CURRENT ISSUE (October 2019)

In focus – Private equity and venture capital

When a business is on its development track it requires financing and good governance practice, managerial expertise and strategic vision. Private equity and venture capital funds overdraw the role of powerful investors with the articulated function of improving economic efficiency and speeding up growth. The case of Rozetka’s marketplace is the most distinctive example of a successful project involving a private equity firm.

Expert Opinion

The Role of Corporate Governance in Private Equity Investments

Taras Dumych

This article analyzes and discusses legal and practical aspects and the role of corporate governance in private equity (PE) investments in Ukraine. As PE, especially Ukraine-focused, has always been of a multinational nature, it would be a mistake to consider PE-related corporate governance from the Ukrainian perspective only, and not to take into account the applicable cross-border elements. Thus, the article addresses both the Ukrainian specifics as well as multinational and cross-border specifics of corporate governance.

In Re

Venture Capital: Ukrainian Reality

Yura Kornaga

Ukraine overview

It is quite obvious that recently the Ukrainian VC sector and IT industry as a whole have made if not a quantum leap but a very visible leap. The number of investment-friendly IT companies has grown substantially, so there is considerable growth in the number of investment deals signed. Public deals made in recent years relate not only to product companies but to outsourcing, including large ones.

News

Deals

AEQUO advised Raiffeisen Bank International

AVELLUM advised ICU

Cases

EU court saved transit of Russian gas through Ukraine – Poland

Fine imposed on Roche Ukraine by AMCU annulled

Supreme Court altered position and forbade State Enforcement Service to enforce sale of Prominvestbank

Privatbank subsidiary fined EUR 1 million in Latvia

Triolan provider fined  UAH 3.7 billion

Draft

Parliament adopted draft law on lease of state-owned property

Draft Law On Tax Amnesty published

Parliament upheld introduction of changes to ProZorro system

Draft Law on opening up agro land market from 2020 made public

Biznews

Energy

State HEP plant sold for more than UAH 100 million

Investment

Google to invest EUR 3 billion into European data centers

International Monitoring

Fitch improves Naftogaz rating

40% of all foreign direct investment in world fictitious

Sanctions

EU extended personal sanctions against Russia for six more months

Life Science

Biopharma has launched a plasma fractionation plant

Economic Forecasts

Business forecasts exchange rate at UAH 28 per dollar in 2020

 

Law digest

Law on “splitting” financial services regulator adopted

NBU lifted currency restrictions for non-residents

Parliament upheld decriminalization of fictitious entrepreneurship

President signed decree on urgent measures in economy

Cover Story

The Next Level

Private equity investments have for a long time been playing an important role in developing Ukrainian businesses and taking them to the next level, while venture capital is on the rise with some landmark Ukrainian companies becoming global players in the high-tech sector. In fact, both private equity and venture capital have reached the level where each can be defined as a separate industry.

How To

Contracts Design: How to Take the Next Step and Make your Contracts User-Friendly

Vitalii Kacherovskyi

First there was a contract

We all have different relations with contracts: some of us love them, some have mixed experiences, while some may even hate them.

Needless to say, contracts are one of the most important things in life of any business and a successful operation often depends on agreements that were made.

Argument

Arbitrability of Corporate Disputes: International Models & Experience of Ukraine

Elena Koch

Arbitration, as an effective alternative dispute resolution method, has gradually turned into the main one for international commerce due to its flexibility, promptness, impartiality and a number of other advantages. Arbitration of corporate disputes is often preferable for parties, though it can appear to compete with domestic public policy. Thus, the issue of corporate disputes arbitrability has been a matter of a discussion, particularly with regard to the nature of corporate disputes, definition of this term in different jurisdictions, their meaning for international and domestic public policy. This issue is of special importance considering variable case law worldwide on the stage of recognition and enforcement of arbitral awards in corporate disputes.

Investment Treaty Planning – is Your Investment Structured Well?

Olexander Martinenko, Оlga Shenk

Why is it necessary?

When structuring investments in Ukraine, investors usually keep in mind a variety of considerations — tax, commercial, corporate, financial, etc. Yet, there is one more factor that may seemingly play an insignificant role at the outset of entering the Ukrainian market, and may yet become a life rope when the investor runs into troubles with the local authorities.

Crux

Legal Digest

With the start of the new political season, we can observe an extremely high level of legislative activity inside the Ukrainian Parliament itself, as well as from the President of Ukraine and from the Government.
In the previous month a significant number of draft laws were examined and adopted by Parliament, like the widely discussed “split law”, On Amendments to the Tax Code of Ukraine on Specifics of Applying Special Reporting for Breaches Committed by Individuals of Tax and other Laws Controlling those Laws on Control Authorities up till 31 December 2018, known as the “draft law on tax amnesty” and many others.
Another recent highlight was the signing of the Singapore Convention on Mediation. The UJBL editorial team asked experts to provide their comments on the most important ones.

 

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