Contributed by Arzinger.

CMS has advised the EBRD on a EUR 10.8 million loan to Serbian machine manufacturer Stax Technologies.

On 5 January 2023, the "Procedure for Organisation and Maintenance of Military Registration of Conscripts, Persons Liable for Military Service and Reservists," approved by the Resolution of the Cabinet of Ministers of Ukraine No. 1487 dated 30 December 2022 ("Procedure"), came into effect. The Procedure establishes changes regarding the military registration of Ukrainians, including new obligations for employers.

Former Osborne Clarke CEO Simon Beswick has joined Kinstellar’s Board of Directors as a non-executive member.

Asters, working with Dechert, has advised JSC Ukrainian Railways on the restructuring of two tranches of loan participation notes issued by Rail Capital Markets – one for notes due 2026 and another for notes due 2024 – in a total amount of USD 895 million.

Asters has advised the Black Sea Trade and Development Bank on its EUR 8 million financing to the Real Estate Development Centre for the construction of a 128-room hotel in Lviv, Ukraine.

Asters has advised the European Bank for Reconstruction and Development on a EUR 10 million financing for the Grain Alliance Group.

Despite the Russian full-scale invasion of Ukraine, IT remains one of the leading industries in the country. According to surveys, a bit more than 10% of IT specialists (mostly women, since a large part of men are not allowed to leave the country) have moved to other countries since the start of the invasion. Some of them were relocated to foreign offices of international IT companies or started working for foreign companies, while others keep working remotely for their Ukrainian employers.

Despite missile strikes, businesses and society adapt to the new reality, with some non-war-related transactions in the works, according to Peterka & Partners Partner Taras Utiralov.

On April 1, 2023, the Law which enables foreigners to become e-residents in Ukraine (hereinafter “e-residence / e-resident”), will enter into the force (the “Law”).

Kinstellar has advised OTP Bank on its acquisition of Uzbekistan’s Ipoteka Bank. The White & Case London and Tashkent offices reportedly advised the seller.

The Kyiv office of Baker McKenzie has advised the International Finance Corporation on channeling up to EUR 25 million in EU funds to help Ukrainian homeowners' associations restore war-damaged residential buildings.

Former Nazali Tax & Legal Ukraine Partner Dogus Gulpinar has joined the Akinci Law Office as a Partner.

On 11 December 2022, Law No.2759-IX of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Preventing and Countering Mobbing (Hostile Environment)" dated 16 November 2022 (Law) came into effect. Among other things, the Law: (i) provides the definition of "mobbing"; (ii) introduces new grounds for dismissal of employees in connection with mobbing; and (iii) guarantees compensation of moral damages for employees who have suffered from mobbing.

Sorainen has provided pro bono legal advice to the Entrepreneurs for Peace foundation on repairing all the explosion-damaged windows at the Ukrainian Society of the Deaf educational and manufacturing company in Chernihiv and preparing the building for the winter. 

The War in Ukraine left no market sectors unaffected and, according to Ilyashev & Partners Managing Partner Mikhail Ilyashev, things were no different for lawyers.

Integrites has successfully represented the interests of the Gradoliya Oil Extraction Plant in two stages of a tax dispute against the Main Directorate of the State Tax Services in the Kirovohrad region, Ukraine.

Integrites Partner and Head of Corporate/M&A and the firm's French desk lllya Tkachuk has been promoted to a Senior Partner in October 2022.