Business news from Ukraine

Business news from Ukraine

Judge Kravchenko was elected chairman of Supreme Court

The plenum of the Supreme Court on Friday elected Stanislav Kravchenko, chairman of the Cassation Criminal Court within the Supreme Court, as chairman of the Supreme Court.
Kravchenko received the most votes among the four candidates for head of court: 108 Supreme Court justices out of 148 present at Friday’s plenum voted for him.
Judges Albert Ezerov, Natalia Kovalenko and Ivana Mischenko collected 2, 13 and 14 votes, respectively.
At the same time, according to the press service of the Supreme Court, the agenda of the plenum also included consideration of the issue of electing a deputy chairman of the Supreme Court.
“The issue of electing a deputy chairman of the Supreme Court will be considered after appropriate consultations with the judges of the Supreme Court at the next meeting of the plenum (the date is not specified – IF-U),” the message says.
Kravchenko has been chairman of the criminal court at the Supreme Court since December 2017. He graduated from the Ukrainian Law Academy named after F. E. Dzerzhinsky in 1991. F.E. Dzerzhinsky with a degree in jurisprudence (now the National Law University named after Yaroslav the Wise). In 1991-1992 he worked as a lawyer and notary.
During 1992-1993 he worked as a trainee-judge of the People’s Court of the Republic of Belarus. – In 1992-1993 he worked as a trainee-judge of the People’s Court of Kozeletsky District People’s Court of Chernigov Region. From 1993 to 2002, he was a judge of the Kozeletsk District Court in Chernihiv region. From 2002 to 2011, he served as a judge of the Court of Appeal in Kyiv. – From 2002-2011, she was a judge of the Kiev Court of Appeal.
Kravchenko was elected a judge of the High Specialized Court of Ukraine for Civil and Criminal Cases on May 19, 2011. On April 23, 2014, he was appointed deputy chairman of this court.
By presidential decree of November 10, 2017, he was appointed a judge of the Court of Cassation Criminal Court within the Supreme Court, and on December 8, he headed this court. On November 26, 2021, Kravchenko was re-elected as head of the Court of Criminal Cassation.
He has been a member of the Law Reform Commission since August 7, 2019.

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Ukraine needs another $6.5 bln for recovery needs

Ukraine’s unfunded needs for financing priority reconstruction this year amount to about $6.5 billion more, with a total estimate of $14.1 billion, Finance Minister Sergei Marchenko said in panel discussions at a meeting of the IMF and World Bank member countries in Montenegro.
“Timely attraction of these funds is crucial for creating proper living conditions for people, returning migrants and promoting economic growth in Ukraine,” the minister said in a Finance Ministry press release on Friday.
According to him, the state budget-2023 provides $3.3 billion for priority reconstruction, and international partners have provided guarantees of about $4.3 billion.
Marchenko recalled that the needs of the energy sector for priority reconstruction are estimated at $3.3 billion, humanitarian demining at $400 million, reconstruction of destroyed and damaged housing at $1.9 billion, critical and social infrastructure at $5.8 billion, as well as $2.8 billion needed to support the private sector.
It is noted that during the discussions the state of the economy in the countries receiving migrants and refugees was discussed, and the head of the Ministry of Finance thanked the governments of the receiving countries for their assistance and protection.
According to him, the factor of Ukrainian migrants has a positive impact on the economies of receiving countries, as Ukrainians spend money and actively integrate into the European labor market.
At the same time, Marchenko noted the priority of the Ukrainian government to create incentives for citizens to return home, and in this context it is important to rebuild the country.
The minister also informed that the governments of Ukraine and Great Britain are closely cooperating on the organization of a conference on the reconstruction of Ukraine, which will be held in late June in London:
“We plan to present reconstruction projects, as well as to discuss mechanisms of insurance against military risks. I am confident that the conference will consolidate international partners and donors and will facilitate their involvement in Ukraine’s reconstruction,” the Finance Minister said.

