The Ukrainian Journal of Bussines Law

[http://www.portmone.com.ua/v2/ru/services/periodicals/2533/] Counse link ANTIKA Law Firm 12, Khreshchatyk street, 2-nd floor, Kyiv , 01001 , Ukraine Phone: +38 (044) 390 09 20 Fax: +38 (044) 390 09 21 office@antikalaw.com.ua www.antikalaw.com.ua/en Arzinger 75, Zhylyanska Street., 5th floor, Kyiv , 01032 , Ukraine Phone: +38 (044) 390 55 33 Fax: +38 (044) 390 55 40 mail@arzinger.ua www.arzinger.ua Asters Leonardo Business Center, 14th floor, 19-21 Bohdana Khmelnytskoho St., Kyiv , 01030 , Ukraine Phone: +380 44 230 6000 Fax: +380 44 230 6001 info@asterslaw.com www.asterslaw.com Chadbourne & Parke LLP 25B Sahaydachnoho Street, 3 Floor, Kyiv , 04070 , Ukraine Phone: +38 (044) 461 75 75 Fax: +38 (044) 461 75 76 Kyiv@chadbourne.com www.chadbourne.com CMS Cameron McKenna LLC 6 Floor, 38 Volodymyrska Street, Kyiv , 01034 , Ukraine Phone: (044) 391 33 77 Fax: (044) 391 33 88 kyivoffice@cms-cmck.com www.law-now.com DLA Piper Ukraine, LLC 77A Velyka Vasylkivska Street, Kyiv , 03150 , Ukraine Phone: (044) 490 95 75 Fax: (044) 490 95 77 ukraine@dlapiper.com www.dlapiper.com Gvozdiy & Oberkovych 19B Instytutska Street, Office 29, Kyiv , 01021 , Ukraine Phone: +38 (044) 581 12 20 Phone: +38 (044) 581 12 21 Fax: +38 (044) 581 12 22 info@golaw.ua www.golaw.ua Ilyashev & Partners 11 Kudryavska Str, Kyiv , 04053 , Ukraine Phone: +38 (044) 494 19 19 Fax: +38 (044) 494 19 99 office@attorneys.ua www.attorneys.ua IMG Partners 1/8 Ihorivska str.,, Kyiv , 04070 , Ukraine Phone: +380 44 201-10-66 Fax: +380 44 201-10-66 office@imgpartners.com.ua www.imgpartners.com.ua International law firm Integrites 15-B Borysohlibska St.,, Kyiv , 04070 , Ukraine Phone: +380 (44) 391 38 53 Fax: +380 (44) 391 38 54 pr@integrites.com www.integrites.com Inyurpolis law firm (ILF) 14-A Skrypnyka Street,, Kharkov , 61057 , Ukraine Phone: +38 (057) 728 00 00 Fax: +38 (057) 714 06 28 office@ilf-ua.com www.ilf-ua.com Konnov & Sozanovsky 23 Shota Rustaveli Street, Suite 3, Kiev , 01019 , Ukraine Phone: +380 (0) 44 490-5400 Fax: +380 (0) 44 490-5490 info@konnov.com www.konnov.com LCF Law Group 47 Volodymyrska street, Office 3, Kyiv , 01034 , Ukraine Phone: +38 (044) 455 88 87 Fax: +38 (044) 502 55 23 info@lcfgroup.com.ua www.lcfgroup.com.ua/en/ Sayenko Kharenko 10 Muzeyny Provulok, 7th floor, Kyiv , 01001 , Ukraine Phone: +380 44 499 6000 Fax: +380 44 499 6250 info@sk.ua www.sk.ua Sokolovskyi and Partners Law Firm 25 Klinichna Street, 2nd floor, Kyiv , 03141 , Ukraine Phone: +380 44 495 1928 Fax: +380 44 275 6799 pravo@lex.org.ua www.lex.org.ua VS Litigation 16/3, M. Zhytomyrska Str., Office 28, Kyiv , 01001 , Ukraine Phone: +380 (44) 227 44 99 Fax: +380 (44) 278 31 73 Kyiv@vslitigation.com vslitigation.com CURRENT ISSUE ( June 2013 ) In focus – Alternative Dispute Settlement Public demand for effective dispute settlement is great as never before. In an increasingly globalized world, national jurisdictions are starting to compete to be credible dispute resolution platforms. To a certain extent, this trend could be considered as a sort of “test for legal maturity”… Expert Opinion Alternative Dispute Resolution in International Commercial Law Dr. Mostafa Noshadha Today, one of the most important aspects in international commercial agreements is how to resolve dispute with regard to understanding the interoperation or acting agreement provision. Commercial disputes influence speed, privacy, information, investment and financial security. When creating such regulations and agreements, we must consider the effects of such regulations on the flow of business. To select the most effective method, we should be aware of: commercial dispute resolution mechanism, Advantages and disadvantages of an agreement according to circumstances and the subject... In Re Arbitration-Related Matters in Ukrainian National Courts: Current Practice & Trends Pavlo I. Byelousov, Myroslava Y. Savchuk Arbitration is perceived to be the fast and efficient method of disputes resolution. Since it is based on the consent of parties, this method also gives more autonomy and flexibility to the parties during the course of proceedings. Due to its advantages, arbitration has gained wide acceptance as the preferred method of dispute resolution, especially in international transactions where none of the parties wants to be subject to the other party’s national court system… Perpetual Development of Permanent Justice: the New 2012 Arbitration Rules for the Permanent Court of International Arbitration Iryna S. Glushchenko The Permanent Court of International Arbitration (hereinafter — the PCA) is an international organization established following the first Hague Peace Conference and pursuant to the 1899 Hague Convention for the Pacific Settlement of International Disputes. The aim of the PCA was formulated as “facilitating an immediate recourse to arbitration for international differences”. Now administering an extensive number of commercial, investment, environmental and human rights disputes the PCA seems to fulfill its own goal of serving as a juncture between public and private international law… How Much does Arbitration Cost? Yaroslav A. Petrov, Oksana V. Varakina It is an accepted fact that international arbitration costs are much higher than litigation costs, notwithstanding that international arbitration is much more suitable for resolution of disputes arising from international transactions. To avoid unreasonable expenses in the course of arbitration the parties should assess and consider potential costs of arbitration at the contract’s negotiation stage. For example, sometimes in sale contracts, where the price of the goods does not exceed USD 30,000-40,000, parties include arbitration clauses with a reference to the Rules of a rather expensive arbitration institute. In such case, there is a risk that costs of a potential