CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
On 9 April 2025, Law of Ukraine № 4292-IX "On Amendments to the Civil Code of Ukraine on Strengthening the Protection of Rights of Bona Fide Purchaser" (Law No. 4292-IX) came into force. A bona fide purchaser is a person who acquired property under а repayment contract from another person who had no right to alienate it, provided that the purchaser did not know and could not have known about this.
Public-Private Partnerships (PPPs) have become an essential tool for governments worldwide to develop and modernise healthcare infrastructure. By leveraging private sector investment, expertise, and efficiency, PPPs help bridge funding gaps, improve healthcare accessibility, and ensure the long-term sustainability of medical facilities.
Imagine Lawyers has advised the shareholders of Uklon group companies on the sale of Uklon’s controlling stake to Kyivstar for USD 155 million. Asters advised Uklon. Sayenko Kharenko advised Kyivstar.
Asters has advised the European Bank for Reconstruction and Development on a EUR 15 million loan to Yuria-Pharm.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2024 behind us, we asked: Looking at transactional volumes for this year, would you say that 2024 was better or worse than what you originally expected it to be, and why?
In the midst of ongoing conflict, one solution is emerging that could be a crucial factor in attracting foreign investment to Ukraine: war risk insurance. Asters Senior Partner Armen Khachaturyan, Dentons Partner Adam Mycyk, Integrites Partner Igor Krasovskiy, and Redcliffe Partners Managing Partner Olexiy Soshenko discuss how this specialized insurance product is shaping the investment landscape.
Asters has advised the International Finance Corporation on the restructuring of a USD 120 million loan facility provided to Nibulon. Baker Botts reportedly advised Nibulon.
Asters has promoted Yuna Potomkina to Partner.
On 11 February 2025, the Ukrainian Government adopted a resolution regulating various aspects of cloud and data center services (the "Services") provision and use. In particular, the resolution introduces:
On 6 February 2025, the President of Ukraine signed Law No. 4213-IX dated 14 January 2025 "On Amendments to Certain Laws of Ukraine in the Field of Energy and in the Field of Heat Supply to Clarify Provisions Related to the Martial Law in Ukraine" (the Law).
Keeping employees motivated and engaged, and retaining the brightest talent can be an effortful task for businesses. Employers agree that fixed net income and mere compliance with basic employment standards are not sufficient and, thus, promote incentive programs as a recognized instrument to navigate this challenge. While worldwide trends in incentivizing employees are similar, each country has developed a set of its own legislative rules and market practices – and Ukraine is no exception.
Asters has launched a new Forensic practice headed by Counsel Sviatoslav Ogreba.
Amid the daily disruptions of war, Ukraine’s legal market has shifted focus to urgent areas like military law, sanctions compliance, and damage compensation, while adapting to workforce shortages and declining revenues, according to Asters Senior Partner Armen Khachaturyan.
On 21 December 2024, a new package of foreign currency (“FX”) easings came into effect. It is aimed at supporting domestic producers and improving the business environment in Ukraine. The amendments, introduced by Resolution No. 155 of the National Bank of Ukraine (the “NBU”) dated 20 December 2024 (“Resolution No. 155”), include the following measures:
A leniency procedure has been in place in Ukraine for over two decades. However, until recently, there was no public record of its successful application by the Antimonopoly Committee of Ukraine (AMC).
On 22 November 2024, the Cabinet of Ministers of Ukraine published Resolution No. 1332 dated 22 November 2024 ‘Some Issues of Reservation of Persons Liable for Military Service during Martial Law’ (the ‘Resolution’), which updates the reservation procedure and clarifies certain criteria of criticality.
In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.
Asters, working with Mayer Brown, has advised the United States International Development Finance Corporation on a loan portfolio guarantee for ProCredit Bank.
Founded in 1995, Asters is the largest Ukrainian law firm with offices in Kyiv, Washington D.C., Brussels and London.
The Firm provides efficient transactional legal advice and represents clients on a broad spectrum of matters arising in the course of doing business in Ukraine. Asters has extensive industry-specific experience and plays a leading role in advising clients in various market sectors.
Asters’ 130-strong legal team combines world-class professionalism and quality with clear understanding of local realities so that our clients receive practically oriented advice in the most client-friendly manner. Asters’ lawyers received law degrees from the best European, Ukrainian and US law schools, including Yale, Harvard, Chicago University.
Asters has consistently remained at the top of the Ukrainian legal market throughout its history being acknowledged as Ukraine Law Firm of the Year by Who's Who Legal (2018-2022), The Lawyer European Awards (2020-2021), Chambers Europe Awards 2020 and holds top positions in the most authoritative international market reviews: The Legal 500, Chambers Global and Chambers Europe, IFLR 1000, Who's Who Legal, Best Lawyers.