On 29 July 2023, Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on the Application of Sanctions” No. 3223-IX, dated 13 July 2023 (“Law”), enters into force.
Partial Amendments Concerning Corporate Governance in Limited Liability Companies
In addition to the modernisation of corporate governance in joint stock companies (“JSCs”), the new version of the Law of Ukraine “On Joint Stock Companies” (“Law”) introduces partial amendments concerning corporate governance in limited liability companies (“LLCs”).
Procedure for Acquisition of Ownership Right to Agricultural Lands Improved
On 2 May 2023, the Ukrainian Parliament adopted Law “On Amendments to the Laws of Ukraine Regarding Improvements of Legal Regulation of Notarial and Registration Actions When Acquiring the Land Plots” No. 3065-IX (“Law”).
Ukraine Introduces New Law on Consumer Protection
On 5 July 2023, the President of Ukraine signed Law of Ukraine “On Consumer Protection” No. 3153‑IX (the “CP Law”). Most provisions of the CP Law will become effective one year after its publication, which is yet to be made, but not earlier than the date of termination or cancellation of martial law in Ukraine.
Ukraine Eases Currency Control Restrictions, Allowing Repayment of Certain Loans from Foreign Lenders
The National Bank of Ukraine (“NBU”) recently allowed Ukrainian borrowers to transfer foreign currency (“FX”) funds abroad to fulfil their obligations under the following categories of loans from foreign lenders:
Sayenko Kharenko Advises on GBP 26.3 Million Reconstruction Loan to Ukraine
Sayenko Kharenko has advised Citibank and UK Export Finance on a GBP 26.3 million equivalent export loan provided to Ukraine under UKEF’s guarantee, to finance the reconstruction of bridges around Kyiv.
The Corner Office: Workforce Ebb and Flow
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Keeping in mind last year’s complexities and the uncertainties ahead, this time we asked: Has your team shrunk or increased in the last 12 months and what are your expectations for 2023?
CEE Real Estate Keeps It Real
Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.
Law of Ukraine “on Collective Bargaining Agreements and Contracts” Is Signed
On 11 April 2023, the President of Ukraine signed Law of Ukraine “On Collective Bargaining Agreements and Contracts” No. 2937-IX, dated 23 February 2023 (“Law”).
Avellum Advises Aristocrat on USD 1.2 Billion Acquisition of NeoGames
Avellum, working with Freshfields Bruckhaus Deringer, has advised Aristocrat on its USD 1.2 billion acquisition of NeoGames. Latham & Watkins advised NeoGames.
Avellum and Sayenko Kharenko Advise on Canada's CAD 2.4 Billion Loan to Ukraine
Avellum has advised the Ministry of Finance of Ukraine on a CAD 2.4 billion concessional loan from Canada. Sayenko Kharenko advised the Government of Canada on Ukrainian law-related matters.
Avellum Advises American University Kyiv on Establishing Campus in Kyiv River Port Building
Avellum has advised the American University Kyiv on establishing its campus in the Kyiv River Port building, in Poshtova Square in Kyiv.
CEELM Deal of the Year Awards Banquet: And the Winner Is...
On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.
Sanctions and Criminal Law
Since the beginning of Russian full-scale invasion of Ukraine, Ukrainian authorities have imposed personal sanctions on about 5,000 individuals and 2,500 legal entities.
Ukraine Joins CRS: A Short Guide
Tax information exchange aims to enable tax authorities to receive information about their residents' foreign financial accounts and assets and identify potential tax evasion or non-compliance.
Introducing the DOTY Final Selection Committee
We are honored and excited to introduce (and extend a big thank you to!) our regional Final Selection Committee of Jurors for the 2022 CEE Deals of the Year awards.
A Procedure for Compensation of Destroyed/Damaged Real Estate Due to Russian Aggression Has Been Introduced
On 23 February 2023, the Ukrainian Parliament adopted the Law of Ukraine “On Compensation for Damage and Destruction of Certain Categories of Real Estate as a Result of Hostilities, Terrorist Acts, and Sabotage Caused by the Armed Aggression of the Russian Federation Against Ukraine, and the State Register of Property Damaged and Destroyed as a Result of Hostilities, Terrorist Acts, and Sabotage Caused by the Armed Aggression of the Russian Federation Against Ukraine” No. 2923-IX (“Law”), which will enter into force on 22 May 2023.
Avellum Helps Ukraine Secure Russia’s FATF Suspension
Avellum has supported the action group led by Ukraine’s Ministry of Finance and the State Financial Monitoring Service in its efforts towards the adoption of restrictive measures against Russia by the Financial Action Task Force.