Redcliffe Partners Partner and Co-Head of Energy Albert Sych, talks about the evolution of the energy market and their role as legal advisors in Ukraine over the last 10 years in an Interview for CEE Legal Matters. CEELM: What types of energy projects have dominated your team’s workload in the last 10 years, and how has this focus changed over…
Read MoreSince the war began in 2022, Ukraine’s economy has suffered its biggest losses since independence, among other problems. All participants in the financial sector have experienced severe damage. The National Bank of Ukraine (“NBU”) imposed a moratorium on cross-border payments to resolve the situation and adapt to the current environment to the extent possible. As the situation improved over time…
Read MoreUkrnafta, the leading Ukrainian oil & gas company, invites international investment and production companies to participate in the joint development of 21 fields, being 10 deposits in western Ukraine and 11 in eastern Ukraine, representing proven and probable reserves of 12 million tonnes of oil and over 31 billion cubic metres of gas. This opens up a significant investment opportunity in…
Read MoreIn June 2023, the National Bank of Ukraine allowed Ukrainian corporate borrowers, during the existing cross-border payment moratorium, to make payments to development finance institutions (“DFIs”) (e.g., foreign export credit agencies and state development institutions). However, the relaxation explicitly prohibited borrowers from making any early repayments, whether voluntary or resulting from acceleration in the case of an event of default….
Read MoreThe new law of Ukraine amending the local merger control rules has been finally published. The amendments will enter into force on 01 January 2024. Those have been developed by the Antimonopoly Committee of Ukraine (the “AMC“) in cooperation with competition law experts from the EU and the USA. The major changes in the merger control regime proposed by the…
Read MoreOn 11 September 2023, the conference for the Register of Damage for Ukraine (the “Register“) laid the foundation for compensation for war-related damages. The conference focused on financial issues and the procedure for appointing the Register’s Board. The conference resulted in the following: 1. The Register will be fully operational by the first quarter of 2024. That will enable the affected businesses to file…
Read MoreSince the outbreak of the war, Ukrainian banks have faced severe financial losses and risks caused by a large migration of the Ukrainian population abroad, ongoing hostilities, decreases in clients’ solvency, inflation, credit portfolio losses, and martial law limitations. The National Bank of Ukraine (the “NBU”) reported that the profit of the banks decreased by three times in 2022 compared…
Read MoreAs the one-year of russia’s invasion of Ukraine approaches, CEE Legal Matters caught up with Redcliffe Partners’ Managing Partner, Olexiy Soshenko, to understand how he has adapted to the new circumstances. The war has profoundly impacted Ukraine, its people and its businesses, including the legal profession. Safety and emotional well-being were paramount concerns for law firms during the initial period of the war. Soshenko…
Read MoreSince 24 February 2022, when Russia launched its illegal full-scale invasion of Ukraine violating the very essence of international law and common values of humanity, life for millions of Ukrainians has dramatically changed. Since then, our country has been facing enormous challenges both in public and private sectors, which, inter alia, includes the banking sphere. After a few months following…
Read More2022 was a challenging year. To put a more positive spin on things, Redcliffe Partners Managing Partner Olexiy Soshenko shared with CEE Legal Matters what was, for him, the biggest positive surprise in 2022. “In 2022 in Ukraine, it is somewhat difficult to speak of positive surprises,” Soshenko begins. “However, looking back at 2022, there was a great deal of…
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