#07 July-August 2015

In focus – Agriculture

Once known as the “breadbasket of Europe”, the new Ukrainian government sounds ambitious intentions to take back this status for the country. Indeed, this is very promising for a number of reasons. First, the country has the largest area of agricultural land in Europe. Second, a moderate climate and fertile soil ensure remarkable competitive advantages for agrarian producers...

With the support of Tax Regulation

Every event related to transfer pricing held by the International Legal Center EUCON was followed by the questions of taxpayers regarding Draft Act No. 1861. The draft is to regulate the majority of controversial legislative provisions and technical weak points of Article 39 of the Tax Code of Ukraine (TCU)...

Expert Opinion

Agricultural Business: New Horizons and Challenges

Illya O. Tkachuk, Alina V. Trofimova

Agricultural business is not only struggling to survive in the rather harsh political and economic situation but to maintain the great honour of being one of the most promising areas in Ukraine.

The signing of the Association Agreement with the European Union has opened new markets for competitive Ukrainian agricultural products which, however, requires that Ukrainian companies and goods achieve a higher level of quality, as established by European standards...

In Re

Price Risk Management in Agribusiness: Legal Restrictions and Hidden Opportunities

Artem S. Naumov

Even in difficult 2014, the agricultural sector was top in Ukraine. One in every three dollars of foreign currency earnings in Ukraine in the last year was earned by agrarians.

However, this year saw a number of external factors that have complicated the management of agribusiness. Inflation and exchange rate fluctuations have threatened the loss of part of the profit made in the previous year...

Avoiding Common Scams and Pitfalls in International Commodities Trade

Pavlo I. Byelousov

Agriculture has historically been one of the most important industries in Ukraine and is likely to retain such a position in the future. A number of Ukrainian companies have long been  participants of the international agricultural market, having learned a hard lesson in working with more experienced and sophisticated international counterparties, and many more are yet to learn it.

The lesson they have learned pertains mainly to the volatility of the international commodity market, where prices may change rapidly and significantly...

Ukrainian Themis: Looking up to the West or the Wild, Wild East?

Ivanna A. Dorichenko, Ivan V. Kasynyuk

It is sad but inevitable that times of changes and challenges prompt people to leave Ukraine and search for a better destiny abroad.  But what makes Ukrainian lawyers, who are self-sufficient pillars of the rule of law, look for other destinations? The answer may well be found in the below story of a dispute between two Ukrainian agriculture heavyweights, PC Rise (sellers) and Nibulon (buyers) that culminated in a recently reported English High Court ruling in Public Company Rise v Nibulon SA (2015)1.

Deals

Deals

EPAP Ukraine advised Apax Partners LLP

AEQUO advised European Commission on granting macro-financial assistance to Ukraine

Dentons advised Export Development Canada

Avellum Partners advised MHP S.A.

EPAP Ukraine assisted Kemira Oyj

Baker & McKenzie advised on sale of stake in Rozetka

 

Cases

Cases

Penalties cancelled for flights to Crimea by Russia’s Aeroflot

UAH 400,000 fine and penalty against Nemiroff enforced

Ukraine International Airlines to make payment to state budget

Procedure initiated to convict 6 former officials in absentia

Vasil Kisil & Partners represented Hongyang Metal Industry

Draft

Draft

Introduction of misdemeanors

Reform of the judicial branch

State energy and utilities regulation

Law Digest

Law Digest

E-appeal and e-petition

Production of electricity from alternative sources

Chamber News

Chamber News

U.S. exporters informed about opportunities in Ukraine

Ukraine has chance to become the main IT Services Supplier in the world

UBA News

UBA NEWS:

UBA Legal Counsel Section and PACG Joint Round Table

UBA Committee on Constitutional Law, Administrative Law and Human Rights as to Constitutional Reform Meeting

Biznews

Biznews

Banking & Finance:

Cabinet of Ministers set to increase Ukrgasbank’s capital

National Bank has officially registered WebMoney in Ukraine

Merger & Acquisition:

Investigation into proposed acquisition of TNT by FedEx

International Monitoring:

Samsung creates a bank in China to support its offshoots

Aviation:

Ukrainian Airlines will be defunct by year end

Antimonopoly Committee of Ukraine:

Concentration on low-alcohol beverages market

Cover Story

Agrarian Uniqueness

In all times, the Ukrainian agrarian sector has been considered an engine of the country’s economy. Even in extremely difficult economic stages, the agrarians managed to raise funds, adjust production for local consumption and enhance export capabilities. And expectedly the strategic importance of the sector is pivotal  for economic recovery too. Thus, the upcoming reforms in legislation should be exceptionally well-thought-out process. As we found out from Oksana Kryzhanivska, partner at Alexandrov & Partners Law Firm, it entails numerous pitfalls and requires very serious considerations...

Global Legal Update

Tax Consequences of the Disposal of Corporate Rights in the Netherlands

Nataliia M. Tuzheliak

Acountry’s tax regime is always a key factor for any business considering new markets’ exploration. In recent times, there has been increasing interest in Netherlands from multinational companies wishing to avoid supposed tax havens and blacklisted jurisdictions. In this regard, this article aims to address the major tax consequences of the repayment of share premium to the shareholders, securities disposition and dividend distribution in Netherlands with the prospects of EU Parent-Subsidiary Directive...

Venue

IP: New Challenges & Prospects

The II Intellectual Property Forum 2015, which was held by Yuridicheskaya Practika Publishing on 18 June 2015 at the Premier Palace Hotel in Kiev, has become a unique platform for dialogue between IP specialists.

The forum kicked off with a panel discussion devoted to prospects for IP in Ukraine. Alla Zharinova, head of the State Intellectual Property Service of Ukraine (the SIPSU), Bohdan Lvov, head of the Higher Commercial Court of Ukraine, Olena Orliuk, director of the Intellectual Property Research Institute of the National Academy of Law Science of Ukraine, Oleksandr Mamunya, partner of AEQUO, Julia Semeniy, partner of Asters, Yaroslav Ognevyuk, partner of Doubinsky & Osharova, discussed such issues as strategy of IP reform by the Ministry of Economic Development and Trade of Ukraine and the SIPSU, role of the state in administration of IP, legislative initiatives in IP for the improvement of investment climate in Ukraine, attempt of the executive authority to exclude IP special subject from the science...

ECA-Flavor Opens Up in Georgia

This forum has its very own flavor. This comment by Valikhan Shaikenov, partner of the Aequitas Law Firm (Almaty) on 10th ECA (Europe – Caucasus – Asia) Legal Forum that was held in Tbilisi and hosted by BLC Law Office, was probably the best way to describe the history of this annual venue and its uniqueness.

On 17–20 June the Georgian capital welcomed guests from the wider ECA region with gorgeous wine, sceneries and its own achievements of bringing radical reforms into life...

Crux

In the Stream of Change

The hot summer period in Ukraine is accompanied by streamlined legislative changes across various rules of the business climate. The UJBL editorial staff has asked experts from Ukrainian law firms to comment on selected laws recently signed by the President, his legislative initiatives and last amendments to currency regulations from the NBU...

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