The National Bank of Ukraine (NBU) is further easing currency controls The NBU has further eased the currency control regulations imposed on 24 February 2022 in response to russia’s ongoing military aggression. NBU’s aim in easing the controls is to boost investment activity. Paying for war risk coverage is allowed Ukrainian residents may now pay foreign companies for war risk…
Read MoreThe Ukrainian financial sector has been severely impacted by Russia’s invasion in February 2022, resulting in significant harm to the population and extensive destruction of productive capital and infrastructure. This has notably affected the profitability and solvency of businesses, especially those with assets in areas near hostilities or in temporarily occupied territories. To address the challenges of martial law, amendments…
Read MoreDmytro Fedoruk, Partner at Redcliffe Partners, participated as a representative of Ukraine at the CEE Legal Matters Round Table on Oil & Gas, joining experts from Bulgaria, Croatia, Moldova and Turkey. Moderated by CEE Legal Matters’ Radu Cotarcea, the discussion focused on key developments in the field of oil & gas over the past few years. Dmytro shared insights on…
Read MoreWe are proud to announce that two of our partners have been recognised by Who’s Who Legal (WWL) 2024. WWL has recognised: 🏆 Olexiy Soshenko, Managing Partner, as a Global Leader in the fields of Banking – Finance, Banking – Regulatory, and Project Finance. 🏆 Zoryana Sozanska-Matviychuk, Partner, as both a Thought Leader and Global Leader in the field of…
Read MoreStandard procedure The Phase I review of a merger filing under the standard procedure may take up to 45 calendar days. This period consists of: preview period (15 calendar days), during which the Antimonopoly Committee of Ukraine (the ‘AMC‘) decides whether the filing is: complete and may be accepted for review on substance; or incomplete and should be rejected; review…
Read MoreUkrainian competition law provides that the following transactions, which are recognised as ‘concentrations‘, require prior merger clearance if the jurisdictional thresholds are met: merger of independent undertakings or takeover of one independent undertaking by another; [NB: under Ukrainian merger control rules, ‘mergers’ and ‘takeovers’ have the following meanings: ‘mergers’ – all merging entities cease to exist post-merger, and there is…
Read MoreStarting from 4 May 2024, the NBU is lifting many of the currency control limitations introduced due to the Russian invasion. In particular: 1. Repatriation of “new” dividends is allowed Since 24 February 2022, it has been prohibited to repatriate dividends from Ukraine. From 13 May 2024, the NBU is allowing to repatriate eligible dividends in the amount of EUR…
Read MoreNotifiability tests in Ukraine A concentration requires a merger clearance before closing if either Test A or Test B below is triggered for the preceding financial year: TEST A (at least two parties have turnover or assets in Ukraine): Ukrainian turnover or assets value of each of at least two parties > EUR 4 million; and combined worldwide turnover or…
Read MoreRedcliffe Partners is thrilled to announce that our deal on advising the Development Finance Corporation (DFC), the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) on a USD 480 million financing to MHP has been recognised as the 2023 Deal of the Year in Ukraine by CEE Legal Matters! The success of this deal could…
Read MoreLast week, Dmytro Fedoruk, Founding Partner, and Yuriy Terentyev, Partner Antitrust, traveled to Washington, DC for meetings. Dmytro then traveled to Columbia, South Carolina to speak as part of the Next4Ukraine panel on important issues related to Ukraine. One critical topic in the US is how frozen Russian assets can be utilized to redress damage, injuries, and death caused by…
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