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A project for the Export Credit Agency of Ukraine counseled by Asters is shortlisted for the CEE Legal Matters 2023 Deal of the Year

Asters' project for the Ukrainian Export Credit Agency on establishing a first-of-its-kind war risk insurance mechanism has been shortlisted for the CEE Legal Matters 2023 Deal of the Year for Ukraine. The mechanism provides shipowners and vessel charterers with cover for the transport of goods through the Black Sea and supports the agreed reimbursement of underwriters in the event of payment of claims.

Asters acted as Ukrainian law counsel for the Ukrainian Export Credit Agency and provided comprehensive legal advice on Ukrainian law issues during the negotiation and drafting of transaction documents. The Brodies LLP team provided comprehensive advice to the Export Credit Agency of Ukraine on English law issues, while Norton Rose Fulbright LLP acted as legal counsel for Marsh Limited (arranger).

Asters' Senior Partner Armen Khachaturyan comments: "It feels good that for the two consecutive years Asters' projects have been shortlisted for a CEEL Award. In 2022 it was USD 895 mln Eurobond restructuring for Ukrainian Railways, which helped the national railway operator to eliminate the consequences of Russian aggression. This year, it is an innovative from commercial and legal standpoints project for the Ukrainian Export Credit Agency insuring war risks. We are honored to be involved in such important deals helping Ukraine to overcome the challenges of war and supporting the economy at such a difficult time".

CEE Deals of the Year Awards recognize the largest and the most important deals in Central and Eastern Europe since 2017. The winners will be selected by a Final Selection Committee and announced at the annual CEE Deals of the Year Banquet on 25 April 2024.

Asters is the largest full-service law firm in Ukraine with offices in Kyiv, Brussels, London, and Washington, D.C., and access to over 125 jurisdictions through a well-developed network of partner law firms.

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