed to introduce energy saving technologies (reactive power compensators) to Ukraine.

AstapovLawyers’ project team conducted a comprehensive analysis of all implementation options available to model energy service contracts in Ukraine and, based on the analysis findings, designed the best possible project implementation scheme intended to ensure maximum protection for the interests of our Client (a foreign investor) within the framework of today's legal mechanisms. Our work particularly involved drafting necessary contracts and analysing such issues as customs clearance, transaction taxation (including withholding tax), and protection of foreign investors’ ownership.

AstapovLawyers Partner Oksana Kneychuk commented on the project as follows: “Our legal support for this energy efficient project has become a success due to the joint efforts of a large number of professionals in energy, contractual, tax and customs law. The Client’s high opinion of AstapovLawyers’ expertise inspires us to pursue further development and improvement.

Unfortunately, applicable law provides no regulation of energy service contracts which are broadly used worldwide. If Ukrainian lawmakers had introduced an energy service model, it would have allowed implementing the project to the maximum effect and avoiding complicated contractual structures. We hope, however, that Ukraine will soon produce own laws and regulations applicable to the energy service market, and clear tax accounting mechanisms. At this point, AstapovLawyers are actively advising governmental authorities on the issue.”


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