Based on press releases in apparent competition for the title of “most impressively professional and decent handling of team departure,” the news broke yesterday that five of Vasil Kisil & Partners’ eleven partners have left the highly-regarded Ukrainian law firm to start Aequo, a new firm in Kiev.
Vasil Kisil & Partners issued its press release first, announcing in the morning that "Partners Anna Babych, Yulia Kyrpa, Denys Lysenko, Oleksandr Mamunya, and Mariya Nizhnik are leaving Vasil Kisil & Partners Law Firm to start a new law firm, named Aequo.” Senior Partner Vasil Kisil stated that, “We would like to thank our colleagues for many years of cooperation and are confident that the launch of a new player in the legal services market will foster the development of the legal services market in Ukraine. We are confident in our colleagues’ professionalism and sincerely wish the law firm Aequo every success in accomplishing its goals and objectives.”
Aequo’s statement came several hours later, with first Managing Partner Denys Lysenko asserting that: “We would like to thank our former partners and colleagues for long-term successful cooperation. We are convinced that our leaving VKP is a logical continuation of the professional team development. We strongly believe that these changes will contribute positively to the growth dynamics of both firms, and clients will win from clearer focus of each company.” Aequo’s statement also explained that the name of the new firm comes from the Latin phrase “Ex aequo et bono" (“justice and fairness”). The partners claim to be “united by a common vision” and to "share common values: fairness, high ethical and professional standards, effectiveness and responsibility.” They also explain that: "Aequo is a full-service law firm which provides integrated legal support in such spheres as Antitrust & Competition, Banking & Finance, Capital Markets, Corporate/ M&A, Dispute Resolution (Litigation and Arbitration), Intellectual Property, and Tax.”
Lysenko explained in a subsequent exclusive conversation with CEE Legal Matters that the internal announcement of the news was only made yesterday. Lysenko suggested Aequo would proceed under a slightly different business model. VKP, he pointed out, had “a vast number of practice areas,” whereas Aequo intended to focus more on transactional work — though he was careful to note that Aequo had a strong dispute resolution team as well.
The departing partners continue to work at VKP while transitioning to Aequo, which, while already in business, should be “fully functional by mid-August." Lysenko estimates that slightly more than 20 associates will be joining from VKP as well. Acknowledging that “of course there will be some time of challenges ahead to VKP, because this is a major event,” Lysenko took care to emphasize his respect and admiration for the firm, and the efforts both sides are making. “We are very much grateful to VKP, especially to Senior Partner Vasil Kisil, and for the expertise we were able to build,” he said. "We hope to be good friends going forward.”
Lysenko was Head of Vasil Kisil & Partners’ Corporate/M&A and Taxation Groups, and the Partners joining him in Aequo had similarly significant roles at VKP. Partner Anna Babych specialized in Capital Markets, Corporate/M&A, and led Vasil Kisil's Crimean Desk. Yulia Kyrpa was Head of the Vasil Kisil Banking & Finance Group. Oleksandr Mamunya was a partner in the firm’s Litigation & Arbitration and Intellectual Property Groups, and Mariya Nizhnik was Head of the firm’s Antitrust & Competition Group.
Editorial Note: Following the publication of this story, Vasil Kisil & Partners contacted us with the request to add the following statement from Partner Oleg Alyoshin:
“Since the departure of some partners has not come to us as a complete surprise (we knew some time ago that it was going to happen), the management of VKP and the remaining partners were well prepared to deal with the situation. We are absolutely confident that at this stage VKP will be perfectly able to adapt and adjust to the departure and to keep the ongoing and further clients work on the highest level. Now the groups’ work will be taken over by the remaining partners and counsels.”
Alyoshin added that the firm has “some further ideas” about how to effectively replace the departing partners, but explained that he did not wish to disclose those plans at the current time.
