Business news from Ukraine

Business news from Ukraine

343 Ukrainians filed for bankruptcy in first 5 months of 2024 according to Supreme Court

The number of bankrupts since the beginning of the year

343 Ukrainians filed for bankruptcy in the first 5 months of 2024, according to the Supreme Court. This is 2.2 times more than last year. In total, almost 2,000 bankruptcy cases have been opened in Ukraine over the past 5 years.

Since the beginning of the year, 343 Ukrainians have filed for insolvency. The number of bankruptcy cases increased by 2.2 times compared to the same period last year. By the way, 575 people received this status last year.

The fewest bankruptcy cases were opened in 2019. It was the first year when the law allowed citizens to declare themselves insolvent in court. Back then, 22 bankruptcy cases were opened. Since then, the number of people who wanted to declare themselves insolvent has been steadily increasing: 8.3 times in 2020 and 2.7 times in 2021.

“In my opinion, court statistics do not reflect the real number of debtors in difficulty who could benefit from bankruptcy proceedings. However, this procedure is not well-known and widespread among Ukrainians, and there are several reasons for this: it is expensive, complicated and incomprehensible without the help of a lawyer, for whom the debtor may simply not have the funds. In addition, creditors and financial institutions are not very willing to file their claims in such court cases, hoping to collect the debt after the person’s solvency is restored and save on legal fees, or vice versa, trying to torpedo the procedure by discrediting the debtor. On the other hand, citizens also need to realize that this procedure is not about writing off debts, but about trying to find an agreement with creditors through the court procedure and the insolvency officer,” comments Denys Likhopiok, attorney at law, insolvency officer, member of the Qualification Commission of Insolvency Officers, bankruptcy specialist.

In total, 1,993 bankruptcy cases have been opened against Ukrainians. Every second bankrupt is between the ages of 25 and 45: 58% or more than 1.1 thousand. A third of bankrupts are over 45 years old – 38.3% or 764 people. The lowest number of bankrupts is among young people under 25 – only 3.7%.

The gender distribution was almost equal. 54% of all bankrupts are men, and 46% are women.

Context.

The Verkhovna Rada allowed individuals to become bankrupt in October 2018. The procedure became fully operational in 2019. Since then, a person in a difficult financial situation can initiate bankruptcy and, after going through the entire procedure, get rid of debts.

https://opendatabot.ua/analytics/people-bankrupts-2024

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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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SUPREME COURT OF ISRAEL LIFTS RESTRICTION ON ENTRY OF CITIZENS OF UKRAINE INTO COUNTRY

The Supreme Court of Justice of Israel (High Court of Justice) by its decision canceled the order of the Minister of Internal Affairs of the country, Ayelet Shaked, to deprive Ukrainian citizens of the right to visa-free entry to Israel, which was introduced after the outbreak of a full-scale war in Ukraine, NEWSru.co.il reports. Sunday.
“According to the decision of the High Court of Justice, citizens of Ukraine will be able to enter Israel for three months without the need to submit a special request for this. This practice was introduced by the decision of the head of the Ministry of Internal Affairs after the start of the war in Ukraine,” the report says.
It clarifies that the court also ordered the defendant (the State of Israel) to pay legal costs in the amount of 20,000 shekels.
As reported, Tomer Varsh’s law office in Israel filed a petition with the High Court against the decision of Israeli Interior Minister Ayelet Shaked to limit the number of Ukrainian refugees in Israel to 5,000. The Embassy of Ukraine expressed support for the petition.
The plaintiffs demanded that the Israeli authorities adhere to interstate agreements on visa-free entry to Israel for citizens of Ukraine. The High Court of Justice at a meeting on March 21, given that the term of the “scheme” for accepting Ukrainian refugees, proposed by the Minister of Internal Affairs Ayelet Shaked, expires on March 27, and the Committee on Internal Affairs must discuss this issue on March 23, took the following decision: The defendants must submit an application for decision within 24 hours after it is made, but no later than March 28.
The embassy statement indicates that the court recognized the existence of legal decisions regarding the consideration of the issue of entry of Ukrainian citizens to Israel. The statement also said that “Interior Minister Shaked and the Knesset Home Affairs Committee will ‘rethink’ the current entry policy and allow the entry of Ukrainian citizens ‘without any preconditions’.”

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SUPREME COURT CONFIRMS UAH 431 MLN FINE IMPOSED ON LARGEST CIGARETTE DISTRIBUTOR TEDIS

The Supreme Court of Ukraine has confirmed the necessity of paying a UAH 431 million fine by the largest cigarette distributor Tedis Ukraine (earlier Megapolis-Ukraine) imposed by the Antimonopoly Committee of Ukraine, Committee Head Yuriy Terentiev has said.
“The Supreme Court has decided in favor of the Antimonopoly Committee in a long lawsuit concerning Tedis, the distributor of cigarettes. The decision of the committee dated December 16, 2016 was retained with the exception of a little clarification regarding the way of fulfilling the obligation to establish a transparent pricing mechanism,” he wrote on his Facebook page on Tuesday.
As reported, the committee at the end of 2016 imposed a fine of UAH 431 million on Tedis Ukraine for abuse of the monopoly position on the market, but the company appealed against this decision in court.

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