Law on out-of-court financial restructuring comes into force in Ukraine
October 2016 - On 19 October 2016, the Law of Ukraine “On Financial Restructuring” dated 14 June 2016 came into force. The new law introduces a framework for the out-of-court restructuring of liabilities of Ukrainian debtors other than banks or other financial institutions. Although now effective, the law has yet to become fully operational, as the specialised body vested with administrative duties in relation to the law and some other related infrastructure are pending establishment by the Government.
The attached article highlights the key aspects of the restructuring process that the new law introduces.
For more information, please contact Andriy Nikiforov, Counsel, at .