The Parliament of Ukraine has adopted in its entirety draft law “On Joint Stock Companies” No. 2493, dated 25 November 2019 (“Draft Law”). The Draft Law is designated to align the regulation of joint stock companies (“JSC”) operation with EU corporate governance standards.

Avellum has advised the Managing Partners of the American University Kyiv on its launch in Ukraine.

On July 19, 2022, Law of Ukraine No. 2352-IX On Amendments to Certain Legislative Acts of Ukraine, Governing Optimization of Labor Relations entered into full force and effect and amended the Code of Labor Laws of Ukraine (the Labor Code), the Laws of Ukraine On the Organization of Labor Relations under Martial Law, On Leaves, and others.

On July 19, 2022, Law of Ukraine No. 2352-IX On Amendments to Certain Legislative Acts of Ukraine, Governing Optimization of Labor Relations entered into full force and effect and amended the Code of Labor Laws of Ukraine (the Labor Code), the Laws of Ukraine On the Organization of Labor Relations under Martial Law, On Leaves, and others.

Avellum, working with White & Case, has advised the Ministry of Finance of Ukraine, National Power Company Ukrenergo, and the State Road Agency of Ukraine Ukravtodor on consent solicitations for extending external debts.

Historically, Ukraine has been known as a country with a good investment climate, particularly in the energy sector. The country’s high feed-in tariff rates, general digitalization, well-established and simplified regulatory procedures, and the availability of alternative suppliers for works and services, among other factors, have contributed to a large influx of investors in new green energy projects in Ukraine.

Asters has successfully represented Power Construction Corporation of China and Powerchina Huadong Engineering Corporation in challenging security measures granted by the Kyiv Court of Appeal in assistance to arbitration proceedings pending before the Dubai International Arbitration Center against the Fursy Energy Group and FAS Energy.

Avellum has advised the Ministry of Finance of Ukraine on extending a EUR 200 million 15-year loan from the Italian Republic and a CAD 450 million 10-year loan from Canada. Sayenko Kharenko advised the Government of Canada.

Kinstellar has advised telecommunications operator Kyivstar on its acquisition of a controlling stake in digital healthcare company Helsi.

Avellum, working with White & Case, has advised the Ministry of Finance of Ukraine on the restructuring of Ukraine’s sovereign debt. Sayenko Kharenko, working with Latham & Watkins, advised JP Morgan in its role as solicitation agent. Weil Gotshal & Manges advised some of the GDP-warrant and bondholders.

Asters has advised Olson Family Trust Director Chuck Olson prior to and during his visit to Ukraine on the implementation of the first phase of the trust’s humanitarian mission. 

The Laws of Ukraine "On Amendments to Certain Laws of Ukraine Regarding Priority Reform Measures in the Field of Town-Planning” No. 2254-IX, dated 12 May 2022 (“Law 2254”) and "On Amendments to Certain Legislative Acts of Ukraine Regarding Regulatory Peculiarities of Land Relations under Martial Law” No. 2247-IX, dated 12 May 2022 (“Law 2247”, hereinafter together with Law 2254 – “Laws”) came into force more than a month ago.

Over the last years the Ukrainian legal community has been actively discussing the developments in the antitrust reform and making practical efforts to implement it. MPs, the Antimonopoly Committee (the AMC) and other state bodies, international organizations, domestic and foreign antitrust experts have been involved in this process. This article provides an overview of certain changes that will further contribute to the development of the Ukrainian antitrust and competition legislation, and which have already been reflected in draft laws. Most of them were published in the form of recommendations provided to Ukraine by the OECD (Organisation for Economic Co-operation and Development) several years ago. 

Asters has successfully defended the interests of PrivatBank before the Supreme Court in a case relating to the bank's nationalization.

On July 7, four leading lawyers from Austria, the Czech Republic, Hungary, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the increasing prominence of ESG issues and their impact on M&A transactions, due diligence procedures, and the role of the lawyers themselves.

Former Counsel Vitaliy Odzhykovskyy has been promoted to Partner with Sayenko Kharenko.

On 15 March 2022, the Parliament of Ukraine passed Law of Ukraine “On Organisation of Labour Relations under the Martial Law” No. 2136-IX, dated 1 July 2022 (“Law 2136”). Law 2136 was intended to define the aspects of labour relations during martial law.

Konieczny Wierzbicki & Partners has advised on the establishment of the Light and Love Home in Poland and the acquisition of a hostel to support Ukrainian refugees.