On 22 June 2023, the Law of Ukraine on Amendments to Certain Legislative Acts of Ukraine on Optimizing the Operations of the State Property Fund of Ukraine, Increasing the Effectiveness of State Property Management and Improving the Effectiveness of Sanctions Policy ("Law") became effective.

With a new cryptocurrency regulation in the legislative pipeline, Ukraine's anti-aggression measures are also ramping up, presenting even more uncertainties and challenges for all business sectors in the country and keeping lawyers on their toes, according to Sytnyk & Partners Counsel Artem Sokurov.

With effect from 16 May 2023, Ukrainian borrowers are allowed to make payments from Ukraine abroad to repay and service certain
cross-border loans from foreign lenders. This applies to the loans that are:

Dentons has advised Farmak on a series of acquisitions from a portfolio company of private equity house Novator. 

B2RLaw has advised UK-based construction equipment supplier CMT Group on the supply contract and the separate donation contract with the Polish Government Agency for Strategic Reserves for humanitarian aid to Ukraine in the form of power generators. The EUR 27 million contract was financed under the EU's Civil Protection Mechanism.

On June 7, 2023, the Arbitration Association of Central and Eastern Europe – ArbCEE – was officially launched in Bratislava.

The laws of Ukraine define force majeure as an extraordinary and unpreventable event, man-made or act of God, which objectively makes impossible the performance of contractual obligation(s) by one or both parties to a contract. Force majeure exempts a non-performing party from liability (penalties) for breach of contractual duty if caused by force majeure rather than from the performance of contractual obligations.

Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.

CMS has advised the European Bank for Reconstruction and Development on its acquisition of a 35% stake in the Lviv M10 industrial park project in Western Ukraine, developed by Dragon Capital. Aequo reportedly advised Dragon Capital.

Contributed by Arzinger.

At the end of March, the Antimonopoly Committee of Ukraine (the "AMC") published its Annual Report for 2022 (the "Report").

Integrites has been providing pro bono legal advice to the military personnel protecting Ukraine in the war against Russia, as well as to members of their families.

Ilyashev & Partners has provided pro bono legal support to the family of a fallen Ukraine's Armed Forces soldier in receiving UAH 15 million in financial compensation.

Asters has successfully defended the interests of the Home Box Office company in a dispute before Ukrainian courts regarding the production and distribution of its Chornobyl limited series in the country.

On 11 April 2023, the President of Ukraine signed Law of Ukraine “On Collective Bargaining Agreements and Contracts” No. 2937-IX, dated 23 February 2023 (“Law”).

The Ministry of Infrastructure of Ukraine is to resume work leading up to the grant of concession of three terminals of the Chornomorsk seaport, one of the largest seaports in Ukraine. In particular, the concession is to cover the first (cargo) terminal, the container terminal, and the fifth (railway and ferry) terminal.

On 17 May 2023, at the Council of Europe Summit, the European Union and 43 other countries signed the agreement on the Register of Damage Caused by the Aggression of the Russian Federation Against Ukraine ("Register").

Avellum, working with Freshfields Bruckhaus Deringer, has advised Aristocrat on its USD 1.2 billion acquisition of NeoGames. Latham & Watkins advised NeoGames.