How to hold Ukrainian capital from running abroad

On 8 November 2011 upon initiative of Ilyashev & Partners a roundtable discussion "How to hold the Ukrainian capital from running abroad: settlement of partnership relations in Ukrainian and foreign law. Opportunities and threats for business" took place in the conference hall of Hyatt Regency Hotel.

The leading firms of Ukraine, Cyprus, as well as the representatives of the public sector delivered reports at the event. They organized a substantive discussion on the specifics of Ukrainian and international law, its impact on the partnership relations in Ukraine and abroad, choice of jurisdiction during M&A transactions and others.

"Our experience in the settlement of partnership relations between owners of the Ukrainian companies suggests that Ukrainian legislation does not meet the modern requirements of Ukrainian businessmen. Despite some progress in improving the legal system over the last 10 years, legislation still requires significant revision in this field and lags much behind the developed countries", said Mikhail Ilyashev, the managing partner of Ilyashev & Partners. He emphasized that Ukrainian corporate law is currently mandatory in many ways and does not correspond to the actual relations between parties. As a result, the owners of Ukrainian companies who are dissatisfied with some "rules of the game" established by Ukrainian legislation are concerned with finding a way out. Most often one of the solutions is maintaining relationships outside Ukraine. The expert believes that the round table is the most efficient framework for finding solutions and developing optimal models of regulation of corporate relations in Ukraine.