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Sayenko Kharenko Team Participates in Implementation of Ukrainian "On Financial Restructuring" Law

Sayenko Kharenko Team Participates in Implementation of Ukrainian "On Financial Restructuring" Law


Three Sayenko Kharenko lawyers are on the approved list of arbitrators elected by Ukraine's Supervisory Board — the agency coordinating the financial restructuring procedure — to settle disputes arising from such procedures.

Three of Sayenko Kharenko’s lawyers were included in the list: Partner Nazar Chernyavsky and Counsels Anton Korobeynikov and Olexander Droug. According to Sayenko Kharenko, "all of them were appointed arbitrators for both financial restructuring procedures: general procedure and approval of the restructuring plan.

According to Sayenko Kharenko, "the innovative law 'On Financial Restructuring' creates the background for the implementation of new debt restructuring tools for debtors whose business operations appear to be promising.

The firm also reported that its lawyers "actively participated in a joint EBRD – World Bank project on drafting the Law of Ukraine 'On Financial Restructuring.' In particular, they adapted the initial draft prepared by the World Bank and EBRD experts to the Ukrainian drafting techniques; finalized the draft as part of the working group and responded to comments from the other members of the working group; explained the content of the Draft Law to the industry participants; supported the draft during its review by the Cabinet of Ministers of Ukraine and the Parliament of Ukraine; participated in the working group of the Parliamentary Committee on Banking and Finance Policy on preparing the final version of the draft adopted by the Parliament and addressed amendments to the draft submitted by the Members of Parliament."

As reported previously on March 31, 2017, Asters Counsel Dmytro Shemelin was elected Deputy Head of the Arbitration Committee established pursuant to the On Financial Restructuring law, and Asters' Managing Partner Oleksiy Didkovskiy was elected to be an arbitrator.

Ukraine Knowledge Partner

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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