“Dobrobut” in Pechersk will expand area by more than 2 times

Dobrobut” medical network subdivision in Pecherskiy district of Kiev will more than double its area.
As reported in the nurse’s press release, the area of new premises will be over 1 thou. sq. m., whereas the old building had an area of 450 sq. m.
Along with the expansion of the area the clinic, designed for 300 visitors a day, plans to expand the list of services. In particular, physicians specialized in therapy and family medicine, pediatrics, ophthalmology, allergology, infectious diseases, surgery and proctology, orthopedics and traumatology, gastroenterology, dietetics, obstetrics and gynecology, dermatology, dermatology, endocrinology, rheumatology, pulmonology, hematology, psychology, psychiatry, medical massage and kinesiotherapy will be invited.
The new medical center will be equipped with modern high-precision diagnostic equipment.
The company does not specify the amount of investment in the new medical center’s equipment.
Dobrobut” is one of Ukraine’s largest private medical networks. The network consists of 17 medical centers in Kiev and Kiev region, emergency service, dentistry and pharmacies. Network medical centers provide services to children and adults in more than 75 medical directions. Annually experts of “Dobrobut” carry out more than 7000 operations. The network has over 2800 employees.
The network collaborates with a number of international charitable organizations such as Direct Relief International, Children of War Foundation, International Medical Corps and University of Miami Global Institute. According to the company, thanks to the work of Direct Relief International and the Dobrobut Foundation, wounded war veterans and people stranded by war are able to receive free care at the Dobrobut Treatment and Diagnostic Center.
According to the company, Dobrobut has become the first private medical network in Ukraine to receive funding from the U.S. federal government: with support from the U.S. International Development Finance Corporation (DFC), the company will build a modern physical rehabilitation center.

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NABU searches apartment of UFuture founder Khmelnytskyy – updated version

The National anti-corruption bureau of Ukraine (NABU) conducted a search in the apartment of the founder of the holding UFuture Vasily Khmelnitsky, the businessman himself said in the social network “Facebook”.
“Already in the office found out that I have “guests” from the NABU at home. Days of exemplary searches after nights of rocket attacks for Ukrainian businessmen have become a tradition. Unfortunately. This visit of law enforcement agencies to me concerns a case that has been under investigation for more than four years, and all these years I am in Kyiv, I am not hiding from anyone, and investigative experiments and interrogations have already been conducted more than once,” Khmelnitsky wrote.
The businessman specified that the case concerns a plot of land, which he and his partner bought at an open auction for the construction of a new modern school. Paid the full price (18.9 million UAH), received the rights of the owner.
“For us, 100% (it – IF) is a social project, not a business. It is access to quality school education that paves the way for real transformations and reforms in Ukraine in the long term. In the short term – Kiev through private investment gets the necessary infrastructure for the comfortable life of citizens, and the inhabitants of the residential complex – an additional advantage, “- wrote Khmelnitsky.
At the same time, the businessman stressed that the legality of the purchase of the land plot at the auction and the conclusion of the sale agreement is confirmed by the court.
“But the NABU believes that the price is too low”, – added Khmelnitsky.
According to him, in accordance with the urban planning documentation at this address can not be placed commercial or residential real estate – this explains the price of the contract.
As clarified to the agency “Interfax-Ukraine” in the press service of Khmelnitsky, in July 2018 state enterprise “MIA “Inform-Resources” held an open auction for the sale of real estate belonging to him at Kiev, Military passage, 8. The sale price was determined by an independent appraiser engaged by the seller and agreed by the State Property Fund of Ukraine. The plot was purchased by the company from the group – “Persestroy” LLC – for the construction of the second building of the innovative educational project of Novopechersk school.
“The legality of the purchase and the contract of sale was confirmed by the court. Yes, the tax service tried to invalidate the contract of sale, but the Commercial Court of Kyiv dismissed the claim. The decision was upheld by the court of appeal and is still in force. The Supreme Court refused to open proceedings on the tax appeal. NABU participated in the trial as a third party on the side of the plaintiff,” the press service of Khmelnytskyy reported.
It added that to implement the project of expanding the school, in addition to the acquisition of real estate, resources have already been spent on the development of several business models, the creation of a separate project team. Additionally hired teachers and methodologists, conducted an audit of the school, developed pre-project documentation.
“In addition, the management has taken steps to obtain a loan from the Black Sea Trade and Development Bank,” the press service noted.
The company added that information became known from open sources that the funds paid by Persevstroy LLC for the real estate had been embezzled, but the bona fide buyer had nothing to do with these actions.
As Khmelnitsky notes, it is necessary to stop the mass practice of “mask show” and intimidation of business in conditions of war. “All remaining entrepreneurs in the country, believe me, are 100% patriotic and ready for a civilized dialogue. In the last few months alone I have heard about dozens of such cases with show off searches of respected businessmen. Both the Ukrainian society and foreign investors are observing this negative trend. There is a sincere hope that the authorities are listening to the voice of business because it is only possible to defeat the external enemy and develop Ukraine’s economy by joining forces,” he believes.
Khmelnitsky assured that he is not going anywhere and is ready to answer all questions.

