On September 15, 2010 CLC and the Ukrainian National Mortgage Association co-hosted a conference “Improving Investment Climate in Ukraine through Better Enforcement of Contracts”. Among the conference topics for discussion were: the current status and reform strategy in the area of contract enforcement and fulfillment of obligations; opportunities opened up by amended procedural legislation; fulfillment of obligations in bankruptcy proceedings; invalidity of contracts, etc.

Mr. Glib Krivenko, USAID representative, Ms. Valentyna Danishevska, CLC Director, Ms. Alina Panchenko, Deputy Minister of Justice, Mr. Igor Yushko, Head of the Steering Committee of the Ukrainian National Mortgage Association and Mr. Mykola Onishchuk, President of the Institute for Legal Policy, delivered opening speeches at the conference.

Of particular interest was the speech delivered by Mr. Oleksandr Paskhaver, CED President, who spoke about the grounds for non-fulfillment of contracts from the economist’s point of view. He has stressed that massive non-fulfillment of contracts in the business environment is some kind of a social disease, caused by undeveloped market relations, weak regulatory mechanisms and numerous corruption schemes. High corruption level is a threat to the reforms; it deforms business relations. Sound investment climate is based on reliability of contracts as a fundamental rule. Thus, we believe that an anticorruption project is needed to cause positive changes.

Ms. Olena Belyanevych, Professor at the Kyiv National Taras Shevchenko University, analyzed the effectiveness of court system in resolving commercial disputes in view of the procedural law reform. Mr. Igor Myroniuk, Deputy Director of the State Enforcement Service Department of the Ministry of Justice, spoke about the state policy in the sphere of enforcement of court decisions.

Mr. Mykola Onischuk spoke about enforcement of court decisions by the state enforcement service and prospects for introducing the private enforcement service (bailiffs). This topic caused active discussion among the conference participants.

Among the other topics discussed at the conference were the following: fulfillment of contracts during bankruptcy proceedings, protection of the creditor’s, debtor’s and acquirer’s interests through fair auction procedures, role of credit bureaus in adequate fulfillment of obligations, etc.

Ms. Valentyna Danishevska closed the event by thanking the audience for participation and called for further cooperation.

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