Ukrainian Parliament adopted the new Law of Ukraine "On
Enforcement Proceedings" and the Law of Ukraine "On State
Bodies and Persons who Carry Out Enforcement of Court Judgments and
Decisions of other State Bodies" (both – Enforcement
Laws). These laws are aimed at improving state enforcement
procedures and increasing the protection of creditors' rights
in Ukraine. Enforcement laws come into force gradually. Certain
important changes are outlined briefly below:
Starting from 5 October 2016
The term for submission of
enforcement documents for enforcement is extended from one year to
three years. Exceptions to that rule include, in particular,
enforcement documents where the creditor is either the State of
Ukraine or a state body – three months. The above rule will
also apply to enforcement documents issued before the Enforcement
Laws' entry into force.
Advance payment of the enforcement
fee by the creditor. The Law of Ukraine "On Enforcement
Proceedings" sets out a list of exceptions when a creditor is
released from the aforementioned advance payment (e.g., recovery of
salary, tort loss and others) and puts a ceiling on its maximum
Starting from 5 January 2017
The Unified Registry of Debtors (the
Registry) is set up. This will be a public registry where all
outstanding debtors under enforcement documents will be indicated
(save for exceptions). If a debtor, who is indicated in the
Registry, applies to a state registrar or a notary with the aim to
alienate its property, such state registrar/notary must deny a
debtor's query and notify the enforcement officer. Any
transactions with debtor's property made during the period when
the debtor is indicated in the Registry may be invalidated by the
Private enforcement officers are
introduced. In addition to state enforcement officers, private
enforcement officers may enforce enforcement documents and have a
whole gamut of state enforcement officer's powers. There is a
list of exceptions, when enforcement documents may be enforced only
by state enforcement officers (e.g., enforcement documents against
state and municipal bodies, state, municipal property, state
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Dentons will hold a Competition Breakfast Seminar on February 28, 2017 titled: Rebates and discounts under EU competition law – lessons of the Intel case. Renowned competition lawyer James Venit from Dentons’ Brussels office will be joining co-heads Tihamér Tóth and Tünde Gönczöl of Dentons Budapest’s
You are cordially invited to a practical seminar on private antitrust enforcement in light of the soon to be implemented Damages Directive, which we address to the banking and finance sector. During the seminar we will present new tools designed for cartel damages litigation in light of fast forwarding the legislative process in Poland from a lawyer’s and an economist’s perspective. We will discuss examples of private antitrust litigation from a jurisdiction where the system is already effective and consider whether third party litigation funding is an option in Poland. All these points will help you identify potential claims against other market players and prepare a defense strategy against private enforcement claims targeting your institution.
From March 2 to 14, 2017, the “Invest & Trade in Ukraine ’17 – Transatlantic” conference series will take place in four North American economic centers – Toronto, New York, Houston and San Francisco. A7 CONFERENCES and Dentons are co-organizing the conferences under the patronage of the Ministry of Foreign Affairs of Ukraine.
The sixth international "Invest & Trade in Ukraine" road show will bring together large, medium and small companies from Ukraine, Canada and the US to expand cross-border business cooperation and create a strong business development platform for the future. Each part of the tour will be followed by open discussions and meetings between investors and the senior management of Ukrainian, American and Canadian companies. This year the forum is focused on three sectors – agribusiness, infrastructure and energy.
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