Insights

Where Are the Success Stories of Business Resisting Corruption? | Orest Stasyuk , Compliance Periscope

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.

Probate Law Reform: Maintaining Estate Funds

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.

EPAM Provide Legal Advice on Sale of Shares in National Media Group Company | The Lawyer

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.

Success in Ukraine Crop Protection Products Import Case | The Lawyer

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.

Foreign Investment in Russia. Recent Amendments

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).

EPAM Advises Knauf on Leningrad Investment Agreement | The Lawyer

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.

EPAM Successful for Private Individual in Claim Before Russian Constitutional Court | CEE Legal Matters

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.

EPAM Supports Knauf in RUB 3.5bln Investment Agreement With Leningrad Regional Government | CEE Legal Matters

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.

Summary of Recent FX Novelties and Liberalization Steps

Within the last month the National Bank of Ukraine (the “NBU”) adopted several resolutions aimed at further liberalization of the existing currency control restrictions.

Anti-Corruption Framework Under Construction in Ukraine | contribution to IBA Anti-Corruption Committee Update by Sergiy Grebenyuk and Orest Stasiuk

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.

EPAM advises Danone Russia on Soyuzmultfilm JV | The Lawyer

EPAM has advised Danone Russia on its entry into a joint project with Soyuzmultfilm.

EPAM Advises Danone Russia on Joint Venture with Soyuzmultfilm | CEE Legal Matters

EPAM has advised Danone Russia on its entry into a joint project with Soyuzmultfilm.

On Possible Amendments to the “De-Offshorizatsia” Law | Reuters cites EPAM survey

Some of Russia's super-rich have given up residency to escape a 2014 law requiring them to disclose offshore assets, wealthy businessmen told Reuters, a practice that could keep billions of dollars hidden from Moscow's tax authorities.

EPAM Advises Special Committee of Bondholders on Restructuring of Roust Group | CEE Legal Matters

EPAM has acted as legal advisor to the special committee on the rights of Russian bondholders in the international debt restructuring of the Roust Corporation, which the firm describes as "one of the largest producers of vodka in the world."

On Toughening of Compensation for Non-resident Transport Services in Ukraine | commentary of Oleksandr Maydanyk, Bloomberg BNA

Non-resident taxpayers in Ukraine will incur a 15 percent tax on compensation for international transportation services when they act as intermediaries for these services, the Ukrainian State Fiscal Service (SFS) has said.