Draft Law of Ukraine

"On Amendment of Some Laws of Ukraine"

Pursuant to this draft amendments are made to a series of current laws of Ukraine: "On Pledge", "On Execution Procedures", "On Restoring Debtor’s Solvency or Recognizing Him Bankrupt", "On the Procedure for Payment of Taxpayers’ Liabilities to the Budgets and State Special-Purpose Funds".

These amendments relate to the peculiarities of bankruptcy procedure and charge on property of:

• state-owned enterprise;
• enterprises where state owns more than 25 percent stake of the authorized fund;
• enterprises of strategic importance for the economy and national security;
• enterprises with especially dangerous production conditions;
• subject of natural monopoly.

If this draft is passed and signed by the President, commercial courts will apply its regulations during consideration of bankruptcy cases, irrespectively of the date of acceptance of applications on initiating proceedings. It should be mentioned that according to this draft the Law of Ukraine "On Introduction of Moratorium on Forced Sale of Property" should be recognized as invalid.