The Ukrainian Journal of Business Law

[https://pravo.ua/abonement] Counse link Aequo Senator Business Center, 32/2 Moskovska Street, 15th floor, Kyiv , 01010 , Ukraine Phone: +38 (044) 490 91 00 office@aequo.ua www.aequo.ua 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 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 EUCON Legal Group 5a Peremohy avenue, office 500, Kyiv , 01135 , Ukraine Phone: +38 (044) 238 04 13 info@euconlaw.com www.euconlaw.com EQUITY 4 Rylskyi lane, Kyiv , 01001 , Ukraine Phone: +38 (044) 238 04 13 info@equity.law www.equity.law 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 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 Sergeyevs` Law Office 11/6 Armiiska Str., Office 2A, Odesa , 65058 , Ukraine Phone: +38 (050) 199 8228 Fax: +38 (048) 737 8228 office@srgv.com CURRENT ISSUE ( January-February 2021 ) In focus – Infrastructure UkraineТs obsolete and non-competitive infrastructure, routinely patched up since Soviet times, is a key constraint on increasing cross-border trade and capitalizing on UkraineТs geographical location. Modernizing our transport infrastructure is an extremely expensive undertaking. Different estimates result in substantial figures and start from USD 60 billion. But any further status quo may lead to a steady reduction in export potential and transit capabilities. Expert Opinion Infrastructure Development Through an Unsolicited PPP Proposal in Ukraine by Volodymyr Yaremko, Vladlena Lavrushyna Public-private partnership (PPP) can be described as a way of delegating provision of public and municipal services to the private sector. Due to commonplace budgetary constraints, PPP can be an efficient solution for tackling infrastructure issues that require both proper management and large investments. PPP enables the bringing of know-how, technologies and investments of the private sector to public infrastructure without eliminating public sector supervision. Taking into consideration the stage at which the Ukrainian infrastructure currently finds itself (see, for example, a presentation of the EBA Infrastructure Index) it is hard to imagine how, other than with solid investment from the private sector, the value of UkraineТs infrastructure can increase significantly. Volodymyr Yaremko is a counsel at Sayenko Kharenko Vladlena Lavrushyna is an associate at Sayenko Kharenko In Re Road PPPs and Concessions in Ukraine by Oleg Matiusha Despite the pandemic and related economic downturn, UkraineТs infrastructure sector was among the economyТs most active sector in 2020. The Ukrainian government launched the ambitious УBig ConstructionФ program aimed at the modernisation of the countryТs infrastructure, including mass reconstruction of roads and bridges at the state and municipal levels.† Tourism Infrastructure: New Investment Opportunities for Faster Recovery After the Pandemic by Olena Stepanova, Alyona Shulima The COVID-19 pandemic and the subsequent quarantine have significantly changed the global economic and social landscape. One of the sectors for which mobility restrictions had a very direct and destructive impact was tourism. While most industries were able to find some digital solutions to continue operations during lockdowns, hotels remained almost empty during the spring lockdown in Ukraine, and reported significant falls in occupancy in the following months compared to previous years. Olena Stepanova is an associate at Hillmont Partners Alyona Shulima is an associate partner at Hillmont Partners News Deals EVERLEGAL advised Novopecherska School on EUR 10 million loan Sayenko Kharenko represented Zhejiang Longda Stainless Steel Co., Ltd Asters and INTEGRITES advised on convertible loan from IFC to Ukrgasbank Asters advised Smart Holding on the sale of Unex Bank Baker McKenzie advised IKEA Cases Google fined once again in Russia Court refused to lift the seizure imposed on Motor Sich shares Tax assessment notice to be appealed within one month Supreme Court took side of PrivatBank in Kyiv hotel case British American Tobacco lost appeal on UAH 80 million fine Draft Improvement of mechanism for collecting and distributing royalties Adopted law on virtual assets enables crypto firms to operate legally Law digest Parliament ratified Strategic Partnership Agreement between Ukraine and UK VAT cut to 14% for some areas of agricultural sector Draft law on investment nannies adopted Law on electronic communications adopted Biznews