On 17 October 2020, Ukraine enacted changes to the Code on Bankruptcy Procedures in order to protect businesses from the negative financial impact of COVID-19.

These changes provide businesses with additional time to recover from financial difficulties and protection from immediate legal action by creditors.

Upon passage of the amendments, creditors are prohibited from opening court proceedings for claims (matured after 12 March 2020) on the bankruptcy of legal entities and individual entrepreneurs.

Summertime is arguably the best time of the year. Warm weather. Long-awaited family vacations. Extended daylight. And unique to this summer, as of July 1, 2013, in most states, we have substantial amendments (the 2010 Amendments) to the Uniform Commercial Code (UCC) to digest (maybe even under an umbrella on the beach). The 2010 Amendments are intended to clarify existing law, especially with respect to how certain types of debtors are named in financing statements. As of July 3, 2013, 44 states and the District of Columbia had enacted the 2010 Amendments.