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Comprehensive Review in Bulgaria

Hristo Nihrizov, Partner at Dimitrov, Petrov & Co., reported that the Bulgarian TV and radio markets are dominated by three big, established operators in the country. There are some new international players (e.g., Bloomberg recently launched a new business-oriented channel with a local partner), but Nihrizov noted that these new channels usually face an uphill battle in carving out market share and generally focus instead on niche markets. Overall, though, he pointed to a growing number of channels in the country, “which is good for the consumers.”

On September 5th, 2016, CEELM reported that Axon Partners had assisted Ukraine’s state-owned ProZorro public procurement electronic system in Ukraine on its transformation into an IT company. As the in-house legal team of ProZorro was not involved in the matter, we asked Director Nadia Bigun to answer several questions about the matter.

Avellum has advised ING Bank N.V. on Ukrainian matters related to USD 100 million secured pre-export revolving loan facility it and Credit Agricole Corporate and Investment Bank provided to Myronivsky Hliboproduct Group. ING Bank N.V. was also advised by Norton Rose Fulbright on English law, Arendt & Medernach on Luxembourg law, Montanios & Montanios on Cyprus law, and Harneys on BVI law.

Doubinsky & Osharova (D&O)is reporting that, on September 21, 2016, the Kyiv Economic Court of Appeal rejected PJSC Sberbank’s argument that D&O’s client PJSC Oschadbank’s certificate for the use of the "Sberbank" sign for goods and services should be terminated. The appeal followed the earlier decision of the Economic Court of Kyiv and the State Intellectual Property Service of Ukraine, both of which had also found for Oschadbank.

Eterna Law has announced the establishment of a Lobbying & GR Practice, to be headed by new Partner Philip Griffin. Eterna Law describes the Lobbying & GR Practice as the first "which adheres to and complies with all American legal practices and standards" in Ukraine.

Arzinger has announced that, "responding to the emerging needs of the market," it has created a bankruptcy practice within the firm’s existing dispute resolution practice.

Sayenko Kharenko acted as legal counsel to the European Bank for Reconstruction and Development on its provision of a USD 20 million loan to the subsidiaries of the Industrial Milk Company, a Ukrainian agricultural holding listed on the Warsaw Stock Exchange and involved in corn, sunflower, wheat, soybean, potato, and dairy farming.

Integrites has announced the appointment of Ivanna Dorichenko as head of the firm’s London office and leader of the firm’s newly-established and London-based International Trade & Commodities practice.

Sayenko Kharenko has advised the EBRD on the development of a draft law introducing the concepts of bondholder meeting and "collective representative" (trustee) in the Ukrainian Securities Market Law (officially known as the Law of Ukraine "On Securities and the Stock Market" No. 3480-IV). The draft law was introduced to the Parliament on September 5, 2016, under registration No. 5068.

Kinstellar has provided local law advice in Bulgaria, Romania, Turkey, and Ukraine to Arkema SA on its acquisition of the Dutch sealant-and-adhesives maker Den Braven from Egeria, a Benelux buyout house. The deal, which was valued at EUR 485 million, was managed by Loyens & Loeff.

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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