Use of the Escrow Account in Ukraine and Abroad

Anastasiia Poels

Almost every major transaction in Ukraine, whether shares or real estate or other pricy goods at stake, goes through the famous Ostap Bender’s negotiating phase: chairs in the evening, money in the morning. Where the goods cannot be handed over from hands to hands simultaneously with  consideration for it, long negotiations “who is first?” and consequent complicated schemes of enforcement of obligations are put in place to ensure that every party gets what it is expecting under the contract...