Kharkiv Legal issues
Ukrainian legal framework on LLC and ALC became obsolete. Recently the President of Ukraine has signed the Corporate Agreements Law, so that businessmen will be able to reach a consensus regarding company management and funds disposition. The LLC Law is the next on the agenda. Anton Zinchuk, the ILF Associate Partner and specialist on bargain & business restructuring, told about the moments, which will change the enterprises’ operation.
Renewed legislation opens a prospect for corporate agreements making (the parties are LLC/ALC members only; written form). ‘The companies will get an instrument voting procedure and management elections prescription’, expert said. ‘For instance, the parties can come to an agreement that the Director candidature is to be offered by the major shareholder’.
The speaker also let the attendees into details concerning LLC&ALC Law: it doesn’t restrict the amount of LLC participants, stipulates the possibility of supervisory board creation (which will considerably increase LLC attractiveness in the eyes of foreign investors), and also struggles against ‘deadheads’ among Ukrainian companies.
The participants got an opportunity to talk to the speaker over the coffee, receive valuable pieces of advice and answers for private questions.