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As 2023 comes to a close, reflections on the year reveal challenges and achievements across Romania, Bulgaria, and Ukraine. Tuca Zbarcea & Asociatii Managing Partner Gabriel Zbarcea, Schoenherr Bulgaria Local Partner Ilko Stoyanov, and Avellum Managing Partner Mykola Stetsenko share their thoughts on what kind of a year it has been.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As we bid farewell to 2023, this time around we turn our attention forward: What is your one main wish for 2024 and what do you see as the biggest potential risk?

An in-depth look at Armen Khachaturyan of Asters covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

The Ukrainian economy has endured unprecedented shocks resulting from the unprovoked invasion by Russia, which led to the seizure of assets in the occupied territories, massive destruction of or damage to assets throughout Ukraine, closure of a number of markets, disruption of various transport routes, huge losses in trade, flight of capital and human resources, etc.

Avellum has advised the Ministry of Finance of Ukraine on a EUR 37.6 million export loan provided under the framework agreement between the Governments of Ukraine and France with the funds being directed towards purchasing rails for Ukrainian Railways from French manufacturer Saarstahl-Rail.

On 18 October 2023, the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding Mandatory Registration and Use of Electronic Accounts in the Unified Judicial Information and Telecommunication System (UJITS) or its separate subsystem (Module) that provides for the exchange of documents" dated 29 June 2023 No. 3200-IX (hereinafter referred to as the Law) came into effect. The Law introduces changes to the provisions of procedural codes, particularly the Civil Procedural Code of Ukraine, the Commercial Procedural Code of Ukraine and the Code of Administrative Procedure of Ukraine.

Integrites won the public tender and signed the procurement contract to become the legal advisor of NJSC Naftogaz of Ukraine on matters related to the activities of the company's supervisory board and its committees throughout 2024, and will work with the UK's Simmons & Simmons as co-executor under the contract.

On 24 January 2024, the NEURC adopted the Resolution "On Amendments to Certain Resolutions of the National Energy and Utilities Regulatory Commission (NEURC)" (the "Resolution") to bring the secondary legislation in line with the Law of Ukraine "On Amendments to Certain Laws of Ukraine on Restoration and Green Transformation of the Energy System of Ukraine" No. 3220-IX dated 30 June 2023 (the "Law on "Green" Transformation").

The Government of Ukraine introduced draft law No.10449 to the Parliament, aiming to improve certain issues of mobilization, military records and military service. The published version of the draft law is not final, however, as of now, the Government is proposing the following changes to the current legislation.

Asters, working with Brodies LLP, has advised the Export Credit Agency of Ukraine on developing a new war risk insurance mechanism for the international export of Ukrainian goods through the Black Sea. Watson Farley & Williams reportedly advised the Ministry of Economy of Ukraine. Norton Rose Fulbright reportedly advised arranger Marsh Limited.

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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