The Ukrainian Journal of Business Law

[http://ukrainianlawfirms.com] 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 Senator Business Center, 32/2 Moskovska street, 10th floor, Kyiv , 01010 , 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 DLF attorneys-at-law Torus Business Centre, 17d Hlybochytska Street, Kyiv , 04050 , Ukraine Phone: +380 44 384 24 54 Fax: +380 44 384 24 55 info@dlf.ua www.dlf.ua GOLAW 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 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 LATEST NEWS April 18, 2018 KPMG in Ukraine transforms its approach to communication with clients KPMG continuously improves its own business processes through establishing the most comfortable and efficient conditions for cooperation with their clients. In 2018, it was decided to transform the approach to communication with clients and dispel th… CMS advised ING on USD 30 million revolving facilities to Astarta CMS has advised ING, one of its key clients, in connection with a bilateral USD 30 million revolving facilities to Astarta group for their export operations. The financing included USD 25 million pre-export revolving loan facility and USD 5 million m… April 17, 2018 Kinstellar strengthens its real estate team Kinstellar is delighted to announce that Oleg Matiusha has joined its Kiev office as counsel and head of the local real estate practice. Oleg Matiusha has 15 years of legal experience and is regarded as one of the top lawyers in Ukraine concernin… Read more news CURRENT ISSUE ( April 2018 ) In focus – Asset Tracing Evidence of unexplained wealth used to be a second nature in emerging markets. And Ukraine is definitely a very illustrative example of different schemes and multijurisdictional pyramids. It still remains to be seen whether electronic declarations will change the situation somewhat. WeТve got used to media stories when family members and relatives of a broad range of officials expectedly turned out to possess big assets. Expert Opinion Tracing and Following Assets Ч the Location and Identification of Stolen Assets in English Law Adam Greaves This article is a summary overview of the intricate, and frequently overlapping, common law and equitable rules relevant to claimants in complex civil fraud claims for identifying and pursuing claims arising from consequential sophisticated money laundering operations which follow the original act of fraud. In Re Asset Tracing: a Tool, not a Goal Nickolas Likhachov, Olga Pygol Asset tracing is very popular now, but it still gives rise to many questions. Amid the most recent trends and Ukrainian realities, both the business sector and government are increasingly interested in the engagement of asset tracing companies. Our practice shows that these services are mostly sought by banks. Setting up the Puzzle Ч Tracing Funds Dissipated From Banks Volodymyr Yaremko, Vladlena Lavrushyna Once your claim is confirmed by the court or an arbitral tribunal, how do you turn it into cash? It is quite rare that court judgements or arbitral awards are performed voluntarily in Ukraine. Enforcement is a part of debt recovery, which is often, actually, the beginning, and far from the end, of chasing the debtor. Piercing the Corporate Veil in Ukrainian Companies: not a Mirage Taras Dumych When considering setting up or acquiring a company, a businessperson or an investor usually views this step as creating something separate from the founder or the acquirer. By holding a separate entity, one also envisages not just the separate personality of the company from its shareholder, whether the latter is an individual or another company, but also a separate liability shield between the companyТs liability and the liability of its shareholder. This perception is rightly based on the universal legal concept of a companyТs separate personality. News Deals AVELLUM advised Ministry of Finance of Ukraine Asters advised General Electric JSC Lekhim buys out shares of minority shareholders in PJSC Technolog AVELLUM acted as the Ukrainian legal counsel to ING Bank Victoria Gardens shopping mall changes owner † Cases Stockholm arbitration satisfied Naftogaz demands to Gazprom Court says Khreshchatyk Bank bankruptcy illegal High Court of London ordered Kolomoisky and Bogolyubov structures to provide details on transactions involving Privatbank † Draft Draft Law on Supreme Anti-Corruption Court adopted in first reading Code of Ukraine on Bankruptcy Procedures Reform in the field of dumping and trade investigations Draft Law on tax on withdrawn capital presented † Law digest National Bank eases administrative restrictions Pharmacies activities to be inspected † Biznews Sanctions Sanctions imposed on four banks Advertising Google prohibited cryptocurrency advertising Tax EU updated blacklist of tax havens Ukraine and Netherlands agree double taxation avoidance deal Trade Policy USA imposed duties on steel and aluminum M&A Amazon buys startup Ring Oil and gas Well drilling started under UkrGasVydobuvannya order † Chamber News Business community met with President of Ukraine and Prime Minister of Ukraine On 12 March 400 representatives of UkraineТs business community from 3 business associations Ч American Chamber of Commerce in Ukraine , European Business Association , and Ukrainian Entrepreneurs Union Ч met with President of Ukraine Petro Poroshenko , Prime Minister of Ukraine Volodymyr Groysman and Ukrainian state authorities. The meeting was devoted to discussing progress on reforms, recent legislative initiatives on exit capital tax and the Draft Law On Currency . Cover Story Detailed Strategy Throughout the past year there has been a steady trend of debt recovery cases which are accompanied by criminal proceedings. As a result, asset tracing is very important to white collar investigations, particular in so-called money driven crimes. As our fruitful conversation with partners of AVER LEX Attorneys at Law, Vitaliy Serdyuk and Artem Drozdov revealed, asset tracing and recovery is very painstaking and precise work that needs both strategic thinking and attention to detail. We asked them to go through the existing methods, gaps in the law, obstacles in the system, recent attempts to improve the process. Global Legal Update French Anti-Corruption Law Sapin II: Challenges for French Companies Operating in Ukraine Dmytro Anufriiev, Viktoria Samoilenko A significant number of companies operating in Ukraine are closely monitoring their compliance with international anti-corruption legislation, as violation of this legislation can bring not only reputational damage but also significant fines. Until recently, FCPA ( Foreign Corrupt Practices Act ) and UKBA ( United Kingdom Bribery Act ) were the most significant acts prohibiting corruption abroad. Crux Legal Digest The previous month was notable for a number of legislative initiatives, among which are cancelation of the requirement for in-depth analysis of financial operations of subsidiaries and affiliated companies-residents of international corporations from the list of Forbes Global 2000; extension of options to repatriate dividends on corporate rights and shares accrued for 2017 for foreign investors; approving a new prudential standard for Ukrainian banks Ч Liquidity Coverage Ratio; suspension of tax bills registration and calculations of adjustments in the Unified Register. Our team also remembered to ask experts about suggested draft laws On Bankruptcy Procedures No.8060 ; On the High Anti-Corruption Court No.7440; On Amendments to the Tax Code of Ukraine Regarding Tax on the Withdrawn Capital and others. † Subscribe Subscribe to The Ukrainian Journal of Business Law right now and enjoy the most relevant issues on doing business in Ukraine on your device or in print. All this for just USD 9.99 a month. Sign In E-mail Password Remember Me Reset password Subscribe/Register HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ANALYTICS SPONSORSHIP & ADVERTISING GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ADVERTISE GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT BANNER EXCHANGE Copyright © 2003-2017 by Yuridicheskaya Practika Publishing. All rights reserved.