Search in blog

Monday, April 23, 2007

Illegal Corporate Raiders

I decide to post it because there are a lot request and opinion on Ukrainian legislative system and corporate relations. This is extremely important for investors in RE, and other ones at all.

Now, Illegal Corporate Raiders are broadly presented in corporate conflicts. So, I thought you have to read and know this. I'm appreciate to American Chambers of Commerce in Ukraine and its President Jorge Zukoski personally.

Recently, under the auspices of the Chamber, a Working Group has been active in analyzing the issues surrounding the activities of illegal corporate raiders and proposing recommendations to addresses these impediments to current and future investment. The Working Group is comprised of representatives of Ukrainian and foreign companies specializing in legal and consulting services as well as specialists in the sphere of corporate governance.

The current deliverable developed by the Chamber Working Group is a White Paper entitled "Illegal Corporate Raiders". The document contains information that highlights issues and remedies which require the joint efforts of Ukrainian executive and legislative authorities, both the foreign and domestic investment community, representatives of the judiciary, as well as experts and scientist who are engaged in the sphere of economic and corporate governance reform. The recommendations put forth are directed to the prompt and effective implementation of a transparent system of property rights protection governed by the rule of law in Ukraine.

The Chamber anticipates that the White Paper will provide another tool to stimulate a discussion and provide a catalyst to positively influence much needed change. The Chamber's Policy Team and the Chamber Working Group on Illegal Corporate Raiders stands committed to working with our partners among the Membership, in the Ukrainian government as well as the diplomatic and donor community to advocate for much needed changes in this sphere.
As we continue forward with the advocacy plan on this issue we are pleased to offer an opportunity to our Members to submit to our offices all relevant data, figures and explanations relating to your company's experience on the issue of Illegal Corporate Raiders.

The Chamber would like to thank our professional colleagues who provided invaluable assistance in developing this White Paper and who are genuinely concerned about the negative impact of illegal corporate raiders on the business community and international reputation of Ukraine. The Chamber Member companies actively involved include but are not limited to (in alphabetical order): Baker & McKenzie, Bunge Ukraine, Grischenko & Partners, Magister & Partners, USAID - Commercial Law Center. The Chamber thanks them for their proactive involvement and invaluable contribution to the document.

We would also like to express our appreciation to all Members of the Chamber's Legal Committee (Mr. Oleksandr Martynenko, Baker & McKenzie, Co-Chair), the Chamber Board of Directors Policy Committee (Mr. James Hitch, Baker & McKenzie; Mr. Jacques Mounier, Calyon Bank Ukraine; Mr. Myron Wasylyk, The PBN Company; Mr. Sergiy Yanchyshyn, Motorola) as well as to all Members of the Chamber's Illegal Raider Attacks Working Group for their contribution, involvement and support.