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Partner Arzinger gave recommendations on how to address problems when concluding and executing settlement agreements
ARZINGER LAW FIRM,
Kyiv, Ukraine, April 2, 2013
During the Legal Practice Days within the Judicial Forum “Justice in Ukraine: Realities and Prospects” organized jointly with the Supreme Court of Ukraine, Markian Malskyy, partner, Head of Arzinger’s West Ukrainian Branch, attorney-at-law, Ph.D., spoke about the problems of conclusion and execution of settlement agreements in commercial court proceedings in Ukraine.” The event was attended by leading legal experts, who shared their experience with the forum delegates.
In his report, Mr. Malskyy specified the most common and pressing problems of conclusion and execution of settlement agreements in commercial court proceedings in Ukraine, such as the impossibility to approve settlement agreements in the appellate and cassation instances, the lack of clear regulation of protection procedure for the parties’ rights in the case of default on settlement terms and conditions; impossibility to appeal the rulings of commercial courts approving settlement agreements concluded by the parties in the course of enforcement; impossibility to approve settlement agreements at the stage of preparatory hearings in bankruptcy proceedings under the old wording of the Law of Ukraine “On Restoring a debtor’s solvency or declaring it bankrupt.”
When highlighting causes of the above problems and their consequences, Arzinger’s partner drew conclusions about the possible solutions and suggested the ways to reduce their negative impact.