On 13 August 2024, the Ukrainian Government adopted Order No 757-p “Certain Issues of Pilot Auctions for the Allocation of the Support Quota in 2024” (“Green Auctions Order”) scheduling the first auctions for supporting renewable energy producers under the feed-in premium mechanism (“Feed-in-Premium”) later this year.
CMS, Avellum, and Kinstellar Advise on NJJ Holding and Horizon Capital-led Consortium's Acquisition of Datagroup-Volia and Lifecell
CMS has advised a consortium led by NJJ Holding and Horizon Capital on the acquisition of Datagroup-Volia and Lifecell. Avellum advised NJJ on obtaining merger control clearance from the Antimonopoly Committee of Ukraine for the acquisition. Kinstellar also advised NJJ.
Avellum Advises EBRD on EUR 70 Million Loan to New Post
Avellum has advised the European Bank for Reconstruction and Development on a senior EUR 70 million loan to New Post LLC – the principal operating subsidiary of Nova group.
Weil and Sayenko Kharenko Advise on USD 23 Billion Restructuring of Ukraine’s Sovereign Debt
Weil and Sayenko Kharenko have advised an ad hoc committee of bondholders of Ukraine’s Eurobonds on a USD 23 billion restructuring of Ukraine’s sovereign debt. White & Case and Avellum reportedly advised the Ministry of Finance of Ukraine.
Avellum Advises Ukrnafta on Obtaining Unconditional Merger Clearance to Manage Tatneft
Avellum has advised PJSC Ukrnafta on obtaining unconditional merger clearance from the Antimonopoly Committee of Ukraine to manage Tatneft.
Hillmont Partners and Avellum Represent GNT Group's Creditors and Prevent Corporate Raid
Hillmont Partners and Avellum have successfully represented GNT Group's creditors and have stopped an attempted corporate raid.
Avellum Advises Greenville Group on Sale of Renewable Energy Infrastructure Project
Avellum has advised the Greenville group of companies on the sale of a ready-to-build wind power plant with an overall projected capacity of approximately 150 megawatts to the Galnaftogaz Group. Law Whales reportedly advised the Galnaftogaz Group.
Avellum Advises Aspia on Acquisition of Accountor Outsourcing
Avellum, working with Kirkland & Ellis, has advised Aspia on its acquisition of Accountor Outsourcing.
Avellum Advises Knorr-Bremse on Merger Clearance for Acquisition of Alstom Signaling
Avellum has advised Knorr-Bremse on obtaining merger clearance from the Antimonopoly Committee of Ukraine for its acquisition of Alstom Signaling via its subsidiary Knorr Brake Holding Corporation.
NBU Grants Eurobonds Repayment Relief for Major Ukrainian Corporate Issuers
With effect from 11 July 2024, the National Bank of Ukraine (“NBU”) introduced a long-awaited exemption from the moratorium on foreign currency cross-border transfers (“Moratorium”). This exemption is expected to facilitate the repayment of Eurobonds by major Ukrainian corporate issuers, which had faced significant challenges in making payments under their Eurobonds since the beginning of the full-scale russian invasion of Ukraine on 24 February 2022.
Ukraine: Progress Made on the Renewables Agenda
Despite martial law, Ukraine has significantly advanced its renewable energy agenda over the last year. Ukraine’s trajectory in the renewable energy sector is not merely a response to challenges but a proactive and strategic approach to shaping a greener and more sustainable future.
Ukrainian Government Approves Regulation of State Support for Investment Projects with Significant Investments
On 26 April 2024, the Cabinet of Ministers of Ukraine (“Government”) approved the Procedure for Using Funds from the State Budget to Provide State Support for the Implementation of Investment Projects Involving Significant Investments (“Budget Procedure”).
Labour Law Changes: Impact of EU Directive on M&A Procedures
On 15 May 2024, amendments to the Labour Code of Ukraine came into effect aiming to regulate the rights and obligations of parties in labour relations during a change of control over business. The Ukrainian parliament adopted such amendments to align Ukrainian legislation with EU Directive 2001/23/EC, dated 12 March 2001.
Keep Your Guard Up: Transforming European Defense Sectors
Across Europe, defense sectors are experiencing significant transformations and budgetary escalations, driven by a need for enhanced military readiness and modernization. Avellum Partner Andriy Romanchuk, Cobalt Partner Deividas Soloveicik, Nagy es Trocsanyi Partner Gyorgy Kiszely, and Tuca Zbarcea & Asociatii Partner Serban Paslaru take a closer look at defense spending in their respective countries.
The Corner Office: Skills of Tomorrow
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Given the dynamic and ever-evolving nature of the legal profession, we asked: What is the one critical skill that you’re investing time and energy in to develop within your team, and why?
New NBU’s Steps for Currency Control Liberalisation
On 4 May 2024, new amendments to Regulation of the Board of the National Bank of Ukraine “On the Operation of the Banking System during the Period of Martial Law” No. 18, dated 24 February 2022, came into effect. Such amendments aim to further ease relevant currency control restrictions, including (i) lifting all currency restrictions on imports of works and services, (ii) permitting businesses to repatriate “new” dividends, (iii) easing restrictions on repayment of “new” foreign loans, (iv) allowing payment of interest on “old” foreign loans, and (v) allowing to transfer funds abroad under leasing/rental agreements.
Did You Know: Top Ten List from the First Decade of CEELM
On the occasion of this year’s recent Deal of the Year Awards Banquet and GC Summit in Warsaw, did you know that, according to the Activity Rankings feature of the CEELMDirect website, partners of pan-Baltic law firms dominated the list of the ten lawyers who worked on the most client matters reported by CEE Legal Matters in the first decade of its existence?
Avellum and Sayenko Kharenko Advise on Ukraine's Ministry of Finance on CAD 2 Billion Sovereign Loan from Canada
Avellum has advised Ukraine's Ministry of Finance on a CAD 2 billion ten-year concessional loan from Canada. Sayenko Kharenko advised the Government of Canada.