arbitration will exceed the value of the contract itself. Consequently, it is advisable for low price contracts to choose an arbitration institution with moderate arbitration costs… Arbitration Funding Triangle: When Your Claim Needs Finance Ganna A. Fokina, Dmytro V. Galagan Every company would be unhappy if the counterparty breached a contract or the host government expropriated an investment. However, not every company can afford the rising costs of international arbitration. This article offers guidance on what third party funding is, when to consider this type of financing, and some tips to take into account while choosing the finance provider and securing the funding… Cover Story Create the Right Moments Mykhailo Spasov Even in uncertain economic times the establishment of ambitious businesses is that challenge which often predicts more opportunities than at the stage of confidence and growth. The legal market is obviously no exception. Vox Legum is a young dynamic independent Ukrainian law firm, which focuses its practice on provision of quality solutions regarding banking law, bankruptcy, corporate law, pharmaceutical law, real estate and taxation issues, as well as on dispute resolution… Hot Issue Energy and Natural Resources — a Juicy Sector for Arbitration and ADR Oleksandr A. Gudko The past few years have seen a significant growth in international disputes that arise in the energy and natural resources sector. Companies engaged in power generation, mining and oil and gas businesses come across a diverse range of disputes — from a dispute over a delay in delivery by a local contractor to a multi-million dollar dispute under a production sharing contract involving a state… Argument Mediation as an Alternative Way of Settling Corporate Governance Disputes Tatiana I. Zamorska, Artem V. Frolov A number of large-scale corporate scandals that occurred during the last decade (Enron and Parmalat collapses at the beginning of the XXI century followed by default of Lehman Brothers just a couple of years later) have substantially swayed the level of trust in companies and corporations on the part of investors and once again highlighted the importance of having a strong and effective corporate governance system within a company. Any effective system of corporate governance shall, in its turn, provide for an effective mechanism to resolve existing and potential conflicts within the company… Venue St. Petersburg — the Legal Capital of Russia The III St. Petersburg International Legal Forum, which was held in the Northern capital of Russia on 15-18 May, became the most anticipated professional fora of the year. The number of delegates exceeded 2500, covering 52 countries, while the official delegations were led by top officials. The program was quite diverse and consisted of 56 sessions, covering general business law, especially designed professional discussions on high-profile practices, as well as socially important topics… Crux Sets and Goals Corporate law queries used to be bread and butter for law counsels in Ukraine. In addition, this practice area is quite a favorable field for innovations designed by lawyers to meet the needs of clients. No wonder, that the current discussion panel examines corporate developments and demands. Oksana Kneychuk Avoidance of an excessive tax burden has historically been one of the most important goals set by Ukrainian businesses in the course of corporate restructuring. Our recent experience shows that in many cases asset protection is becoming a decisive criterion. As a result, while choosing a reliable foreign jurisdiction Ukrainian clients evaluate many factors other than financial criteria. In some cases a choice is made in favor of a reputable holding jurisdiction (e.g. Luxembourg, Hong Kong) having no double tax avoidance treaty with Ukraine… Yaroslav Romanchuk Business is the property of principals, while the right to run a property is delegated to management. The subject of corporate management is control of execution of corporate activity. A breach of the system of cooperation between owners, shareholders and management of a company as well as other interested persons is the most widespread problem that later forces the owner to turn to external legal counsel… Igor Reutov The remedies available for minority shareholders in Ukraine are limited to a certain extent. Unfortunately, Ukrainian legislation does not provide regulation for derivative claims or special protection against unfair prejudice, which are at disposal of the minority in other jurisdictions. Nonetheless, the On Joint Stock Companies Act of Ukraine (the Act) offers some definite mechanisms aimed at protecting the interests of the minority… Alexander Tretiakov The procedures of establishing a foreign company’s representative office and subsidiary company differ greatly in Ukraine. The subsidiary company is established according to the general provisions of any company founding and after several reforms in this field the procedure is relatively simple and transparent. The registration procedures (including the registration in the tax office) usually takes up to two weeks, but this term may be shortened further in case the founders have prepared all the necessary documents in advance… Roman Drozhanskyi Current Ukrainian legislation does not stipulate a separate company form called “joint venture”, so this is rather an economic concept, meaning a company which has a foreign share in its capital. Therefore, there are no specific legal provisions benefiting or limiting the rights of such companies… HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS SPONSORSHIP & ADVERTISING GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ADVERTISE GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT BANNER EXCHANGE Copyright © 2003-2013 by Yuridicheskaya Practika Publishing. All rights reserved.