Redcliffe Partners Partner and Co-Head of Energy Albert Sych talks about the evolution of energy and their role as legal advisors in Ukraine over the last 10 years.
Redcliffe Partners has advised the IFC, EBRD, and DFC on their USD 480 million loan to Ukrainian poultry and grain producer MHP. Avellum advised MHP. CMS and Harneys reportedly advised the DFC and EBRD, with Harneys and Baker Botts reportedly advising the IFC.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As key steps, requirements, and timeline for becoming a Partner may vary from firm to firm, this time we asked: Does your firm have a formal Partnership Track and if yes, what does it involve?
Integrites has advised the Kovalska Group on a EUR 27 million long-term secured loan from Dutch Invest International to finance the construction of a new aerated concrete production plant in Rozvadiv, Ukraine. Redcliffe Partners, working with the Amsterdam office of Clifford Chance, advised the lender.
Despite the ongoing challenges generated by the Russian invasion, the markets in Ukraine have seen surprising levels of activity, according to Rob Shantz, a Corporate and Compliance Partner with Redcliffe Partners. In the midst of it all, Shantz remains optimistic about the future, envisioning a busy legal market as Ukraine aligns more closely with the EU, leading to significant opportunities in the country's rebuilding efforts once the war is over.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With the first quarter of 2023 wrapped up, we turned to the future and asked: In which practice area do you expect the most growth – in terms of work volume – in the next 12 months?
The Ministry of Infrastructure of Ukraine is to resume work leading up to the grant of concession of three terminals of the Chornomorsk seaport, one of the largest seaports in Ukraine. In particular, the concession is to cover the first (cargo) terminal, the container terminal, and the fifth (railway and ferry) terminal.
2022 was a difficult year. To put a more positive spin on things, Rojs Peljhan Prelesnik & Partners Managing Partner Bojan Sporar, Deloitte Legal Senior Managing Associate Ened Topi, Redcliffe Partners Managing Partner Olexiy Soshenko, Drakopoulos Managing Partner Panagiotis Drakopoulos, and Polenak Partner Tatjana Shishkovska share what was, for them, the biggest positive surprise in 2022.
March 2022 was a breakthrough month for the virtual assets market in Ukraine. With the help of Ukraine‑based Everstake and Kuna, the Ministry of Digital Transformation of Ukraine set up a fund to accept donations in crypto assets to primarily support Ukraine’s military needs. According to the Ministry, Ukraine’s government has raised over USD60 million in crypto donations to date. Also, Unchain Ukraine, a project of Ukrainian blockchain activists, launched a card that has been marketed as ‘the first charitable cryptocurrency card’ powered by Weld Money and Unex Bank. The crypto assets raised are exchanged into UAH and made available to women and children in need using Unchain Help Card, a virtual card issued by Unex Bank.
On 24 February 2022, the National Bank of Ukraine, in response to the introduction of the martial law in Ukraine initially imposed for 30 days but subsequently extended currently until 25 May 2022, issued Regulation No. 18 on banking system operations during martial law to prevent unproductive capital outflows from the country and to ensure the reliable and stable functioning of Ukrainian banking system during the time of war.
This year marks the start of a new era for all Ukrainian taxpayers – both corporate and individuals. Ukraine lawmakers up to – and especially in – 2021 made unprecedented efforts to implement into local law and the network of double tax treaties major recommendations and principles which went far beyond the minimum base erosion and profit shifting (BEPS) action plan Ukraine committed to in 2017.
On 15 February 2022, a long-awaited draft law No. 5436-d “On the Amendment of Certain Laws of Ukraine Regarding the Development of Energy Storage Facilities” (“Draft Law“) was adopted in its entirety by the Ukrainian Parliament at its second reading. The Draft Law develops the legal framework for the deployment of energy storage facilities (“ESF“), which has been very limited until now, and introduces relevant concepts and requirements into the laws of Ukraine “On the Electricity Market” and “On the National Energy and Utilities Regulatory Commission” aligned with the EU electricity acquis.