Sayenko Kharenko has advised the EBRD on its input into Ukraine’s new law On Amendments to Certain Legal Acts to Facilitate Attraction of Investments and to Introduce New Financial Instruments.
The new law was adopted on June 19, 2020, and will enter into force on July 1, 2020, pending the President’s signature.
“The Capital Markets Law marks a significant breakthrough towards enforceability of derivative transactions by establishing a detailed framework for operations on the derivatives market, introducing a concept of close-out netting and improving the rules on the enforceability of financial collateral,” according to Sayenko Kharenko. “This should allow Ukrainian market players and their foreign counter-parties more certainty and flexibility in using derivatives as an instrument for their hedging and investment activities, which, in turn, would make Ukrainian capital markets more attractive and competitive globally. The Capital Markets Law also provides for an improved regulation of other types of financial instruments, in particular, sets out more flexible and investor-oriented rules on bond issuances by creating a framework for collective action by the bondholders through bondholder meetings and bonds trustees.”
Sayenko Kharenko’s team was led by Partners Nazar Chernyavsky, Anton Korobeynikov, and Olexander Droug and included Senior Associate Dmytro Vasylyna and Junior Associate Sofiia-Mariia Kuzminska.
