At last, a legislative light has appeared at the end of the long dark tunnel of Ukraine's financial sector.
Adopted on 14 June 2016 and published on 19 June 2016, Ukraine's new law "On Financial Restructuring" No. 1414-VII (the "Financial Restructuring Law") is effective for a period of only three years from 19 October 2016 until 19 October 2019.
На прошлой неделе Верховная рада приняла за основу законопроект №3555, которым внедряется специальная процедура добровольной финансовой реструктуризации корпоративных должников.
Last week Verkhovna Rada approved, in principle, the Draft Law No. 3555 which introduces special procedure of voluntary financial restructuring of corporate debtors.
Минулого тижня Верховна рада прийняла за основу законопроект №3555, яким запроваджується спеціальна процедура добровільної фінансової реструктуризації корпоративних боржників.
Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Baker & McKenzie Renaissance Business Center 24 Bulvarno-Kudriavska (Vorovskoho) St.
14 червня 2016 р. було прийнято новий закон «Про фінансову реструктуризацію» (Закон), який повинен розв’язати багато протиріч та допомогти в проведенні реструктуризації боргів в Україні.
Закон запроваджує нову процедуру реструктуризації фінансової заборгованості українських боржників-юридичних осіб (Реструктуризація).
Особливості нової процедури Реструктуризації:
On 14 June 2016 the Verkhovna Rada of Ukraine adopted the Law “On Financial Restructuring” (the Law), which aims to solve many conflicts and assist in debt restructurings in Ukraine.
The Law provides a new procedure for restructuring financial debt of Ukrainian corporate debtors (the Restructuring).
Special features of new Restructuring procedure include:
On 19 January 2013, a new edition of the Law of Ukraine "On rehabilitation of debtor or its bankruptcy" (the “Bankruptcy Law”) came into force. The Bankruptcy Law provides for the possibility of a pre-bankruptcy rehabilitation of a debtor which may be introduced by the court on the debtor’s or the creditor’s request. During the pre-bankruptcy rehabilitation of the debtor bankruptcy proceedings cannot be commenced in court, and the court may establish a moratorium on the satisfaction of the creditors’ claims.
On 18 January 2013 the Law of Ukraine on Introducing Changes to the Law on Restoring Debtor Solvency or Declaring Bankruptcy (the “New Bankruptcy Law”) became effective. The new Bankruptcy Law introduces a number of important changes to the bankruptcy procedure in Ukraine.