23 December 2017
As stated by the President of Russia Vladimir Putin, the state is ready to help domestic businesses on a Pro Bono basis to return capital from abroad by issuing foreign currency bonds. This good for the part of entrepreneurs the news the President announced on December 21 at a meeting in the Kremlin. The issue of the “bonds of external loans denominated in foreign currency” is scheduled for next year. According to the President, the government and the Central Bank has already elaborated this issue, it remained for the technical issues – issue details and conditions.
22 November 2017
Starting September 2017, the EU-Ukraine Association Agreement (the “Agreement”) entered into force. According to the Agreement, Ukraine, among other things, has taken certain obligations for IP, though it was not clear whether they should apply with an immediate effect or after conflicting Ukrainian laws are changed. Recently, the Patent office finally explained that the Agreement will be applied in full and prevail over the national legislation, including the most relevant changes as follows.
15 November 2017
In 2010, Ukraine ratified the Council of Europe Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data 1981 (“the Data Protection Convention”). Further to such ratification, in 2011 the Law of 1 June 2010 No. 2997-VI on Personal Data Protection (“the Personal Data Protection Law”) was enacted to become the cornerstone of national data protection legislation.
13 October 2017
Senior Associate Alexey Karchiomov and Associate Yulia Beliakova have become the authors of Russian Overview for Getting the Deal Through: Shipping 2018.
5 October 2017
According to the surveys from previous years, majority of around one hundred participating companies reported that they have faced corruption while working in Ukraine (81% in 2016 and 88% in 2015). Here is the slide from ACC’s last report showing the most widespread forms of corruption:
It is safe to assume that most of the participants encountered at least one of the above-mentioned types of graft during the recent years.
8 September 2017
Federal Law No.259-FZ dated July 29, 2017 (the “Law”) introduced significant amendments to the Civil Code of the Russian Federation (“the Civil Code”) in regard to the regulation of inheritance-related matters. One of the key novelties was the emergence of a new tool – estate funds.
The Law provides for procedures to set up an estate fund, determines the legal status of its beneficiaries and sets forth procedures for managing the fund. The Law will take effect on September 1, 2018.
23 August 2017
A team of associates from the Corporate and M&A Practice at EPAM provided legal advice on a transaction involving the sale of shares in one of the companies belonging to National Media Group.
27 July 2017
EPAM Ukraine criminal law team recently defended a global producer and distributor of crop protection products in criminal proceedings initiated by the enforcement and customs authorities with respect to import of its products to Ukraine.
25 July 2017
On July 1, 2017 entered into force the Federal Law dated July 1, 2017 No. 155-FZ “On amendments to Article 5 of the Federal Law “On the Privatization of State and Municipal Property” and the Federal Law “On the Procedure for Making Foreign Investments in Companies which are of Strategic Importance for Ensuring the National Defense and State Security” (hereinafter – “Law No. 155-FZ” and “Strategic Investments Law” respectfully).
14 July 2017
On 2 June, on the sidelines of the 21st St. Petersburg International Economic Forum, a cooperation agreement was signed between the Government of Leningrad Region and joint stock company Knauf Petrobord, a member of the Knauf Group. The agreement includes an investment by Knauf of at least RUB3.5bn to renovate production facilities for cardboard facing over the period to 2020, and provision of investor support by the Government of Leningrad Region.
5 July 2017
The Constitutional Court of the Russian Federation has accepted arguments made by EPAM Partner Dmitry Stepanov and found Article 302, Paragraph 1 of the Civil Code of the Russian Federation unconstitutional.
29 June 2017
EPAM has assisted Knauf Petrobord on its June 2, 2017 entrance into an agreement with the Government of Leningrad Region involving Leningrad's funding of at least RUB 3.5 billion to renovate production facilities for cardboard facing before 2020.
23 June 2017
Within the last month the National Bank of Ukraine (the “NBU”) adopted several resolutions aimed at further liberalization of the existing currency control restrictions.
19 June 2017
Ukraine has, for the past few decades, suffered from widespread corruption. The country has been consistently listed towards the bottom end of Transparency International’s Corruption Perceptions Index, and those appointed to enforce anti-corruption laws have themselves been among the worst offenders. Cases which have emerged have focused almost exclusively upon low level officials, and convictions have been few and far between. So much so, offenders have hitherto operated with almost complete impunity.