July 2013

New in Court Practice

A notable conclusion has been made by the High Commercial Court of Ukraine (the HCCU) upon consideration of the case on recovery of debt under the financial leasing agreement. The HCCU resolved that the courts of lower instances should have considered the fact of plaintiff's rights violation not only at the time when the lawsuit was brought, but also at the time of the judgment delivery. The court may not deny defence of civil rights and interests based only on formal grounds as it contradicts Article 15 of the Civil Code of Ukraine, which guarantees everyone the right to his/her civil right defence in case of its violation (Order in case No. 7/22/2012/5003 of 7 August 2013).

The Supreme Court of Ukraine has made a statement of legal position upon reviewing the case on nullification of sale and purchase agreement of equity interest in the authorized capital of the company. According to the latter, after monetary funds are contributed to authorized capital of a commercial entity, these funds become property of such entity. From that moment on, such funds lose their features of an object of couple's joint property. Hence, subsequent disposition of equity interest (corporate rights) by company's participant, e.g. its alienation by the spouse, who is a company's participant at his/her own discretion are not to be regarded as disposition/use of the joint property of the couple against the will of other spouse and/or contrary to the interests of the family (Ruling in case No. 6-61φρ-13 of 3 July 2013).

For further information please contact
senior associate Andriy Pozhidayev and associate Anna Kozhemyachenko

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