On April 5, SCHNEIDER GROUP organized our regular Quarterly Focus event on the topic of «Important changes for Limited Liability Companies». The event was devoted to discussion of new law on limited liability and additional liability companies, novelties in corporate governance, new regulations on “net assets” issue, dividends payout and debt-to-equity swap procedure etc. It was held by Artem Barinov (Head of Tax & Legal Department) and Maksim Satsyuk (Legal Expert, SCHNEIDER GROUP).
Artem Barinov analyzed the legal background and sufficient innovations related to charter of company, capital, shares, participants, company management. He explained new rules for the charter capital contributions, told about the features of general meeting of participants and presented novelties in company management. Maksim Satsyuk on his end provided a legislation review for the shareholders agreements as a new instrument of corporate governance for Ukraine, outlined key implications to be considered initially with regards to such clauses as company financing, corporate decisions approval, in particular for those concerned with the share deals, maintenance of the management controls. Provided a case study on the options for deadlock reconciliation.
Representatives of many international companies took part in the event, for which this topic was interesting and acute because the experts outlined the most important changes made to the new law “On Limited Liability and Additional Liability Companies”. This law was signed by the President of Ukraine on March 12, 2018. The importance of this law is hardly to overestimate, as it provides completely new regulations of practically all areas of activities of Limited Liability Companies which remain to be the most common form of doing business in Ukraine.