The Verkhovna Rada, the nation’s parliament, on Oct. 14 adopted a law that requires Ukrainian companies to disclose their true owners. The move is aimed at fighting corruption as many elected officials and others hide their ownership of companies and fail to disclose conflicts of interest.
Ukraine’s identity crisis has pushed lawyers to set personal politics aside to help clients protect assets, restructure businesses and negotiate unprecedented deals with Russian lawyers.
The Ukraine crisis has raised questions over which rule of law to follow, but the flight of international investors is giving local firms an advantage.
Long-overdue reform of the domestic banking sector is increasingly the objective of the business community in Ukraine, GTR has learnt, as international lenders continue to consider their exposure to risk in a market mired by war and in the midst of currency crisis.
International Antitrust Bulletin by ABA Section of Antitrust Law publishes an artcile by Anna Numerova and Elena Kazak.
Mikhail Kazantsev, Arkady Krasnikhin, Michael Copeland, Roman Malovitsky and Mark Rovinskiy authored the Russia chapter of Private Equity Jurisdictional comparisons: Second Edition 2014.
GAR publishes an article by Dmytro Marchukov and Serhii Uvarov on arbitrating Crimea-related commercial disputes.
An article by Dmitry Tugushi and Roman Krylov is published in International Litigation News, Newsletter of the International Bar Association Legal Practice Division.
Russia is considering a tax amnesty for Russian-owned offshore companies as part of a wider effort to encourage the repatriation of capital and discourage the use of offshore companies for tax avoidance, a government spokeswoman told Tax Analysts.
Egorov Puginsky Afanasiev & Partners has made a number of promotions in its Moscow office. Real estate and construction lawyer Elena Gavrilina has been made partner, litigators Alexander Vaneev and Vera Rikhterman have become counsel and competition lawyer Elena Kazak is promoted to senior associate.
The Finance Ministry is pushing ahead with its program to entice Russian-owned offshore firms to repatriate capital. A new law will impose penalties on such companies for tax evasion, but offers the carrot of a 2-year amnesty for those firms which decide to relocate to Russia.
Russia’s competition authority Federal Antimonopoly Service (FAS) is likely to face more legal challenges over its warnings to dominant companies on anticompetitive practices after the country’s Supreme Arbitration Court (VAS) ruling allowing Gazprom’s subsidiary to dispute a warning against it at arbitration courts, two Moscow based lawyers said.
Newsletter of the International Bar Association Legal Practice Division publishes an article of Oleg Ushakov and Alexander Filchukov.
National Bank of Ukraine ex-governor Stepan Kubiv let the hryvnia freely float when he was appointed to the post more than three months ago, but he kept a measure in place to mandate foreign currency earners to convert half their revenue to hryvnias.
The Finance Ministry is finalizing plans to levy a property tax on individual homeowners and ratchet up the cost by pegging the tax rate to cadastral property values.
