Sayenko Kharenko’s lawyers actively participate in the implementation of the provisions of the Law of Ukraine “On Financial Restructuring”

On 30 March 2017, the Supervisory Board, the agency coordinating financial restructuring procedure, approved the list of arbitrators elected to settle disputes arising in financial restructuring procedures.

Three Sayenko Kharenko’s lawyers were included in the list: partner Nazar Chernyavsky and counsels Anton Korobeynikov and Olexander Droug. All of them were appointed arbitrators for both financial restructuring procedures: general procedure and approval of the restructuring plan.

Sayenko Kharenko’s lawyers actively participated in a joint EBRD – World Bank project on drafting the Law of Ukraine “On Financial Restructuring”. In particular, they adapted the initial draft prepared by the World Bank and EBRD experts to the Ukrainian drafting techniques; finalised the draft as part of the working group and responded to comments from the other members of the working group; explained the content of the Draft Law to the industry participants; supported the draft during its review by the Cabinet of Ministers of Ukraine and the Parliament of Ukraine; participated in the working group of the Parliamentary Committee on Banking and Finance Policy on preparing the final version of the draft adopted by the Parliament and addressed amendments to the draft submitted by the Members of Parliament.

The innovative law “On Financial Restructuring” creates the background for the implementation of new debt restructuring tools for debtors whose business operations appear to be promising.

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