Ukraine to establish special court for protection of investors' rights
Ukraine will establish a separate court for the protection of investors' rights, states Decree No. 359, by which President Volodymyr Zelenskyy enacted the decision of the National Security and Defense Council of Ukraine dated June 23, 2023 "On accelerating judicial reform and overcoming manifestations of corruption in the justice system."
- Subscribe to LIGA.net in English on Twitter
The last, fifth, paragraph of the NSDC decision refers to the need to "consider and resolve the issue of establishing a court in Ukraine with competence to protect the rights of investors and investments."
Previously, the Chairman of the Verkhovna Rada, Ruslan Stefanchuk, supported the idea of creating a new court to consider investment disputes.
Foreign partners of Ukraine also favor the idea of creating a new court to protect investments.
At the same time, business ombudsman Roman Vashchuk believes that investors' cases should not be considered in a separate court.
"I think it is unfair when a foreign investor will have a super court, and Ukrainian business will have to get second best. As a spokesperson for Ukrainian business, I can say that 85% of complaints come to us from domestic companies, and only 15% are appeals from companies with foreign investments ", Vashchuk noted in an interview with news agency Ukrinform in March.
On June 21, 2023, almost two dozen international organizations, led by the European Bank for Reconstruction and Development, signed a memorandum on the creation of a platform for joint investments in Ukraine.