ASD | INSURANCE NEWS
Currently it is not yet possible to estimate all the impacts of the COVID-19-pandemic. However, it is clear that there are massive impacts and it is likely that those impacts will continue to increase. Nearly all parts of our economy have been affected and necessarily so are the insurances.
Sayenko Kharenko advises EBRD on EUR 7.5 million financing to Bank Lviv to support Ukrainian SME
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing an up to EUR 7.5 million synthetic loan in local currency to Bank Lviv under the EU4Business-EBRD Credit Line. The synthetic structure of the loan provides access to long-term UAH funds to eligible SME borrowers of Bank …
Bank loans and renegotiation conditions after lifting the state of emergency
As part of the measures taken to cope with the adverse economic consequences of the state of emergency, introduced by the National Assembly on March 13, 2020, the Association of Banks in Bulgaria came up with a specific proposal for the introduction of the so-called “Private moratorium” on credit payments. The set out rules are …
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Covid-19: Legal Reflections on Virtual Closings
There is no doubt that Covid-19 represents a new challenge in all sectors of the economy, let alone the legal world. In light of this, the issue of distant or virtual closings in corporate finance transactions is revisited by Elena Georgiou, who provides practical guidelines as to how to structure the closing of a deal …
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Incoterms 2020
On 1 January 2020, a new version of Incoterms rules came into force. The new version contains clarifications and modifications which your company should be aware of when applying the rules.
The Shipping Industry: Responding and Adapting to a New Reality
Published also in Times of Malta (Click to access the content) The shipping industry, within the limits of today’s situation, continues to operate and keep crucial supply chains flowing across the globe. Having said this, the outbreak of the Coronavirus (COVID-19) has seen a widespread negative impact on the industry’s operations. It has affected many different …
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FAQ – COVID’19 and Shipping Industry
The World Trade Organization has projected that “world trade is expected to fall by between 13% and 32% in 2020” due to the COVID-19 pandemic, as it has increased globally causing massive disruptions on the economic activity of international markets, including individuals’ lifestyles. One of the major industries shaken by this calamity is the global …
Uncapped EU Funds available for Hardest Hit Sectors
Member State governments may grant financial assistance or other forms of aid to their companies and/or sectors in difficulty so long as this aid is compatible with EU State aid rules namely Articles 107(2) or Article 107(3) of the Treaty on the Functioning of the EU (“TFEU”).
Cargo Shortage and Procedure in Turkey Surplus
Under current Turkish customs regulation, cargoes destined to and discharged in Turkish ports are subject to cargo manifest declaration as per the Circular no. 2012/2 (“Circular”) published by the General Directorate of Customs on 24.01.2012 and subsequent amendments.
Sayenko Kharenko advises EBRD on EUR 15 million financing to OTP Leasing to support SMEs in Ukraine
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a four-year loan of up to EUR 15 million equivalent to OTP Leasing. The loan will be available for disbursement as a UAH synthetic and/or a EUR denominated facilities. It will enable OTP Leasing to finance long-term …