Competition EU†competition†authorities pursue investigation into Google advertising practices Oil & Gas Ukraine increased oil imports in 2020 by more than 50% Tourism Tour operators now obliged to indicate cost of tours in UAH Banking & Finance The World Bank will grant USD 300 million loan to Ukraine MoodyТs raised the ratings of 8 Ukrainian banks NBU retained discount rate at 6% per annum Sanctions EU refused to certify Nord Stream-2 M&A Louis Vuitton acquired jewelry company Tiffany Fiat and Peugeot merger created one of the largest carmakers in the world Cover Story Investment Technology Ukraine has at its disposal unique geographical location at the crossroads of the main trading routes between Europe and Asia. But this strong advantage and great ambitions to become the core transit hub face the big problem of an obsolete transport infrastructure inherited from Soviet days, which requires significant investment. How should the interests of private investors and the state be secured, at the same time preserving a reasonable balance? We discussed the development of existing investment technologies with Andrii Pidhainyi and Marina Sharapa , partners of AGRECA Law Firm , who have been involved in shaping sectoral policies for the last decade. Global Legal Update Future of Infrastructure and Construction Market in Poland 2021-2027 by Andrii Romanchuk The construction industry proved to be an industry extremely resistant to COVID-19 in 2020. I am writing this article from the perspective of a Ukrainian who has been living in Poland since 2014, observing the construction boom there and benefiting from Polish infrastructural success. This country is building its road and rail infrastructure all of the time, as well as industrial and warehouse facilities. The development market currently remains stable due to low interest rates and the desire to preserve the value of money in real estate. Andrii Romanchuk is a partner and head of the Warsaw office of EUCON Legal Group Argument Responsibility for Criminal Offences in the Field of Water Transport According to Criminal Legislation of Ukraine by Iryna Radkovska Water transport is a valuable component of contemporary life, and one of the main arteries of the global economy. Its role within the COVID-19 pandemic and acknowledgement of representatives of the field as Уkey workersФ, along with medical personnel, are evidence of the mentioned thesis. The importance of this field of social relations can also be proven by the presence of the distinct Chapter XI of the Special Part of the current Criminal Code of Ukraine (hereinafter Ч CC of Ukraine ), devoted to protecting relations in the field of transport, including water, from illegal violations. Iryna Radkovska is an assistant and aide to a Member of the Ukrainian Parliament ShipownerТs Liability Towards Seafarers: Bioethical Issues by Oleksandra Fedko Maritime and Medical law can rarely be mentioned as branches of law in a single sentence. In fact, they rarely share the subject to regulation. So where is their meeting point? The pandemic was peculiar in many aspects last year. We shall focus only on one of them: the COVID-19 crisis attracted an unprecedented amount of attention to the driving force of the entire maritime shipping industry Ч seafarers. By the end of 2020 the common struggle of the International Maritime Organization, the International Labour Organization, the International Chamber of Shipping, the International Transport WorkersТ Federation was crowned by the United Nations General AssemblyТs resolution on International cooperation to address challenges faced by seafarers as a result of the COVID-19 pandemic to support global supply chains, adopted on 1 December 2020 . Oleksandra Fedko attorney-at-law, is an individual practitioner Crux Legal Digest Over the last two† months the editorial team has monitored legislative initiatives and changes that may be of particular interest to our readers. We asked legal experts to give us their hands-on comments. Particularly on our radar are Law No. 995-IX, which foresaw the withdrawal of the Treaty on Implementation of Coordinated Antimonopoly Policy in CIS countries; the Strategic Partnership Agreement between Ukraine and Great Britain; the Law of Ukraine On Electronic Communications; Draft Law On Energy Efficiency; Draft Law No. 4537, which aims to regulate the mechanism and allocation of royalties 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.