ІІ Annual Corporate Law Forum
04/11/2008
On October 31, 2008, the Ukrainian Bar Association conducted the Second Annual Corporate Law Forum in HYATT Regency hotel, Kyiv. This year the main purpose of the gathering was to discuss the New Joint Stock Company Law signed by the president of Ukraine on October 22 and officially made public on October 29.
Until recently, the main special legislative act that regulated joint stock companies’ activity in Ukraine was Ukrainian law “On business” adopted in 1991. No wonder that when the Ukrainian parliament passed the New Joint Stock Company Law 17 year later it made a landmark decision for both lawyers practicing corporate law and for pretty much anyone who has anything to do with organizing a business in Ukraine. In whole experts agree that this law is bound to have a positive effect the investment climate in the country. In particular, the main achievement of this legislative act is believed to be the adoption of a number of provisions designed to protect the rights of minority shareholders, the improvement of joint stock companies’ corporate management structure and the elimination of loopholes and clashes in the existing legislature.
ІІ Annual Corporate Law Forum participants were mainly practicing lawyers of leading law firms, counselors, judges, scientists, state representatives, representatives of professional and international organizations, as well as professional and business mass-media representatives. Event attendees had a chance to discuss potential business opportunities opened by the new law and general perspectives of Ukrainian legislation development in accordance with the European Union legislative trends in this particular sphere.
Vasil Kisil & Partners’ Managing Partner Oleg Makarov moderated a session on “Mergers and Acquisitions: the civilized way” during which firm’s Partner Denis Lysenko, Head of Corporate/M&A Practice made a presentation on the importance of Vendor Due Diligence in the process of getting a company ready for sale. When introducing the topic Mr. Lysenko observed the following: “According to the latest trends of the Ukrainian M&A market a more efficient structuring of an M&A transaction and how it is going to be carried out are much dependent on the preparation work conducted by the seller before the beginning of negotiations with a buyer or an investor. Vendor Due Diligence is the main instrument to be used during this phase.”
The forum was also attended by Vasil Kisil & Partners Corporate Department associates Anna Babych and Sergei Savchuk and litigators Andriy Stelmashchuk and Alexei Sluch.
Until recently, the main special legislative act that regulated joint stock companies’ activity in Ukraine was Ukrainian law “On business” adopted in 1991. No wonder that when the Ukrainian parliament passed the New Joint Stock Company Law 17 year later it made a landmark decision for both lawyers practicing corporate law and for pretty much anyone who has anything to do with organizing a business in Ukraine. In whole experts agree that this law is bound to have a positive effect the investment climate in the country. In particular, the main achievement of this legislative act is believed to be the adoption of a number of provisions designed to protect the rights of minority shareholders, the improvement of joint stock companies’ corporate management structure and the elimination of loopholes and clashes in the existing legislature.
ІІ Annual Corporate Law Forum participants were mainly practicing lawyers of leading law firms, counselors, judges, scientists, state representatives, representatives of professional and international organizations, as well as professional and business mass-media representatives. Event attendees had a chance to discuss potential business opportunities opened by the new law and general perspectives of Ukrainian legislation development in accordance with the European Union legislative trends in this particular sphere.
Vasil Kisil & Partners’ Managing Partner Oleg Makarov moderated a session on “Mergers and Acquisitions: the civilized way” during which firm’s Partner Denis Lysenko, Head of Corporate/M&A Practice made a presentation on the importance of Vendor Due Diligence in the process of getting a company ready for sale. When introducing the topic Mr. Lysenko observed the following: “According to the latest trends of the Ukrainian M&A market a more efficient structuring of an M&A transaction and how it is going to be carried out are much dependent on the preparation work conducted by the seller before the beginning of negotiations with a buyer or an investor. Vendor Due Diligence is the main instrument to be used during this phase.”
The forum was also attended by Vasil Kisil & Partners Corporate Department associates Anna Babych and Sergei Savchuk and litigators Andriy Stelmashchuk and Alexei Sluch.