Regulatory Affairs

06/ 10/ 2016

On 5th October 2016 came into effect the Laws of Ukraine “On enforcement proceeding” #1404-VIII and “On authorities and individuals to carry out compulsory enforcement of judicial decision and other authorities’ decision” #1403-VIII, which were adopted on 2nd June 2016 (the ‘Laws’).

Key amendment is functioning of private executive services equally with the State executive service of Ukraine. Also the Laws prescribe automation of judicial decisions enforcement procedures, forming and maintenance of the debtors’ register as well as the forms and control procedures for private executors’ activity.

The EBA member companies for a long time appealed and gave concrete proposals on the necessity for introduction of private executors’ institute to ensure effective execution of judicial and other authorities` decision.

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