The Law of Ukraine on Tax Increases №4015-ІХ, adopted by the parliament and awaiting presidential signature, came into effect on November 30, 2024. Below are the key changes to the taxation system.
Agribusiness: Old Strength, New Challenges, and Hopes for the Future
Popescu & Asociatii Partner Loredana Popescu and Avellum Partner Maksym Maksymenko look at the current status of agribusiness in their countries – both traditional powerhouses in the sector – highlighting how they are managing to show resilience despite tough years.
First Successful Application of New Leniency Procedure
A leniency procedure has been in place in Ukraine for over two decades. However, until recently, there was no public record of its successful application by the Antimonopoly Committee of Ukraine (AMC).
Call for Investment Projects in Ukraine
During EU-Ukraine Investment Conference on 13-14 November in Warsaw the European Commission has announced a call for private investment projects in Ukraine that have cost at least EUR 50 m, of which the project initiator provides at least 10% in the own contributions.
Sayenko Kharenko Advises EBRD on EUR 55 Million Financing Package for the City of Kyiv
Sayenko Kharenko has advised the EBRD on a EUR 55 million financing package to support the city of Kyiv.
Redcliffe Partners and CMS Advise on EBRD and IFC's USD 435 Million Financing for Lifecell and Datagroup-Volia Merger
Redcliffe Partners, working with Clifford Chance and George Yiangou, has advised the European Bank for Reconstruction and Development and the International Finance Corporation on the USD 435 million financing for the merger of Lifecell Group and the Datagroup-Volia Group (reported on by CEE Legal Matters on September 17, 2024). CMS, working with Chrysostomides, advised the borrowers.
Sayenko Kharenko Advises Ukrnafta on Acquisition of Shell Gas Station Network in Ukraine
Sayenko Kharenko has advised PJSC Ukrnafta on its acquisition of a 51% stake in Alliance Holding, which owns a network of 118 Shell-branded gas stations across Ukraine.
Ukraine Updates Rules for Reservation of Persons Liable for Military Service and the Criteria for Granting the Status of Critical Importance to the Enterprise
On 22 November 2024, the Cabinet of Ministers of Ukraine published Resolution No. 1332 dated 22 November 2024 ‘Some Issues of Reservation of Persons Liable for Military Service during Martial Law’ (the ‘Resolution’), which updates the reservation procedure and clarifies certain criteria of criticality.
FDI Screening in CEE: A CEE Legal Matters Round Table
On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.
Sayenko Kharenko Advises IFC on USD 210 Million Risk-Sharing Facilities for Raiffeisen Bank Ukraine
Sayenko Kharenko, working with Hogan Lovells, has advised the International Finance Corporation on two risk-sharing facilities for Raiffeisen Bank Ukraine totaling approximately USD 210 million equivalent, one of which IFC cooperated on with the US International Development Finance Corporation. Redcliffe Partners and Mayer Brown reportedly advised the DFC.
NBU Adjusts Currency Control Restrictions to Stimulate Trade and Investment
Starting from 20 November 2024, the National Bank of Ukraine (“NBU”) enacted amendments to the existing currency control restrictions under the moratorium on foreign currency cross-border transfers (“Moratorium”). These amendments aim to facilitate international trade cooperation and technical assistance projects while simultaneously strengthening compliance measures for certain exemptions.
Ukraine: The Ministry of Economy Introduces New Rules for Drafting, Filing, and Examining Applications for Inventions and Utility Models — Challenges and Opportunities for Clients
On 25 October 2024, new rules for the registration of inventions and utility models in Ukraine ("Rules") came into force. Pursuant to Order of the Ministry of Economy of Ukraine No. 23301 dated 9 September 2024, the Rules set out the requirements for the drafting, filing and examining of an invention and utility model applications.
Ukraine's Closer Look at SOEs: A Buzz Interview with Volodymyr Igonin of Vasil Kisil & Partners
Vasil Kisil & Partners Partner Volodymyr Igonin reports ongoing reforms in Ukraine amid the challenges of war, highlighting ambitious governance reforms, particularly in the state-owned enterprise sector, and a drive to attract investment through privatization and risk-protection measures. Despite obstacles, Igonin notes that both local and foreign businesses are investing in Ukraine, reflecting a cautious optimism for the country's economic future.
KPD Consulting Advises VD Group on Acquisition of LvivTech.City Project
KPD Consulting has advised VD Group on its acquisition of the LvivTech.City project from UFuture Holding.
Avellum Advises UMAEF on USD 50 Million Investment Program
Avellum has advised the Ukraine-Moldova American Enterprise Fund on launching its USD 50 million direct investment program.
The Debrief: November, 2024
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.
KPD Consulting Successfully Defends Ekoferma Yaros Agro in Dispute with Soufflet Agro Ukraine
KPD Consulting has successfully represented Ekoferma Yaros Agro in a dispute against Soufflet Agro Ukraine, a subsidiary of The Soufflet Group.
Sayenko Kharenko Advises EBRD on EUR 35 Million Financing to Kharkiv
Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 35 million finance package to the city of Kharkiv to help tackle the impact of the ongoing war.