News date: 9 November 2011
On November 8, 2011, from 11 a.m. to 2 p.m upon initiative of Ilyashev & Partners a roundtable discussion “How to hold the Ukrainian capital from running abroad: settlement of partnership relations in Ukrainian and foreign law. Opportunities and threats for business” took place in the conference hall of Hyatt Regency Hotel.
The leading firms of Ukraine, Cyprus, as well as the representatives of the public sector delivered presentations at the event. A substantive discussion was held on the specifics of Ukrainian and international law, its impact on the partnership relations in Ukraine and abroad, choice of jurisdiction during M&A transactions and others.
“Extensive experience of Ilyashev & Partners in the settlement of partnership relations between owners of the Ukrainian companies suggests that the Ukrainian legislation does not meet the modern requirements of the Ukrainian businessmen. Despite some progress in improving the legal system over the last 10 years, the legislation still requires significant revision in this field and lags much behind the developed countries”, says Mikhail Ilyashev, Managing Partner of Ilyashev & Partners Law Firm.
According to Mr. Ilyashev, currently Ukrainian corporate law is mandatory in many ways and does not correspond to the actual relations between the parties. “As a result, owners of the Ukrainian companies, who are dissatisfied with some “rules of the game” established by the Ukrainian legislation are concerned with finding the way out. Most often, one of the solutions is maintaining relationships outside Ukraine”, says Mr. Ilyashev. The expert believes that the round table is the most efficient framework for finding solutions and developing optimal models of regulation of corporate relations in Ukraine.
“Support of the event by the law firm with extensive experience in transaction support is the key to its success. We understand that position of the company, which masters the rules of both Ukrainian and foreign law and is ready to provide practice-based expertise, it is very important for the Ukrainian market”, emphasizes Yuriy Ivanyshyn, Director of FinPR.