Sayenko Kharenko advised the EBRD on the development of a draft law introducing the concepts of bondholder meeting and “collective representative” (trustee) in the Ukrainian Securities Market Law (officially known as the Law of Ukraine “On Securities and the Stock Market” No. 3480-IV). The draft law was introduced to the Parliament on 5 September 2016 under registration No. 5068.
The key goals of the draft law are to encourage the greater use of the local debt capital markets in Ukraine, enhance access to information and control by bondholders, and address the risk of holdouts. The concept of the law was developed by Hogan Lovells, one of the leading multinational law firms, and was subsequently developed into a draft law by a dedicated team of lawyers of Sayenko Kharenko.