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Halfway through 2019 Ukraine has already seen major changes in its energy sector’s legal framework, including the effect of the recent decision of the Constitutional Court of Ukraine involving the legal status and decision-making authority of the Ukrainian energy market regulator (the “Regulator”). The shockwaves are likely to go far beyond 2019.

Read more: The Gordian Knot of Ukrainian Gas Transmission System Unbuilding

Cross-border commercial disputes often raise a number of issues concerning the treatment of foreign litigants in domestic proceedings. A complete overhaul of Ukraine’s procedural rules back in 2017 included a number of specific rules for foreign litigants that they must consider, especially when they have no local presence or assets in Ukraine.

Read more: Foreign Litigants in Ukrainian Proceedings: Challenges and Opportunities

In February 2019 CEE Legal Matters reported that Integrites and K&L Gates had advised Norwegian utility-scale wind power developer NBT and Paris-based renewable energy independent power producer Total Eren on their entrance into a framework agreement with a syndicate of foreign lenders, including the EBRD and the Nordic Environment Finance Corporation, for the construction of the Syvash wind farm – one of the largest in Europe. Redcliffe Partners and Clifford Chance advised the lenders and J.P. Morgan Securities Plc as debt coordinator.

Read more: Inside Out: Framework Financing Agreement for Syvash Wind Farm Ukraine

In “The Corner Office” we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What was the most difficult or unpleasant experience you had terminating someone’s employment?”

Read more: The Corner Office: The Most Difficult Lay-Off

More and more companies in the TMT sector are looking at Ukraine as a potential market, in the process putting aside the negative image formed during the first decades after the country declared its independence in 1991.

Read more: Entering the Ukrainian Market: Managing Compliance Pitfalls for OTT Providers

Sayenko Kharenko's antitrust team has helped obtain merger clearance by the Antimonopoly Committee of Ukraine for the Wabtech Corporation's global acquisition of GE’s Transportation business.

Read more: Sayenko Kharenko Helps Obtain Ukrainian Merger Clearance for Wabtec Merger with GE Transportation

CMS has advised EBRD on its issue of a USD 35 million loan to the Louis Dreyfus Company, a global agricultural trader, to help it establish its own railcar logistics business in Ukraine. Everlegal provided Ukrainian law assistance to lead legal counsel Orrick in advising the Louis Dreyfus Company on the deal.

Read more: CMS, Orrick, and Everlegal Advise on EBRD Green Logistics Loan to Louis Dreyfus

Sayenko Kharenko has advised the EBRD on its provision of a four-year syndicated loan to JSC “The State Export-Import Bank of Ukraine" to support renewable energy and energy efficiency investments in Ukrainian projects that are compliant.

Read more: Sayenko Kharenko Advises EBRD on Financing to Ukreximbank for Green Investments in Ukraine

Vasil Kisil & Partners has advised Odasco on the acquisition of a 4.9-megawatt solar plant in the Cherkasy region of Ukraine from unidentified private sellers.

Read more: Vasil Kisil & Partners Advises Odasco on Acquisition of Solar Plant in Cherkasy Region of Ukraine

Avellum has acted as Ukrainian legal counsel to MHP Lux S.A. on its USD 350 million offering of 6.250% notes due 2029. Sayenko Kharenko and Latham & Watkins advised joint lead managers and joint book-runners ING Bank N.V., London Branch, and J.P. Morgan Securities.

Read more: Avellum and Sayenko Kharenko Advise on MHP's USD 350 Million Eurobond Issue

Simmons & Simmons and Integrites have advised NBT, a Norwegian wind power developer and the largest foreign investor in Ukraine, on its successful negotiations for Engineering, Procurement and Construction contracts with China Electric Power Equipment and Technology Co, Ltd. for the 300 MW second stage and 450 MW third stage of the Zophia Wind Park in Ukraine (“Zophia II” and “Zophia III” respectively).

Read more: Simmons & Simmons and Integrites Advises NBT on EPC Contracts for Europe’s Largest Onshore Wind Farm

The Ukrainian legal market is living in times of change and promise. Being a successful law firm in Ukraine is not an easy task, but for those who know the rules, the changing landscape presents more opportunities than threats. So, what does the Ukrainian legal market look like now?

Read more: Guest Editorial: See You Soon, Ukraine!

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


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