#03 March 2010

In focus – Restructuring

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

Expert Opinion

Debt Restructuring: Key Issues

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

In Re

INSOLVENCY CLARIFICATIONS OF SUPREME COURT: Considerations during Restructuring

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

DEBT-TO-EQUITY CONVERSATION: New Opportunities for Restructuring of Joint Stock Companies in Ukraine

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

How To

Selling Non-Performing Loans How to Structure the Deal

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

Argument

Standstill Agreements: Ukrainian Aspects

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

Hot Issue

Every Path has its Puddle, or New Anti-Corruption Legislation in Ukraine

Nataliya Y. Mykolska, Anzhela M. Makhiova

Corruption is known as the Achilles heel of the Ukraines economy. Transparency International defined Ukraine as ranking in last place among newly independent countries in accordance with the Global Corruption Barometer 2009 annual review

Local Issue

Mixed Mergers in Ukraine: to Be or Not to Be

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

Venue

Protection of International Business. Risks Assessments

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

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