(EBA)<\/em>, Raiffeisen Bank and Visa.\u00a0\u00a0\u00a0<\/p>\nMarina Riashchenko highlighted the types of damages caused by Russia\u2019s armed aggression which must be compensated by the aggressor state, by providing practical recommendations for the business sector on steps for recording and collecting respective evidence, its assessment and potential compensation mechanisms. Marina noted that strategies for recovering damages caused by Russia\u2019s armed aggression may differ and should be considered for each specific case. Individuals and legal entities that have suffered damages can choose the approach that will be the most cost-effective and applicable for them.\u00a0<\/p>\n
While commenting on the specifics of court proceedings on claims for war damages, Marina spoke about the potential risks and difficulties that the business may face. These risks and difficulties include claim dismissal, reduction of stated claims, recognition and enforcement of Ukrainian court judgments in foreign jurisdictions.<\/p>\n
\u201cCompensation by the state for damage caused to legal entities as a result of Russia\u2019s armed aggression is not currently established by law in Ukraine. Only 8% of private companies received financial assistance from the State,”<\/em> Marina Riashchenko said. \u201cAn approachable way to recover damages from Russia is to bring a claim before a competent Ukrainian court and enforce <\/em>its decision <\/em>abroad<\/em>. <\/em>To begin with, you need to select your own strategy, decide on a foreign jurisdiction, locate Russian assets in a specific country, and seek legal advice from local lawyers. Recognizing and enforcing these decisions, however, has certain nuances. At the stage of preparing a claim, all procedural steps must be followed. The proper notification of the defendant, i.e. the aggressor state, as well as the proper and fair assessment of damages are of particular importance.”<\/em><\/p>\nOver 130 entrepreneurs and SME ONLINE Hub<\/em> members attended the webinar.\u00a0<\/p>\nSME Hub<\/em> is an intensive educational program allowing small and medium-sized business owners to acquire the necessary knowledge and practical skills to successfully do their business in Ukraine and abroad from professional business practitioners of large corporations.<\/span><\/p>\n<\/p>","protected":false},"excerpt":{"rendered":"
On 12 September 2024, Marina Riashchenko, Counsel at Ilyashev & Partners Law Firm, delivered a webinar entitled \u201cRecovering Business Damages Caused by Russia’s War Against Ukraine: Practical Recommendations\u201d. The event was organised by SME ONLINE Hub, an educational platform for entrepreneurs, created within the framework of the Unlimit Ukraine project\u00a0of the European Business Association (EBA), […]<\/p>\n","protected":false},"author":4489,"featured_media":583296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[24,23],"tags":[],"yoast_head":"\n
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