CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
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, 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.
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.
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.
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 has advised VD Group on its acquisition of the LvivTech.City project from UFuture Holding.
Avellum has advised the Ukraine-Moldova American Enterprise Fund on launching its USD 50 million direct investment program.
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 has successfully represented Ekoferma Yaros Agro in a dispute against Soufflet Agro Ukraine, a subsidiary of The Soufflet Group.
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.
Starting on 1 January 2025, the parallel import of medicines into Ukraine will come into force, allowing dealers that are authorised by manufacturers of medicinal products to import medicines in parallel with said manufacturers. The expected outcomes of this new regime are higher competition and lower prices for relevant medicines.
Kinstellar has advised Orbico Group on its acquisition of a controlling stake in SAV 92 from Asnova Holding.
Avellum has advised the Ministry of Finance of Ukraine on a CAD 400 million concessional loan from Canada.
Sayenko Kharenko has advised Getin Holding on the sale of JSC Idea Bank to TAS Group.
In recent years, Ukraine has experienced a significant shift towards digitalization, with the advent of electronic identification (eID) means and trust services being a pivotal element of this revolutionary transformation. As Ukraine endeavours to embrace technology-driven solutions, eID means and trust services - enabling, inter alia, electronic signatures (eSignatures) - have emerged as readily accessible and efficient alternatives to traditional handwriting methods, thereby streamlining processes, minimizing reliance on paper-based documentation, and eliminating the need for the physical presence of signatories in one place.
Vasil Kisil & Partners has advised MacPaw Group on restructuring its corporate group.
Former Misechko & Partners Partner Stanislav Skrypnyk has joined Hillmont Partners as Counsel in the firm's Dispute Resolution practice.
Former Kinstellar Ukraine Partners Margarita Karpenko, Alla Kozachenko, Galyna Zagorodniuk, and Illya Sverdlov have established Imagine Lawyers.
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Firm's website: www.avellum.com
