The Ukrainian Journal of Business Law

[https://pravo.ua/event/court2020/] 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 CURRENT ISSUE ( May-June 2020 ) In focus – Mergers & Acquisitions The pandemic spring of 2020 entailed a widespread pause in global M&A activity. Countries have tightened their borders, while decision-makers are not able to travel and explore investment opportunities. The traditional M&A market has certainly been disrupted, experiencing specific consequences across industries. Many sectors, for example, travel, hospitality and aviation transport, faced severe drops, which may result in consolidations and solvencies. Expert Opinion Vendor DD: Why Does Your Business Need it? Yuliia Kylchynska Due diligence is a very important part in every M&A transaction. During the performance of due diligence, the purchaserТs legal, financial, tax and technical advisers review the provided documents and information to identify the key issues and risks associated with the target company and the business. The results of due diligence usually impact a deal structure, purchase price and commercial decisions of the parties, because risks identified during due diligence are then addressed in transactional documents. In Re M&A During COVID-19. General Advice Oleksandr Fefelov, Olga Samoilenko This article is to address two aspects of M&A in Ukraine in the face of the outbreak of global disaster by the name of COVID-19: (a) responding to the challenges posed by government actions to overcome pandemic upon pending M&A transactions; and (b) raising the opportunities provided by new legislation on privatization meant to fill in the niche of decreased M&A activity in Ukraine (should we consider privatization to be one form of M&A). The Impact of Corporate Governance on M&A Transactions Taras Dumych Corporate governance has started playing a greater role not only in the day-to-day life and operations of companies, but also on those occasions when companies are involved in M&A transactions as sellers, acquirers or targets. Ukrainian corporate governance regulations and practices are still developing. However, for quite some time already, it was arguably the corporate governance side of the story that was responsible for the success or failure of many of UkraineТs landmark businesses. M&A Deals in UkraineТs Renewable Energy Sector Marta Halabala In 2019 the world saw great interest on the part of energy giants aggressively entering the renewable energy market. We see such trends as the importance of renewable energy reflects the ambition of stakeholders throughout the value chain to increase exposure to renewables and raise the share of renewables in the energy mix. News Deals Asters advised EBRD on providing loan to Lantmännen Axa INTEGRITES advised Sibelco on asset acquisition in Ukraine AVELLUM advised on acquisition of 33% stake in Ocean Plaza by UDP Cases Kostiantyn Zhevaho loses appeal against NBU on refinancing of debt Privatbank lost suit against offshore companies owned by Surkis brothers Privatbank claim against ex-owners will be considered on merits in High Court of London Supreme Court refused to return Dniproavia into state ownership EU Court†rejected Nord Stream 2 AGТs lawsuits against EU Gas Directives EU Court ordered Ryanair to give clear information about full price of tickets Draft Draft law on banning import of energy, coal and potatoes from Russia initiated Draft law on exercising public financial control in Ukraine Parliament adopted draft law to impose moratorium on initiation of bankruptcy proceedings against Energorynok Parliament adopts draft on return of assets from abroad with help of Litigation Funds Law digest Parliament prolonged benefits in force for business and health professionals Parliament supported draft law on banks in first reading Rada adopted amendments to state budget Reform set to open up land market open in 2021 Biznews Capital Markets Nova Poshta started placement of† UAH 700 million worth of bonds Renewable Energy Top 10 investors in green energy earned UAH 14 billion a year M&A Berkshire Hathaway sold all its shares in 4 US airlines Gas company Regal Petroleum buys competitor Sanctions British bank slapped with unprecedented fine due to Ukraine Business Number of business complaints increases in Q1 2020 On-line business IKEA started operations in Ukraine: online store launched UberEats halts operations in Ukraine Data Screening YouControl opened access to European registers: itТs now possible to review files of foreign companies Cover Story Highest Standards The concept of corporate governance is widespread around the globe, helping companies to reach greater levels of efficiency and sustainability. It is an evolutionary process for that business whose strategic aim is to explore new markets and investment opportunities. The tradition of corporate governance in Ukraine is on its way to being established, while legal advisors play a crucial role in this process. We asked two partners of Kinstellar, Olena Kuchynska, a leading expert in corporate governance and head of the local energy practice, and Iryna Nikolayevska, head of the corporate/M&A to tell us how it operates in current Ukrainian realities and how corporate governance is able to contribute with the application of the worldТs highest standards. How To Liability Transferred After M&A: How New Management Can Avoid Risks Maxim Oleksiyuk, Viktoriia Minets An important indicator of success for M&A is how smoothly control of it was transferred. The acquisition of a company often involves appointment of new management. What should be considered during transfer of control, and how can risks borne by new management due to the mistakes of their predecessors be avoided? Argument Access to Justice in Commercial Disputes Through the Lens of Recent Legislative Innovations Roman Gerasymenko It is already safe to assume that 2020 has been marked by several unique events in Ukraine: coronavirus, land reform, and other circumstances associated with intensive legislative activity. It is worth noting that the laws regulating commercial trials were amended as well and such amendments may be divided into two groups: (1)†amendments related to quarantine, (2) amendments not related to quarantine. Both groups of changes should be analyzed through the lens of their impact on the right to access to justice. Right to Trial Versus Procedural Abuse: Where do we Stand? Kseniia Pogruzhalska Over the last couple of years, Ukrainian procedural law has experienced constant change. A major overturn of judicial procedures took place at the end of 2017, when the new version of procedural codes came into effect. The new codes introduced completely new mechanisms of case administration (i.e., e-court), were aimed at resolving numerous existing practical issues, and should have brought the entire court system to a brand new level in terms of the quality and effectiveness of dispute resolution. Did this happen? ItТs still hard to say.† Crux Legal Digest The UJBL editorial team spent last month monitoring recently adopted legislation and new initiatives. We asked experts to comment on NEURC Resolution No. 725, which increases УgreenФ tariffs for electricity for household producers, Draft Memorandum of Understanding , Resolution No.580 in the sphere of land management, Draft Law No. 2571-д aiming to amend certain acts regulating banking activities 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.