New Laws Regarding Enforcement Proceedings Gradually Come Into Force

Ukrainian Parliament adopted the new Law of Ukraine "On Enforcement Proceedings" and the Law of Ukraine "On State Bodies and Persons who Carry Out Enforcement of Court Judgments and Decisions of other State Bodies" (both – Enforcement Laws). These laws are aimed at improving state enforcement procedures and increasing the protection of creditors' rights in Ukraine. Enforcement laws come into force gradually. Certain important changes are outlined briefly below:

Starting from 5 October 2016

• The term for submission of enforcement documents for enforcement is extended from one year to three years. Exceptions to that rule include, in particular, enforcement documents where the creditor is either the State of Ukraine or a state body – three months. The above rule will also apply to enforcement documents issued before the Enforcement Laws' entry into force.