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Presentation of LCF Law Group report on current status of squeeze-out procedure in Ukraine hosted by USUBC
LCF Law Group, Kyiv, Ukraine,
Mon, Sep 17, 2018
LCF Law Group is a member of U.S.-Ukraine Business Council (USUBC)
On September 14 U.S.-Ukraine Business Council hosted a round table discussion “Implementation of squeeze-out procedure and relevant judicial practice” organized in cooperation with LCF Law Group, USUBC member.
The discussion focused on presentation of LCF report on current status of squeeze-out procedure in Ukraine. Amendments to the Law “On Amending Some Legislative Acts of Ukraine on Increasing the Level of Corporate Governance" as of March 23, 2017 introduced a procedure of squeeze-out – a compulsory sale of the shares of minority shareholders without their prior consent on demand and in favor of the dominant shareholder.
The discussion was moderated by Yulia Atamanova, the Counsel, Attorney, LCF Law Group. Speakers included Michael Datsenko, Director of Information and Member Programs, U.S.-Ukraine Business Council, Dmytro Tarabakin, Commissioner, National Securities and Stock Market Commission of Ukraine, Tetyana Vasylchenko, Judge, Kyiv City Commercial Court, Maria Demydova, Judge, Commercial court of Chernihiv Oblast, Volodymyr Lavrynovych, Lawyer, Attorney, LCF Law Group, and Iryna Kobets, Lawyer, Attorney, LCF Law Group.
Event’s agenda covers most significant and problematic issues of the squeeze-out procedure implementation in Ukraine, in particular its legislative framework with regard to the balance of the shareholders' interests and overview of Ukrainian and international court practice. In focus were: preconditions for implementing squeeze-out procedure in Ukraine; the procedure of squeeze-out; the role of the court in ensuring the balance of shareholders' interests; ways of protecting the rights of shareholders during squeeze-out procedure; the the constitutional dilemma of squeeze-out and private ownership.
The event was attended by USUBC members and colleagues of the National Bank of Ukraine, National Securities and Stock Market Commission of Ukraine and representatives of joint-stock companies such as Alfa-Bank, DTEK, Cub Energy, Fozzy Group, Bunge and others.