The first calls for restructuring were made at the end of December 2008, when the economy faced devaluation of the hryvnya. The multi-million loans taken in previous years cannot be returned in a timely manner. Hence, in the past year we have seen loud restructuring in both public and private sectors…
Victoria L. Kaplan, Kateryna S. Chechulina
Restructuring… In the last year and a half this word has ceased to be something frightening for both debtors and creditors. Prior to the financial crisis banks in Ukraine could only imagine what “financial insolvency” (at least, on such a scale) and “debt restructuring” meant and only some banks had previously had to face the problem of non-performing loans…
Andrii L. Grebonkin
As anyone who has looked at insolvency laws in Ukraine will know, current laws are not always clearly drafted or consistently applied by the lower courts…
Oleksandr I. Vygovskyy
The world financial crisis is seriously affecting the Ukrainian economy and has become an “endurance test” for the majority of Ukrainian companies in various sectors of the national economy. Outstanding corporate debts are rising menacingly and many companies, unable to service their debt burden, appeared next door to bankruptcy…
Tatiana I. Zamorska
This article gives an overview of certain key legal issues arising for Ukrainian banks that are contemplating the sale of non-performing loans. While such transactions are not yet widespread among Ukrainian banks, their number increased in 2009, and there are signs that this growing trend will be observed in 2010…
Nikolay S. Zhovner
If a company finds itself in financial difficulties, those difficulties may result in the company being unable to meet its payment obligations and/or result in a breach of financial covenants in banking facilities…
Nataliya Y. Mykolska, Anzhela M. Makhiova
Corruption is known as the Achilles heel of the Ukraine’s economy. Transparency International defined Ukraine as ranking in last place among “newly independent countries” in accordance with the Global Corruption Barometer 2009 annual review…
Inna M. Kostrytska, Illya O. Tkachuck
A merger is one of the most common forms of reorganization of companies, when one or several companies cease to exist and their rights and liabilities are transferred to another company. In cases when companies with different legal forms (e.g., limited liability companies, joint stock companies, partnerships etc.) take part in one merger, such a merger is called a “mixed merger”…
Nataliya V. Koloskova
The training seminar Security of your international business: new rules, new solutions. Assets and information protection in international tax, property and financial planning, organised by Bosco Conference in unison with Taurus Group Limited was held on 18 February at the Radisson SAS Hotel in Kiev…