Vasil Kisil & Partners has successfully represented Rost Agro in a UAH 33 million tax dispute before the Court of Appeal.
CMS Advises Dutch Good Growth Fund on Regulatory Approval for Acquisition of Bank Lviv
CMS has advised Dutch Good Growth Fund on obtaining the necessary regulatory approval for its acquisition of a significant shareholding in the joint-stock company Joint Stock Bank Lviv. CMS has also advised Bank Lviv on certain transactional documents in the acquisition.
Digest of Recent Legislative Developments in the Fields of Energy and Natural Resources
A summary of recent legislative developments in the fields of energy and natural resources in Ukraine.
National Bank of Ukraine Updates Several Foreign Currency Restrictions
On 11 July 2024, new foreign currency (“FX”) easings came into effect to increase Ukraine's investment attractiveness and raise private foreign capital. Specifically, the latest package of amendments, introduced by Resolution No. 83 of the National Bank of Ukraine (the “NBU”) dated 09 July 2024 (“Resolution No. 83”), includes the following FX liberalization measures.
New Grounds for Termination of Employment and Suspension of Employees
On 25 April 2024, Ukrainian Parliament adopted the Law of Ukraine “On Amendments to the Labour Code of Ukraine on Establishing Additional Grounds for Termination of Employment Agreement at the Initiative of the Employer and Certain Other Issues” (the “Law”), which is aimed at strengthening the protection of Ukraine's national security.
Ukraine Introduces Special Auctions for the Ancillary Services Market, Introducing Special Auctions for Providing the Power System with Frequency and Active Power Control Reserves
The National Commission for State Regulation of Energy and Public Utilities (NEURC) issued Resolution No. 1172 on 26 June 2024 "On Approval of Amendments to Certain NEURC Resolutions. This resolution allows for the signing of five-year agreements in the ancillary services market by introducing special auctions.
NATO Summit Preview – EUR 40 Billion in Military Aid for Ukraine in 2025 and New NATO Command to Coordinate Military Aid and Training for Ukraine are Priority Deliverables
Outgoing NATO Secretary General Jens Stoltenberg has secured the unanimous support of NATO country ambassadors for €40 billion (approximately US$43 billion) in lethal and non-lethal military aid to Ukraine in 2025. NATO leadership is expected to approve the agreement during the annual NATO Summit, which will take place July 9-11, 2024 in Washington, DC.
Data Protection Laws and Regulations in Ukraine
Contributed by Baker McKenzie.
Ukraine’s Energy Regulator Adopts Regulation for Special Auctions for Ancillary Services to Boost Investment in Energy Generation and Storage
On June 26, 2024, Ukraine’s National Energy and Utilities Regulatory Commission (NEURC) adopted the Resolution "On Approval of Amendments to Certain Resolutions of the NEURC", which introduces special auctions for ancillary services. The Resolution aims to facilitate much-needed investment into energy generating capacity and energy storage units in Ukraine, and will ultimately contribute to better grid balancing in the country.
Schoenherr Advises Schwarzueller on Partnership with Krone
Schoenherr has advised the Schwarzmueller Group on a partnership with the Krone Group. CMS reportedly advised the Krone Group.
United States and Ukraine Sign 10-Year Security Agreement
The United States and Ukraine have entered into a 10-year bilateral security agreement (“Security Agreement”), providing a framework for continued US support for Ukraine’s defense and deterrence capabilities, as well as for Ukraine’s economic recovery and reconstruction.
Ukraine: The Appeals Chamber of the Ukrainian National Office for Intellectual Property and Innovations Has Resumed Operations
On 18 June 2024, by Order of the Ukrainian National Office for Intellectual Property and Innovations ("UANIPIO") No. 93/2024, the personnel of the Appeals Chamber of the UANIPIO ("Appeals Chamber") was approved. Notwithstanding the challenges associated with the war, the Appeals Chamber has resumed work.
Dentons Advises DRI on Acquisition of 126-Megawatt Solar Park in Romania
Dentons has advised DRI on the acquisition of a 126-megawatt solar park project in Vacaresti Dambovita county, Romania from local developers. Glodeanu & Partners reportedly advised the sellers.
Leading the Way: Advancing Inclusion, Diversity, and Equity in the Legal Profession in Central and Eastern Europe
Inclusion, diversity, and equity (ID&E) are fundamental principles that shape the fabric of modern societies and industries. Within the legal profession, these principles not only reflect our commitment to justice and equality but also drive innovation, foster creativity, and enhance client service. In Central and Eastern Europe (CEE), where the gradual democratization and opening of societies since the 1990s has largely driven greater acceptance of diverse perspectives and communities, it is imperative for lawyers and law firms to take a leading role in advancing ID&E. In this article, we discuss how investing in inclusion, diversity, and equity can help your firm unleash the full potential of your workforce, foster creativity, and drive sustainable success.
Sayenko Kharenko Advises EBRD on EUR 25 Million Financing to Restore Mykolaiv Drinking Water Supply Infrastructure
Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 25 million finance package to City Communal Enterprise Mykolayivvodokanal.
Squire Patton Boggs and CMS Advise on EBRD and Goldbeck Solar Investment Joint Venture
Squire Patton Boggs has advised the European Bank for Reconstruction and Development on establishing a renewable energy joint venture company with Goldbeck Solar Investment – Goldbeck Solar Investment Ukraine. CMS advised Goldbeck Solar.
Sayenko Kharenko Advises EBRD on EUR 60 Million Biofuels Financing in Ukraine
Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 60 million loan to Lan-Oil for the construction of a greenfield and privately-owned biofuels project in Ukraine.
Ukraine: Cabinet of Ministers Updates Rules on Reservation of Persons Liable for Military Service
The Cabinet of Ministers of Ukraine issued Resolution No. 650 on "Some Issues with Reservation of Persons Liable for Military Service during Martial Law", dated 5 June 2024 ("Resolution"), which came into force on 8 June 2024.