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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

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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 key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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