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Asters Counsel Dmytro Shemelin Elected Deputy Head of the Arbitration Committee on Financial Restructuring in Ukraine

Asters Counsel Dmytro Shemelin elected Deputy Head of the Arbitration Committee on Financial Restructuring in Ukraine


Asters is reporting that Counsel Dmytro Shemelin has been elected Deputy Head of Ukraine's new Arbitration Committee, established pursuant to the requirements of the new On Financial Restructuring law for dispute resolution within financial restructuring procedures in Ukraine. The Supervisory Board also approved Asters' Managing Partner Oleksiy Didkovskiy as an arbitrator within the financial restructuring procedure.

"The financial restructuring procedure is stipulated by the law for debtors whose business operations are potentially promising, but who have temporary financial problems," commented Sergiy Shklyar, Deputy Minister of Justice of Ukraine for Enforcement Service, and Chairman of the Supervisory Board. "Ukraine's new On Financial Restructuring law provides the opportunities and tools to save these debtors by reducing the financial burden and restoring debtors' operations. The Law also has many other advantages aimed at the renewal  of business activity in Ukraine. We received more than 20 applications and were impressed that partners of the leading law firms alongside with scientists indicated their strong interest in setting up an arbitration process in Ukraine which would reflect the best international practices. Asters' Counsel Dmytro Shemelin has extensive experience in arbitration procedures according to various rules and specializes in international arbitration."

Asters' lawyers participated in the drafting of the On Financial Restructuring law, which came into force on October 19, 2016. 

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Avellum is a leading Ukrainian full service law firm with a special focus on finance, M&A, and dispute resolution. Our goal is to be the firm of choice for our clients with respect to their most significant business transactions. We bring the most advanced Western legal techniques and practice, which, coupled with our first-hand knowledge, broad industry experience, and unparalleled level of service, will help our clients achieve best results in their business endeavours. We work seamlessly in integrated teams with premier US, UK and European law firms in course of multijurisdictional transactions. The team consists of 26 highly qualified attorneys, including three partners – Mykola Stetsenko, Glib Bondar, and Dmytro Marchukov, who are actively involved in every transaction. Avellum is recognised as one of the leading law firms in Ukraine by various international legal directories and Ukrainian legal editions (Chambers, Legal500, IFLR1000, Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


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