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Asters, working with Kellerhals Carrard, has successfully represented the interests of FC Metalist LLC, based in Kharkiv, before the Court of Arbitration for Sport in Lausanne in a case concerning the issue of sports succession and a related claim brought by a former player of FC Metalist PJSC, the football club that has been in liquidation since 2017 due to bankruptcy.

The post-war reconstruction of Ukraine is an immense challenge that necessitates mobilization of substantial resources. During a United Nations Security Council meeting in November of the previous year, the approximate cost of the country's reconstruction and rehabilitation was estimated at $400 billion. Acknowledging the impossibility of covering such expenses solely through state funds and international aid, Ukraine is placing emphasis on enhancing collaboration with the private sector. Among the various forms and mechanisms for securing resources required for rebuilding of the destroyed infrastructure, public-private partnership (PPP) stands out as one of the most widely debated.

On 27 February 2024, the Cabinet of Ministers of Ukraine approved the Procedure for Issuing, Circulating and Redeeming Guarantees of Origin for Electricity Generated from Renewable Energy Sources and the Procedure for Determining the Environmental Value of Electricity Generated from Renewable Energy Sources.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

An in-depth look at Armen Khachaturyan of Asters covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

On 18 October 2023, the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding Mandatory Registration and Use of Electronic Accounts in the Unified Judicial Information and Telecommunication System (UJITS) or its separate subsystem (Module) that provides for the exchange of documents" dated 29 June 2023 No. 3200-IX (hereinafter referred to as the Law) came into effect. The Law introduces changes to the provisions of procedural codes, particularly the Civil Procedural Code of Ukraine, the Commercial Procedural Code of Ukraine and the Code of Administrative Procedure of Ukraine.

On 24 January 2024, the NEURC adopted the Resolution "On Amendments to Certain Resolutions of the National Energy and Utilities Regulatory Commission (NEURC)" (the "Resolution") to bring the secondary legislation in line with the Law of Ukraine "On Amendments to Certain Laws of Ukraine on Restoration and Green Transformation of the Energy System of Ukraine" No. 3220-IX dated 30 June 2023 (the "Law on "Green" Transformation").

The Government of Ukraine introduced draft law No.10449 to the Parliament, aiming to improve certain issues of mobilization, military records and military service. The published version of the draft law is not final, however, as of now, the Government is proposing the following changes to the current legislation.

Asters, working with Brodies LLP, has advised the Export Credit Agency of Ukraine on developing a new war risk insurance mechanism for the international export of Ukrainian goods through the Black Sea. Watson Farley & Williams reportedly advised the Ministry of Economy of Ukraine. Norton Rose Fulbright reportedly advised arranger Marsh Limited.

On 8 January 2024, the Ministry of Energy of Ukraine issued the order "On Measures to Reduce Mutual Debts on the Electricity Market" (the "Order"), which sets out the methods for dealing with the situations where market participants have unpaid bills to each other. The purpose of the Order is to stabilize the operation of the electricity market and reduce debts in its specific segments.

Ukraine is actively gearing up for the imminent post-war reconstruction, a major undertaking to restore the infrastructure destroyed by hostilities. An integral aspect of the preparatory measures involves enhancing the legal framework to establish favourable conditions for attracting private investments into the extensive reconstruction.

Large energy companies are taking measures to become green in order to meet targets to reduce carbon emissions. The main stakeholders – investors, customers, rating agencies, and regulators – are pushing energy companies to set more environmental, social, and governance goals publicly. For these companies, the “E” in ESG should be the foundation of their strategy.

In 2024, certain currency control restrictions introduced on the first day of the full-scale invasion are still in force in Ukraine. The National Bank of Ukraine reviews and eases some of these restrictions, but many of the prohibitions on foreign exchange transactions remain.

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Asters at a Glance

Founded in 1995, Asters is the largest Ukrainian law firm with offices in Kyiv, Washington D.C., Brussels and London.

The Firm provides efficient transactional legal advice and represents clients on a broad spectrum of matters arising in the course of doing business in Ukraine. Asters has extensive industry-specific experience and plays a leading role in advising clients in various market sectors.

Asters’ 130-strong legal team combines world-class professionalism and quality with clear understanding of local realities so that our clients receive practically oriented advice in the most client-friendly manner. Asters’ lawyers received law degrees from the best European, Ukrainian and US law schools, including Yale, Harvard, Chicago University.

Asters has consistently remained at the top of the Ukrainian legal market throughout its history being acknowledged as Ukraine Law Firm of the Year by Who's Who Legal (2018-2022), The Lawyer European Awards (2020-2021), Chambers Europe Awards 2020 and holds top positions in the most authoritative international market reviews: The Legal 500, Chambers Global and Chambers Europe, IFLR 1000, Who's Who Legal, Best Lawyers.

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