CURRENT ISSUE (November 2019)

In focus – Transport & Infrastructure

Ukraines place at the transportation routes between Europe and Asia, the Baltic States and the Black Sea region is just part of its truly amazing potential. Naturally, our country should be an international transportation hub but, unfortunately, it isnt.

Expert Opinion

Will PPPs Build the Future of Ukraine?

Volodymyr Yaremko, Vladlena Lavrushyna

Public-Private Partnerships (PPPs) are popular around the world for implementing infrastructure projects. TheWorld Banks PPP Knowledge Labdefines a PPP as a long-term contract between a private party and a government entity, for providing a public asset or service, in which the private party bears significant risk and management responsibility, and remuneration is linked to performance.

In Re

Electronic Document Management

Irina KRAVTSOVA, Elena LOZINSKAYA

Electronic document management has long ceased to be an exotic definition in Ukraine. After the tax invoice, the delivery note has become the next major transfer to electronic form. From 12 July 2019 the delivery note can be issued in electronic form under the Order of the Ministry of Infrastructure of 3 June 2019 No. 413, which amends the Rules for the carriage of goods by road in Ukraine, approved by the Order of the Ministry of Transport of 14 October 1997, No. 363 (the Cargo Transportation Rules). At the same time, the parties of the contractual relations can choose independently the form in which the delivery note will be designed, as arrangement of the delivery note in electronic form (e-delivery note) is an option, but not an obligation, and the paper form has the same legal force as before.

Role of Collective Bargaining Agreements in Shipping

Oleksandra FEDKO

The maritime shipping industry is peculiar in many aspects. However, it is virtually unique thanks to one feature: its bargaining system. Global union and employers associations negotiate over crucial terms of employment of seafarers and the result of such negotiations lead to immediate effect to the whole industry regardless of borders and nationalities.

Development of Aviation Industry in Ukraine

Rostyslav Nykitenko

Aviation is a very promising area of ​​infrastructure development currently undergoing reform in Ukraine. Considering the favorable territorial position of the country, the aviation industry is an important element of public policy aimed at sustainable economic development.

The first steps to establish air transportation on the territory of Ukraine were made in 1923. The first Ukrainian airline, called Ukravozduhput, was created.

News

Deals

AVELLUM advised MHP on USD 350 million Eurobond issue

CMS advised EBRD on green logistics loan

KPMG Law Ukraine acted as legal advisor to Slovak company E Group

Redcliffe Partners advised EBRD on a USD 56 million loan to Kernel

Cases

National Bank won action against Kostyantyn Zhevago

Court dismissed claim on Dniproavia nationalization

PrivatBank wins appeal against former owners in London court

Draft

Government initiatives on introducing changes in countering money laundering

Alternative draft law made public on freeing land market

Activities of State Customs Service and the State Fiscal Service in framework of single legal entities

Law digest

Laws on introduction of single account for tax payment adopted

Economic activities licensing

President signed law on geographic indications protection

Law on revocation of licenses for telecommunications operators published

Law On Protection of Financial Service Consumers signed

Biznews

Renewable Energy

More than EUR 2 billion invested in green energy since start of 2019

Competition

Antimonopoly Committee fined two companies owned by Renat Akhmetov

Trade Policy

USA imposes duties worth USD 7.5 billion on imports from EU

EUUkraine trade turnover rose by 9% and reached EUR 40 billion

State Policy

The Cabinet of Ministers plans to close more than 1,000 state-owned enterprises

Government instructed state giants to sell excess property

Cabinet of Ministers established Commission on Business Protection

Banking & Finance

EBRD and EU allocated EUR 70 million to three Ukrainian banks

Oil & Gas

Ukraine increased capacities for gas import from Poland

Chamber News

Business Community met with the Prime Minister of Ukraine Oleksiy Honcharuk

On 4 October  member companies of the American Chamber of Commerce in Ukraine, the European Business Association, and the Union of Ukrainian Entrepreneurs met with the Prime Minister of Ukraine Oleksiy Honcharuk.

Cover Story

Commercial Viability

Being a geographical bridge between East and West, Europe and Asia, Ukraine has the evident task of become a central transportation hub between two continents. Several governments have set out strategic visions and long-term plans. However, efficient reforms start by revealing restrictions and constraints to investments.
Big money, which the transport sector requires, usually follows sustainable commercial viability.

Ukraines visa-free regime with the EU became the impetus for the aviation industry. Dr. Anna Tsirat, partner of Jurvneshservice Law Firm, has revealed evidence of the sectors development. Some insights are definitely benchmarking for policy-making which is taken place at the moment.

Argument

Opportunities for Piercing the Corporate Veil in Ukraine

Ruslan YURCHENKO

The separate personality of a legal entity is one of the most significant principles of corporate law. This principle provides that “a shareholder (founder) of a legal entity shall not be liable for the obligations thereof, while a legal entity shall not be liable for the obligations of its shareholder (founder) unless otherwise provided by constitutional documents or by law”1. Additionally, Ukrainian law draws a sharp distinction between shareholders’ rights and interests and their legal entity’s rights and interests, which cannot be considered identical to the simple set of its shareholders’ rights and interests. As a rule, shareholders may not bring an action for protecting their legal entity without special power2.

Venue

Legal Gangnam Style

Being known around the world after a hit by Korean pop star Psy the central district of Gangnam in Seoul became the meeting point of the prestigious annual conference held by the International Bar Association (IBA) on September 22-27. This is the first annual gathering of the IBA in South Korean capital in the 72-year history of the association.
In addition to the focus on the Asian region, the host country had a unique chance to present its jurisdiction, express the expectations of business, demonstrate strong institutions and unique culture.

Crux

Legal Digest

In the previous month, the Ukrainian Parliament, kept working in so-called turbo regime, which resulted in an impressive number of adopted laws, many of which may have a significant impact on various business industries, while others drafts are about to be discussed. Important legislative acts include a Law On Concession, laws related to licensing and the highly-discussed Draft Law On the Agricultural Land Market. We asked experts to provide their opinions on these main issues.
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