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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Ukraine > Legal Developments > Law firm and leading lawyer rankings

Editorial

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

 

2018 FCPA Enforcement Actions and Highlights

January 2019 - Crime. Legal Developments by ELIG, Attorneys-at-Law .

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Overall, 2018 was a more active year in terms of Foreign Corrupt Practices Act ("FCPA") enforcement actions compared to 2017.

Sayenko Kharenko announces new partner promotion

January 2019 - EU & Competition. Legal Developments by Sayenko Kharenko .

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Sayenko Kharenko announces new partner promotion

Sayenko Kharenko is delighted to announce the appointment of Maksym Nazarenko as a new partner in the firm’s antitrust & competition practice. Click here.

AVELLUM advised largest Ukrainian brick manufacturer on restructuring and refinancing of its debt

December 2018 - Corporate & Commercial. Legal Developments by Avellum.

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AVELLUM acted as the Ukrainian legal counsel to Private Joint Stock Company with Foreign Investments “Slobozhanska Budivelna Keramika” (“SBK”) in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR20 million. Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the debt’s refinancing, and buy-out of SBK’s shares.

The deal covered (1) the restructuring and refinancing of SBK’s debt to an international financial institution (“IFI”) and a number of foreign and Ukrainian banks (“Banks”), and (2) a new refinancing facility from another Ukrainian bank. Following the restructuring, the IFI and the Banks left the deal.

Within the equity part of the deal, SBK’s shareholders repurchased from the IFI and one of the Banks those SBK’s shares that were previously sold to them by way of security.

Founded in 1997, SBK has become one of Ukraine’s largest brick and ceramic block manufacturers. SBK offers the complete production cycle from clay extraction to the shipment of finished goods. The manufacturing facilities of SBK include two plants located in Romny city (Sumy region) and Ozera village (Kyiv region), having the total annual manufacturing capacity of 150 million bricks. SBK has its own raw material base consisting of four quarries located in different Ukrainian regions.

AVELLUM’s partner, Yuriy Nechayev noted the following: “It was a complex and challenging transaction which included both debt and equity aspects. We were delighted to guide our client through each stage of this successful restructuring.

The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Tetiana Mykhailenko, Dmytro Tkachuk, Oleksandr Kulykovskyi, and Anna Mykhalova.

AVELLUM advises on Ukraine’s USD2 billion Eurobond issue

December 2018 - Finance. Legal Developments by Avellum.

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AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the USD2 billion sovereign Eurobond issue consisting of two tranches with 5.5 and 10-year tenor. J.P. Morgan Securities, Goldman Sachs, BNP Paribas, and Citigroup acted as joint lead managers on the transaction.

AVELLUM advises EBRD on first financing of Academic Institution in Ukraine

December 2018 - Finance. Legal Developments by Avellum.

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AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a senior secured loan of up to EUR1.3 million to Private Higher Educational Establishment "Kyiv Medical University" (“KMU”).

AVELLUM successfully represented Swiss Company in GAFTA arbitration

December 2018 - Dispute resolution. Legal Developments by Avellum.

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AVELLUM represented a Swiss Company (“Claimant”) in GAFTA arbitration dispute under CIF sale contract with an Egyptian company (“Respondent”) regarding compensation of damages in the form of demurrage and interest for the late payment for the goods.

Through these proceedings, AVELLUM established a new practice of representing clients in GAFTA arbitration disputes, which are resolved by a sole arbitrator.

The dispute concerned correct calculation of laytime and responsibility for demurrage. The calculation of the incurred demurrage depended on who is responsible for the suspension of discharge of the goods.

While deciding upon this case, the decisive factors were specific acts and instructions of each party, since the party who gave direct instructions to suspend the discharge will be held liable. It should be noted that in the present case, the Claimant had not instructed to suspend the discharge, but did warn the Respondent about such consequences, which may incur if the Respondent fails to provide the payment.

After analysing all factual circumstances of the case, the arbitrator held that the discharge was suspended by the instructions of the Respondent, which misunderstood the situation, and, consequently, is liable for damages, which incurred thereafter.

This case once again demonstrates that in contracts governed by the English law, each word from the correspondence between the parties is important. Liability of the parties is established after overall examination of negotiations, correspondence, and acts of each party.

In his award, the arbitrator highlighted that despite the information provided in Statement of Facts (SOF), it was suspended by the Respondent and not the Claimant. Therefore, the arbitrator held the Respondent liable for demurrage incurred due to suspending the discharge. Additionally, the arbitrator obliged the Respondent to pay the Claimant the statutory interest for the late payment for the goods.

