The challenges posed by rapid technological advancements and potential risks associated with AI continue to grow. Data protection, cybersecurity, and IP considerations, to name a few. With this in mind, policymakers strongly believe that it is crucial to establish a legal framework regulating, among others, the development and use of AI.
2023 in the Rear-View Mirror
As 2023 comes to a close, reflections on the year reveal challenges and achievements across Romania, Bulgaria, and Ukraine. Tuca Zbarcea & Asociatii Managing Partner Gabriel Zbarcea, Schoenherr Bulgaria Local Partner Ilko Stoyanov, and Avellum Managing Partner Mykola Stetsenko share their thoughts on what kind of a year it has been.
Managing Human Capital During a State of War
Marked by the turbulence of war, Ukraine’s legal sector has adjusted to the new circumstances but potential future talent challenges loom on the horizon.
Avellum Advises Ukraine's Ministry of Finance on French Export Loan for Rail Purchase
Avellum has advised the Ministry of Finance of Ukraine on a EUR 37.6 million export loan provided under the framework agreement between the Governments of Ukraine and France with the funds being directed towards purchasing rails for Ukrainian Railways from French manufacturer Saarstahl-Rail.
Avellum Advises Stellantis on Acquisition of CloudMade AI Technologies and IP
Avellum, working with Linklaters, has advised Stellantis on the acquisition of the artificial intelligence framework, machine learning models, and intellectual property rights and patents of CloudMade.
Sayenko Kharenko and Avellum Advise on Horizon Capital's Investment in Viseven
Sayenko Kharenko has advised Viseven on an investment from Horizon Capital. Avellum advised Horizon.
Andriy Fortunenko, Andriy Romanchuk, and Anton Zaderyholova Make Partner at Avellum
Avellum has announced the appointment of Andriy Fortunenko, Andriy Romanchuk, and Anton Zaderyholova as Partners, starting January 1, 2024.
Avellum Advises Kernel on Acquisition of Danube Sunflower Oil Transshipment Terminal
Avellum has advised the Kernel Group on the acquisition of 100% of shares in Reni-Oil LLC – a sunflower oil transshipment terminal with a storage capacity of 15,000 tons, in the port of Reni, on the Danube – for a consideration of USD 24.75 million.
Preparing the Ukrainian PPP Framework for Reconstruction
Ukrainian civilian infrastructure, particularly its vital components such as energy facilities and seaports, was heavily targeted by Russian missile strikes, causing severe damage. Combined damage to civilian infrastructure and energy industries already exceeds USD 50 billion. Since the beginning of hostilities, 18 airports, at least 344 bridges and overpasses, and over 25,000 kilometers of roads were damaged.
Resilience in Ukrainian M&A Activity
As Ukraine is fighting off the brutal invasion by the Russian Federation, the Ukrainian M&A market is at its lowest point, at least in terms of the number of deals, since 2000. Still, interesting trends are emerging and there is great hope for a bright future.
CEELM10 Roundtable: A Decade of M&A in CEE
On November 21, 2023, corporate/M&A and private equity experts from Bulgaria, Greece, Hungary, Kosovo, Moldova, Romania, Serbia, Slovakia, Turkiye, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the key developments in the field over the past decade.
CEELM10 Interview: A Decade of M&A in Ukraine
Avellum Managing Partner Mykola Stetsenko talks about the evolution of the practice and their role as legal advisors in Ukraine over the last 10 years.
Room To Grow: Developing Capital Market Landscapes in CEE
ACI Partners Legal Manager Carolina Parcalab, Avellum Senior Partner Glib Bondar, Gecic Law Counsel Miodrag Jevtic, Vujacic Law Office Partner Sasha Vujacic, and Schoenherr Bulgaria Local Partner Tsvetan Krumov discuss the current status of capital markets in CEE.
NEURC Makes Next Step in Introducing Aggregation in Ukrainian Energy Market
On 18 October 2023, the National Energy and Utilities Regulatory Commission (“NEURC”) adopted the Licensing Terms for Aggregation in the Electricity Market under Resolution No. 1909 (“Resolution”).
Redcliffe Partners and Avellum Advise on USD 480 Million Loan to MHP
Redcliffe Partners has advised the IFC, EBRD, and DFC on their USD 480 million loan to Ukrainian poultry and grain producer MHP. Avellum advised MHP. CMS and Harneys reportedly advised the DFC and EBRD, with Harneys and Baker Botts reportedly advising the IFC.
Avellum and Hillmont Partners Successful for ACP and Innovatus in Bankruptcy Proceedings Before Supreme Court
Avellum and Hillmont Partners have successfully represented Argentem Creek Partners and Innovatus Capital Partners before Ukraine's Supreme Court in bankruptcy proceedings against GNT Group companies Olimpex Coupe International and MetalsUkraine.
NBU permits early repayment of loans to DFIs and ECAs
The National Bank of Ukraine (“NBU”) further relaxed currency control restrictions allowing Ukrainian borrowers to make early repayments of cross-border foreign currency loans extended after 20 June 2023 to development finance institutions (“DFIs”) and foreign export credit agencies (“ECAs”).
Avellum Advises JSC Integrity Capital on Merger Control Clearance for Ocean Plaza Co-Owner Acquisition
Avellum has advised JSC Integrity Capital on obtaining the merger control clearance of the Antimonopoly Committee of Ukraine for its acquisition of shares in Lanita Invest – an indirect co-owner of the Ocean Plaza shopping and entertainment complex in Kyiv.