The Ukrainian Journal of Business Law

[http://ukrainianlawfirms.com] 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 ( September-October 2021 ) In focus – International Arbitration and Alternative Dispute Resolution Being the bread and butter practice area for legal counsel all over the world, the dispute resolution practice spans litigation, arbitration and alternative methods. The growing number of arbitration requests, development of its centers and rules provided for increasing the level of trust of both parties dealing with commercial and investment disputes. Investment disputes are customarily a burning issue for Ukraine, indicating the credibility of commitments undertaken by the state and the attractiveness of the nationТs business environment. Expert Opinion Changes to Arbitration Rules During the Pandemic by Olena Perepelynska International arbitration has historically developed together with international trade and their correlation and mutual impact have many interesting angles. After exponential growth of both during the era of expanding globalism we are now witnessing the effects of rising nationalism. In international arbitration we are seeing multiple changes at local level in many jurisdictions: growth of the arbitration community, reforms of arbitration-related legislation, creation of new arbitral institutions and development of existing local arbitration centers aiming to become/remain regional arbitration hubs. All these factors have resulted in tightening competition among arbitral institutions and instigated them to promptly adapt their rules and practices to changing reality and the challenges of our time. During the last two years COVID-19 has accelerated many institutional changes, both related and unrelated to the pandemic. Certain changes, those most relevant for Ukrainian business, are considered in this article. Olena Perepelynska is a partner, head of International Arbitration at INTEGRITES In Re Enforcement of Foreign Interim Measures in Ukraine by Andrey Bychkov, Roman Protsyshyn It is not uncommon for claimants in commercial disputes to face recalcitrant debtors deliberately dissipating their assets to render themselves judgment-proof or taking other steps aimed at complicating, or even making impossible, enforcement of a future judgment or arbitral award. To avoid the risk of actual recovery of the claim being ultimately thwarted, various interim measures designed to preserve the status quo come into play, allowing an aggrieved party to secure enforcement of a judgment or arbitral award if made in its favour. This instrument also ensures that the successful partyТs efforts and costs of running litigation or arbitration are not wasted. Thus, the importance of interim measures cannot be overstated. Andrey Bychkov is a counsel, attorney at law at Ilyashev & Partners Roman Protsyshyn is an attorney at law at Ilyashev & Partners The New ADR Tool from the Stockholm Arbitration Institute: Will Advantages Outweigh? by Ivan Vashchynets Alternative dispute resolution, or ADR, exists in a wide variety of forms. The traditional types of ADR are negotiation, mediation, and arbitration. All of them are aimed at resolving disputes in an informal, confidential, and efficient manner. Individuals and companies have, at various times, tried to combine the advantages of different types of ADR to solve their disputes more effectively. However, the resulting hybrid forms of ADR have not always been successful. Ivan Vashchynets is a partner at ARBITRADE News Deals Sayenko Kharenko advised on second USD 50 million Eurobond tap issue by Trans-Oil Group CMS advised Vodafone Ukraine Sayenko Kharenko provided legal support for PGNiG INTEGRITES assisted Sturgeon Capital Cases Apple deprived of monopoly on payments for applications —ourt in Netherlands recognized Uber taxi drivers as employees Shell to pay Nigeria USD 111 million for oil spill in 1970s Privatbank Eurobond bail-in: ruling by Bank of England now conclusive WhatsApp fined EUR 225 million in Ireland for violating privacy rules Draft Thousands of companies to be obliged to pay insurance on environmental damage Draft registered in Parliament on abolition of Economic Code of Ukraine Parliament adopted law in first reading guaranteeing rights to real estate under construction Law digest Zelensky signed laws on development of ecologically friendly transport Parliament approved simultaneous transfer of right to land and real estate Parliament legalized virtual currencies in Ukraine Industrial parks re-launch: Parliament adopted law The chamber AmCham Ukraine shortlisted for European Creative Network Award 2021 Biznews M&A The Road to Recovery: European M&A Outlook 2022 PayPal acquires Paidy for USD 2.7 billion Swiss company УsubsidiaryФ invests USD 40 million in Chornomorsk Port Monobank acquired service to combine restaurant payments and reviews Rankings World Bank to stop publishing Doing Business rating Investment Ukrainian startup GitLab set to go public, market valuation exceeds USD 6 billion Google invests EUR 1 billion in cloud services and renewable energy in Germany Cover Story Attractive Alternative Litigation is both an expensive and time-consuming undertaking. Ukrainian legislation allows the mechanism of alternative dispute settlement, which certainly has its predicted benefits. However, it is not a widespread tradition as in the Western world. Oleg Malinevskiy , partner of EQUITY Law Firm , explained that the instruments of alternative dispute resolution have wider potential and should definitely be reinstated for both parties and their legal representatives. Argument Ukraine Ц Wood Products: Ukraine Lost First Free Trade Dispute with EU by Oleksandr Tereshchenko On 11 December 2020, the Arbitration Panel (Panel) issued the Report on restrictions applied by Ukraine on exports of certain wood products to the European Union (EU). The Panel was established pursuant to Article 307 of the EU-Ukraine Association/Free Trade Agreement (Agreement). The dispute concerned wood export bans imposed by Ukraine in 2005 and 2015. The EU requested to declare that 2005 and 2015 wood export bans were inconsistent with Article 35 of the Agreement and that Ukraine is required to take measures to comply with those obligations. Ukraine requested to reject the EUТs claim as inadmissible for lack of jurisdiction of the Panel and reject the EUТs claims on their merits. Oleksandr Tereshchenko is an attorney-at-law at Aequo Hot Issue Recent Ukrainian Case Law on Trade Defence Remedies: УHidden ReefsФ to Be Taken into Account by Anzhela Makhinova, Oleksandra Sandul The year 2020 demonstrated that trade defence remedies (anti-dumping, countervailing and safeguards) were used around the globe to protect domestic markets most frequently. The above measures shall apply only following the results of the relevant preliminary investigation. Unfortunately, both WTO Agreements and the Laws of Ukraine 1 do not regulate the procedure for conducting such investigations in sufficient detail. Therefore, the decisions of the Interdepartmental Commission on International Trade (government agency responsible for the application of the key decisions in the course of trade defence proceedings) (the “Commission”), as well as approaches of the Ministry of Economy of Ukraine (government agency responsible for procedural aspects of investigations) are quite often challenged in Ukrainian courts. This article is focused on the most recent case law setting out benchmark interpretations of the different aspects of trade defence investigations in Ukraine. Anzhela Makhinova is a partner, head of international trade practice at Sayenko Kharenko Oleksandra Sandul is a junior associate, international trade practice at Sayenko Kharenko Crux Legal Digest In the last few months the UJBL editorial team has been monitoring all significant legal initiatives that shouldnТt go unnoticed. The most important novelties are the Law On Virtual Assets and the Draft Law On Securing Property Rights to Real Estate that will be Constructed in the Future , that has finally been adopted. Several draft laws on energy (like No. 5494) and taxation (No. 5600), also have great potential to be adopted and are definitely worth your attention. We asked prominent lawyers to share their points of view on these and other matters. 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. 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