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Ukrainian Defense Minister tested Bogun all-terrain vehicle

“Recently I “tested” the Ukrainian tank “Oplot”, which we plan to order for our troops. Today we are talking about Ukrainian all-terrain vehicle “Bogun”. I am delighted! (…),” Reznikov wrote on Facebook on Friday.
The head of the Ministry of Defense said that two such all-terrain vehicles are already fighting in different units.
“For example, specially for paratroopers, assault troops made “Bogun” type “convertible”, where they removed the cabin as such, instead equipping seats for personnel, making it a troop car,” – said Reznikov.
The minister said that other units are currently testing vehicles and installing various types of weapons for use in military operations.
“There is even a version of a medical wrecker. Moreover, there are already applications from individual commanders,” Reznikov wrote.
He also stressed that quality weapons and equipment are important to keep people alive and healthy.
“Our partners help us and will be with us until victory. But the development of the national MIC (military-industrial complex – IF-U) is one of the priorities for us,” the minister said.
“It’s not just about today. We are fighting for independence, for our freedom, which, especially with such a neighbor, is impossible without a strong defense capability. And the independence of the military-industrial complex, in fact, is one of the factors of the defense capability of the country. We continue working on it in the future,” concluded Reznikov.

AMCU allows Vodafone Ukraine to acquire stake in authorized capital of Freinet LLC

The Antimonopoly Committee (AMCU) allowed mobile operator “Vodafone Ukraine” to acquire a stake in the share capital of LLC “Freinet”, the document was issued on Thursday, according to the AMCU website.
“On May 25, 2023, the Antimonopoly Committee made a decision allowing VF Ukraine PJSC to acquire a stake in the authorized capital of Frinet LLC, which provides the buyer with control over the said facility,” the AMCU said in a statement.
It is noted that the concentration occurs in the provision of fixed Internet access services in Ukraine. At the same time, it is specified that members of the concentration provide fixed Internet access services in Ukraine both to individuals and legal entities within the boundaries of many settlements in Ukraine.
AMCU noted that the share of the buyer’s group on the respective regional markets is insignificant. Thus, as a result of concentration the aggregate share of participants in the regional markets of fixed Internet access services to individuals and legal entities within the respective geographical boundaries will not exceed 15-21%. That is, the claimed concentration will not lead to monopolization or significant limitation of competition in the commodity markets of Ukraine, said the AMCU, justifying the issuance of the permit.
Freinet” company provides high-speed Internet services in Kiev, where the customer base of provider has more than 160 thousand active subscribers. In addition to the capital region the company operates in the Kiev region and nine other regions, including Dnipropetrovsk, Zhitomir, Ivano-Frankovsk and Lvov regions.
The Vodafone Ukraine group includes the National Telecom Operator Vega, which offers integrated solutions in fixed telephony, broadband Internet access and data transmission. The company is present in 22 regions of Ukraine. It provides Internet services by GPON technology in Kiev, Odessa, Dnepr, Lviv, Kharkiv. Operational management of Vega telecommunications group is implemented by PJSC “Farlep-Invest”.
As reported, “Vodafone Ukraine” in 2022 reduced net income by 2% – to 19.8 billion UAH, with a net profit of 1.1 billion UAH.
At the end of 2019, NEQSOL Holding through OOO Telco Solutions and Investments, controlled by Bakcell closed the deal to purchase its telecommunications business in Ukraine from MTS PJSC with financing from J.P. Morgan and RBI. The price amounted to $734 million.
NEQSOL Holding has more than 25 years of experience in various industries and countries. Its operations cover oil and gas, telecommunications, construction and other high-tech areas in the UK, USA, Turkey, Azerbaijan, Kazakhstan, UAE and the Netherlands. The Group entered the telecommunications industry in the early 2000s. Its member companies provide mobile communication services, international transit and wholesale Internet sales, leased line services, data center services, etc.
Businessman Nasib Hasanov is the official founder and 100% owner of NEQSOL Holding, including Nobel Oil Services (UK) Limited, Nobel Oil E&P (UK) Limited (trade name Nobel Upstream), Bakcell LLC and Norm OJSC.

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