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Avellum, working with White & Case, has advised the Ministry of Finance of Ukraine on the restructuring of Ukraine’s sovereign debt. Sayenko Kharenko, working with Latham & Watkins, advised JP Morgan in its role as solicitation agent. Weil Gotshal & Manges advised some of the GDP-warrant and bondholders.

The Laws of Ukraine "On Amendments to Certain Laws of Ukraine Regarding Priority Reform Measures in the Field of Town-Planning” No. 2254-IX, dated 12 May 2022 (“Law 2254”) and "On Amendments to Certain Legislative Acts of Ukraine Regarding Regulatory Peculiarities of Land Relations under Martial Law” No. 2247-IX, dated 12 May 2022 (“Law 2247”, hereinafter together with Law 2254 – “Laws”) came into force more than a month ago.

Over the last years the Ukrainian legal community has been actively discussing the developments in the antitrust reform and making practical efforts to implement it. MPs, the Antimonopoly Committee (the AMC) and other state bodies, international organizations, domestic and foreign antitrust experts have been involved in this process. This article provides an overview of certain changes that will further contribute to the development of the Ukrainian antitrust and competition legislation, and which have already been reflected in draft laws. Most of them were published in the form of recommendations provided to Ukraine by the OECD (Organisation for Economic Co-operation and Development) several years ago. 

On July 7, four leading lawyers from Austria, the Czech Republic, Hungary, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the increasing prominence of ESG issues and their impact on M&A transactions, due diligence procedures, and the role of the lawyers themselves.

On 15 March 2022, the Parliament of Ukraine passed Law of Ukraine “On Organisation of Labour Relations under the Martial Law” No. 2136-IX, dated 1 July 2022 (“Law 2136”). Law 2136 was intended to define the aspects of labour relations during martial law.

March 2022 was a breakthrough month for the virtual assets market in Ukraine. With the help of Ukraine‑based Everstake and Kuna, the Ministry of Digital Transformation of Ukraine set up a fund to accept donations in crypto assets to primarily support Ukraine’s military needs. According to the Ministry, Ukraine’s government has raised over USD60 million in crypto donations to date. Also, Unchain Ukraine, a project of Ukrainian blockchain activists, launched a card that has been marketed as ‘the first charitable cryptocurrency card’ powered by Weld Money and Unex Bank. The crypto assets raised are exchanged into UAH and made available to women and children in need using Unchain Help Card, a virtual card issued by Unex Bank.

On 27 May 2022, Law of Ukraine “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine Regarding the Peculiarities of Tax Administration of Taxes, Fees and Unified Social Contribution During Martial Law and the State of Emergency” No. 2260-IX, dated 12 May 2022 (the “Law”), entered into force. The Law introduced several changes to the taxpayers’ rights and obligations during martial law.

On February 15, 2022, the Ukrainian Parliament adopted draft Law No. 5090 on Amendments to the Budget Code of Ukraine on the Regulation of Budgetary Relations in the Implementation of Contracts Concluded within the Framework of Public-Private Partnerships, Including Concession Contracts (Law 5090). The law is vital for the functioning of public-private partnerships (PPP) in the road and highway reconstruction sector since it enables public partners to provide guarantees of fulfillment of their long-term obligations under relevant PPP projects.

Asters, working pro bono with Quinn Emanuel Urquhart & Sullivan, has advised the Ministry of Justice of Ukraine on the inter-state proceedings being brought by Ukraine against the Russian Federation before the European Court of Human Rights.

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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