On 19 January 2013 a new draft of the Ukrainian Law on Restoring Debtor’s Solvency or Declaring Debtor Bankrupt (hereinafter referred to as the “Law”) came into effect. The new draft introduced into Ukrainian legislation the cross-border insolvency concept which is well-known to the majority of jurisdictions.
The 2008 financial crisis peak had hardly faded away, when another breaking news was brought to the surface in CIS countries: a significant part of the funds advanced during the pre-crisis period by banks and other financial institutions to support various businesses and commercial initiatives, flew beyond national frontiers to be found in Panama, BVI, […]
In the recent years international legal community has been widely discussing the need for, and the limits of, application of the piercing the corporate veil doctrine. Having its origins in common law countries, first and foremost the USA and the UK, the doctrine allows disregarding corporate shield of legal entities and is now quite familiar […]
Сегодня мы решили разместить в нашем блоге достаточно интересный с профессиональной точки зрения обзор порядка разрешения споров в двух отраслевых арбитражах – арбитраже под эгидой Международной ассоциации торговли зерновыми и кормовыми товарами (ГАФТА) и арбитраже при Федерации ассоциаций торговли масличными культурами, семенами и жирами (ФОСФА). Эти виды арбитража для многих производителей, трейдеров, покупателей являются обычным делом, […]
Introduction When bankruptcy proceedings are opened against a Ukraine-registered debtor company, a register of creditors’ claims must be formed in order to decide on debt repayments. If a creditor does not file an application for entry into the register, its claim will be considered discharged. To be entered into the register, the creditor’s claim must […]
The Presidium of the Ukrainian Chamber of Commerce and Industry (UCCI) recently amended Article 52 of the Rules of the International Commercial Arbitration Court (ICAC) at the UCCI. This article governs the procedure for forwarding an arbitral award to the parties to arbitration proceedings. Background Article 52(1) of the rules, which were approved by a […]