Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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Starting from 21 December 2009, the rules for the reorganization of commercial banks have been simplified by Resolution No. 683 of the Board of the National Bank of Ukraine (the “NBU”), adopted on 18 November 2009, which introduced amendments (the “Amendments”) to NBU Regulation No. 189 “On the Reorganization of a Bank Pursuant to the Decision of Its Owner”, dated 27 June 2008 (the “Regulation”). The Amendments are aimed at bringing the Regulation into conformity with the latest legislative changes relating to financial recovery of commercial banks and with the requirements of the Law of Ukraine “On Joint Stock Companies” (the “JSC Law”).
- Baker & McKenzie
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Ukrainian Parliament Introduces Amendments to a Number of Laws Regarding the Simplification of the Procedure for the Acquisition and Realization of Rights to Land
- Baker & McKenzie
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Law of Ukraine No. 1533-VI, dated 23 June 2009, "On the Introduction of Amendments to Certain Laws of Ukraine for Overcoming the Negative Consequences of the Financial Crisis" (the "Law") became effective on 24 November 2009. The Law introduced a number of important changes into the Ukrainian currency control regime in respect of cross-border foreign currency loans from foreign lenders to Ukrainian borrowers; the procedure for foreign investments in Ukraine; and the procedure for settlements under export-import transactions.
- Baker & McKenzie
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On 20 October 2009, the Ukrainian Parliament approved in final reading the Law on the Moratorium on the Increase of Prices for Pharmaceuticals and Medical Products.
- Baker & McKenzie
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On the request of the Ministry of the Economy of Japan, which is in charge of issues on intellectual property in the member-nations of the WTO and candidates to it, Magisters conducted a detailed analysis of Ukrainian legislation and law enforcement practice.
- Magisters
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On 24 July 2009 the Verkhovna Rada (Ukrainian parliament) passed the Law of Ukraine No.1617-VI “On Introduction of Amendments to Certain Legislative Acts of Ukraine Regarding Peculiarities of Carrying out Measures Aimed at the Financial Recovery of Banks” (the “Law”).
- Baker & McKenzie
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Real estate & Construction - Agriculture - Energy (Renewable energy) - Retail and Leisure - Banks and Financial Institutions - Agriculture - Corporate Law / M&A
- Arzinger
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In line with requirements of Kyoto Convention on the Simplification and Harmonization of Customs Procedures (Ukraine joined Convention on 5 October 2006) Ukraine moves to wider implementation of risk management and audit-based customs control. Since 2007 post-clearance customs audits are reality and number of such audits will grow.
- Magisters
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In order to apply benefits under double tax treaty, a Ukrainian payor of income (withholding agent) must hold a certificate confirming payee’s residence in the treaty country. A certificate shall be issued either in the form of treaty country or specific Ukrainian form. A certificate in the form of treaty country must include certain information as required under Resolution of Cabinet of Ministers of Ukraine of 6 May 2001 No. 470.
- Magisters
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In recent months many defaults on bond issues have already occurred or can be expected in the nearest future. Many Russian borrowers face substantial difficulties in repaying their debt or interest payments. A number of disputes have already been filed in courts, while some other bond issuers and bondholders are still attempting to settle or restructure their obligations. However, the latest Ruling of the Federal Arbitration Court of Moscow District threatens to undermine the judicial practice.
- Magisters