New ICC Rules of Arbitration Effective 1 January 2021
19 January 2021

On 1 January 2021, following work undertaken jointly by the International Court of Arbitration (the "Court") of the International Chamber of Commerce (the "ICC") and the ICC Commission on Arbitration and ADR, the amended ICC Rules of Arbitration entered into force. We have selected for your attention the most notable innovations introduced by the 2021 ICC Rules of Arbitration (the "2021 Rules").

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Redcliffe Partners and ICC discussed the 2021 ICC Rules of Arbitration with focus on energy, construction and infrastructure
21 December 2020

Redcliffe Partners and ICC Ukraine have recently hosted a webinar on "Changes to the ICC Rules of Arbitration as of 1 January 2021: what the business should know", which focused on construction, energy and infrastructure. During the event, speakers discussed key innovations of the Rules that embody current global trends in international arbitration and aim to increase the ICC’s efficiency, transparency and adaptability.

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Quotas and schedule of the first renewable energy auctions in Ukraine presented by the Ministry of Energy
04 December 2020

On 3 December 2020, the Ministry of Energy of Ukraine (the "Ministry") presented the long-awaited quotas and schedule of holding the first renewable energy auctions in Ukraine, due to be launched in 2021. This marks another important step on the way to implementing on a competitive basis the support mechanism for renewables in Ukraine. The general legal framework for renewable energy auctions was introduced following the adoption of law No 2712-VIII "On the Amendment of the Laws of Ukraine in Regard to Ensuring the Competitive Terms of Electricity Production from Renewable Energy Sources", in May 2019. In December 2019, the Government approved the procedure of holding auctions. However, the quotas and schedule have not been approved, delaying the launch of auctions initially due in 2020. Once launched, auctions are expected to spur growth in the renewable energy industry, increase competition and reduce the cost of electricity.

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The Gaming Law came into effect and permits gambling in Ukraine
17 November 2020

On 13 August 2020, a new Law of Ukraine No. 768-IX dated 14 July 2020 "On State Regulation of Organising and Conducting Gambling Activity" (the “Gaming Law”) came into effect and permits gambling in Ukraine, which had been banned since 2009.

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The first Ukraine Road PPP Programme, based on the OPRC model and availability payments, has been announced
05 November 2020

The Ministry of Infrastructure of Ukraine and the State Road Agency of Ukraine (Ukravtodor), together with the IFC, the Global Infrastructure Facility, and the World Bank, have recently announced the first Road PPP Programme, which aims to raise much-needed private investment in the rehabilitation, operation and maintenance of public roads, and to increase the efficiency of the road sector in Ukraine.

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Ukrainian competition authority suggested new merger control thresholds (update)
04 November 2020

On 28 October 2020, the Antimonopoly Committee of Ukraine (the "AMC") submitted to the Ukrainian Parliament the proposed amendments to the draft law introducing new merger filing thresholds in Ukraine. The amendments have been developed by the AMC in co-operation with competition law experts from the EU and the USA.

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New merger control thresholds in Ukraine and other news from the AMC
23 October 2020

On 21 October 2020, during the kick-off event of the EU-funded Twinning Project, the Antimonopoly Committee of Ukraine (the "AMC") announced that it is preparing the draft law that will introduce amendments to the Ukrainian merger filing thresholds. The AMC will submit the draft law to the Ukrainian Parliament early this November and expects it to be adopted later this year.

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Ukraine launches privatisation of large state-owned alcohol producer, Ukrspyrt
04 October 2020

In recent years, Ukraine has made significant moves towards the development of its alcohol production market. In December 2019, Ukraine adopted a law abolishing the monopoly of Ukrainian state-owned alcohol producer, Ukrspyrt, and announced the upcoming privatisation of Ukrspyrt's assets.

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Svitlana Teush has been promoted to Partner
10 September 2020

Redcliffe Partners is pleased to announce the promotion to partner of Svitlana Teush, who leads the firm’s Renewable Energy, Real Estate and Construction practices.

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Ukrainian capital markets major reform
19 August 2020

For many years, Ukrainian capital markets have barely functioned due to significant gaps and inconsistencies in the underlying legislation. The new law No. 2284 “On Capital Markets and Organised Commodities Markets” (the “New Law”) which was officially published on 15 August 2020 aims at restarting Ukrainian capital markets. It brings Ukrainian legislation in line with key provisions of the EU laws on capital markets (MiFID II, MiFIR, EMIR, Settlement Finality Directive and Financial Collateral Directive). The New Law creates a framework for dynamic capital markets and commodity markets, and regulates derivatives matters.

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