As a result, the arbitrator has awarded to satisfy the Claimant’s demand for the compensation of damages.

AVELLUM team was led by associates Dmytro Koval and Leila Kazimi, under the supervision of partners Ivan Kasynyuk and Iryna Moroz.

Maryna Hritsyshyna joins Sayenko Kharenko

November 2018 - Energy. Legal Developments by Sayenko Kharenko .

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Sayenko Kharenko’s energy practice acquired top industry talent to consolidate all of the firm’s work and expertise in the sector

Maryna Hritsyshyna joins Sayenko Kharenko after spending almost seven years at WIND POWER LLC, sub-holding of DTEK RENEWABLES.

Maryna specializes in renewables projects, energy market, and dispute resolution in the energy sector. Being responsible for the legal support of complex projects in the renewable energy sector, she has accumulated extensive experience of drafting and negotiating a wide range of agreements, including wind turbine supply and installation agreements, turnkey agreements (including, EPC under FIDIC forms), service agreements, and re-negotiation of existing contracts. Her expertise also covers all legal issues related to the construction of renewable energy projects, as well as regulatory issues relating to the grid connection, offtake contracts and tariffs. In addition, Maryna is a certified business-mediator of Energy Community Secretariat’s Dispute Resolution and Negotiation Centre.

Svitlana Musienko joins Sayenko Kharenko as a partner

November 2018 - Tax & Private Client. Legal Developments by Sayenko Kharenko .

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Svitlana Musienko joins Sayenko Kharenko as a partner

Sayenko Kharenko has strengthened its tax practice with a new partner hire. Svitlana Musienko brings 20 years of professional experience advising major international companies and the largest Ukrainian business groups on domestic and international tax planning, transfer pricing, tax issues, corporate law, and investment structuring.

Prior to joining Sayenko Kharenko, Svitlana worked as a partner heading the tax practice at an international law firm and as a senior manager at one of the Big Four accounting firms. She has been involved in some of the most significant corporate restructuring and high-profile tax due diligence projects in Ukrainian history. In addition, Svitlana is actively involved in policy and legislative initiatives in the areas of tax and transfer pricing.

Partner Vladimir Sayenko welcomes new partners team member: “We are proud to welcome Svitlana on board. She is a recognised expert in Ukrainian tax law with many years of experience leading the tax practice at a multinational law firm. We have no doubt that under Svitlana’s supervision our tax practice will continue to develop into a true market leader.”

See here: sk_new_partner_svitlana_musienko 

Sayenko Kharenko advised on USD 2 billion dual-tranche Eurobond issue by Ukraine

November 2018 - Finance. Legal Developments by Sayenko Kharenko .

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Sayenko Kharenko advised on USD 2 billion dual-tranche Eurobond issue by Ukraine

Sayenko Kharenko acted as Ukrainian legal counsel to BNP Paribas, Goldman Sachs, Citigroup and J.P. Morgan Securities, joint lead managers of USD 2 billion Eurobond issue by Ukraine.

The issue comprises USD 750 million notes due 2024 and USD 1.25 billion notes due 2028. A share of proceeds of the new issue has been used by Ukraine to redeem its USD 725 million zero coupon notes issued for the purposes of bridge financing earlier in 2018, while the remaining funds will be applied for general budgetary purposes of the sovereign. The issue took place on the back of prolonged negotiations between Ukraine and IMF and gives a positive signal that international capital markets are still open for the Ukrainian debt.

Igor Lozenko and Nazar Chernyavsky led Sayenko Kharenko’s team working on the transaction, which included Denis Nakonechnyi, Yurii Dmytrenko, Oles Trachuk and Vira Pankiv.  sk_press-release_eurobonds_eng

Sayenko Kharenko advises AB InBev Efes B.V.

November 2018 - Corporate & Commercial. Legal Developments by Sayenko Kharenko .

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Sayenko Kharenko advises AB InBev Efes B.V. on mandatory tender offer and sell-out procedures with respect to SUN InBev Ukraine

Sayenko Kharenko has acted as Ukrainian legal counsel to AB InBev Efes B.V. with respect to acquisition of shares of PJSC “SUN InBev Ukraine” from minority shareholders under the new procedures for mandatory tender offer (the MTO) and sell-out recently introduced to Ukrainian law.

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