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KPD Consulting Law Firm has successfully assisted the Ochakivsky Wind Park Joint-Stock Company in extending a Euro 40 million loan facility from Sberbank. KPD also instructed Pelaghias, Christodoulou, Vrachas, who acted as Cypriot advisers.

Ukraine’s Lavrnovych & Partners has announced the creation and launch of a new Private Clients Practice, to be led by Oleksander Onufrienko, who the firm describes as "one of the most experienced Ukrainian consultants on structuring and private assets management."

Integrites has advised Dragon Capital Investments Limited, a member of the Dragon Capital group of companies, on acquisition of stakes in two large logistics centers near Kyiv — a full acquisition of one in Borispol from Akron Investment Central Eastern Europe II BV, and a 60% stake in another, in Stoyanka, from GLD Holding GmbH. Greenberg Traurig and Vasil Kisil & Partners advised Akron Investment on the first deal, with the Antika Law Firm advising Heitman, the property manger. Schoenherr advised GLD Holding on the Borispol deal. 

Sayenko Kharenko has provided Ukrainian legal advice to lead managers Citigroup, J.P. Morgan, and Morgan Stanley and Avellum has acted as Ukrainian counsel to the Ministry of Finance of Ukraine on the third USD 1 billion Eurobond issuance by Ukraine, fully guaranteed by the United States of America, acting through the US Agency for International Development (USAID). The bonds were placed at 1.471% per annum — the lowest interest rate in Ukraine's history — and are due 2021.

Background to Suggested Reform

By ratifying the Association Agreement, Ukraine committed to implementing the provisions of EU law that govern intellectual property. However, this is not the only factor pushing Ukraine to reform its IP legislation. Major market players from the IT, pharmaceutical, and media industries are dissatisfied with the outdated Ukrainian IP legislation, which they believe impedes the development of their business.

On August 25th, 2016, CEELM reported that Shell Exploration & Production Ukraine Investments (IV) B.V. was represented by Vasil Kisil & Partners in a dispute over the Ukrainian tax authorities' refusal to grant over UAH 5 million as an automatic VAT refund. We reached out to Viktor Kachurenko, Legal Counsel at Shell Ukraine Exploration and Production I, LLC, for more information.

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.

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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