The COVID-19 pandemic is making a significant impact on international commerce with Ukrainian counterparties involved. Interrupted supply chains of goods (especially if they were partly or fully produced in China), inability to provide services, perform works during quarantine, and to conduct regular business operations are just a few problems that lots of companies have encountered.
The LCF Law Group has announced the integration of teams from both the Evris Law Firm and Sheverdin and Partners.
Since mid-2019 Ukrainian authorities have been bringing to public fora various suggested amendments to Ukrainian “green” (feed-in) tariff framework. The most recent proposal from the Ministry of Energy and Environmental Protection mentioned creating an option with voluntary 5-25% reductions to the existing tariffs simultaneously with prolongation of their lifespan.
Ukraine's Esquires Attorneys at Law has successfully represented Trade and Logistic Complex Arctic LLC in a dispute involving a former director of the company's unlawful transferring of equipment related to the supply of electricity to a complex of storage and food production facilities covering a total area of more than 20 thousand square meters to the ownership of another company that he was affiliated with.
Avellum and Watson Farley & Williams have advised the EBRD on a long-term secured loan of up to EUR 52.5 million to Novi Biznes Poglyady.
Asters has advised British oil and gas company Regal Petroleum on its up to USD 8.63 million acquisition of Arkona Gas-Energy, a Ukrainian company holding the license to explore, develop, and produce hydrocarbons in the Svystunkivsko-Chervonolutske field, in the Poltava region of Ukraine.
Sayenko Kharenko has advised the EBRD on its provision of a four-year loan of up to EUR 15 million to OTP Leasing. The loan will be available for disbursement as a Ukrainian hrivnya synthetic and/or euro denominated facilities.
Ukrainian lawyer Dogus Gulpinar has left Ukraine's GoLaw to open Nazali Tax & Legal's Kyiv office.
The list of force majeure circumstances under Ukrainian law has changed.
Avellum has advised the Black Sea Trade and Development Bank on a long-term secured loan of up to USD 10 million to Butsefal LLC and Prometey Swiss SA.
On March 18, 2020, President Zelensky signed a package of laws regarding support of taxpayers and individuals during national quarantine (Laws No. 3220, 3219, 2538, 2539). What tax-related novelties do these laws introduce for business? See below the summary from INTEGRITES Tax and Customs team.
Sayenko Kharenko has advised OH Holding Limited on the sale of a 51% stake in the Luxoptica Group and the creation of a joint venture with Essilor Nederland Holding B.V.
Former Counsel Yulia Atamanova, who leads the LCF Law Group's International Arbitration, Commercial, and Corporate Disputes practices,. has been promoted to Partner at the firm.
Eterna Law has successfully helped PZU Zycie complete an insurance case investigation.
Contributed by Avellum
Redcliffe Partners, Clifford Chance, and over 100 law firms around the world have participated in a global mapping survey for the United Nations Special Rapporteur for Human Rights and the Environment related to the existence (or non-existence) of a fundamental human right to a healthy environment.
Starting from October 21, 2019 a new bankruptcy code entered into force in Ukraine substituting the law that had been in effect since 1992 (the «Law»). New legislation is aimed at making the procedure more efficient and expedient, as well as at granting the creditors more control over the insolvency process.
On February 1, 2020, the new Law on Lease of State-Owned and Municipal Property (the “Law”) came into force. The Law substitutes the old one that has been in use since 1992 and launches a fundamentally new mechanism for the lease of state/municipal property which aim to: