On 28 February 2022, the Chamber of Commerce and Industry of Ukraine ("Chamber") issued a letter #2024 / 02.0-7.1 in order to simplify the regular procedure for certifying force majeure. The Chamber confirmed to "anyone concerned" that the military aggression of the Russian Federation against Ukraine is a force majeure starting from 24 February 2022 and until the official end of martial law in Ukraine.
During this webinar we discussed several legal issues important to those engaged in any kind of contractual relations in view of the recognition of Russian military aggression as force majeure.
In particular, we discussed:
1. General Observations Regarding Force Majeure
- What is the effect of force majeure?
- Does the letter #2024 / 02.0-7.1 issued by the Chamber of Commerce and Industry of Ukraine provide for an automatic release from liability?
2. Force Majeure and Contractual Obligations
- Ukrainian law agreement silent in relation to force majeure
- Foreign law agreement silent in relation to force majeure
- Ukrainian law or foreign law agreement governing force majeure
3. Force Majeure and Monetary Obligations
- Does force majeure justify failure to pay?
- What are the martial law legislative incentives concerning monetary obligations?
- What are the incentives provided by the lenders?
4. Force Majeure and Dispute Resolution
- In case of the dispute resolution in Ukrainian courts, does a statute of limitations applicable to contractual violations continues to run during the martial law?
Speakers:
Olha Horodniuk, Associate at EVERLEGAL. Olha focuses on Corporate and M&A and Commercial matters. She is one of the key lawyers in a Corporate and M&A team at EVERLEGAL. Olha has a wide experience advising large developers of renewable energy projects in Ukraine & Europe, leading global producers of PV modules, investment companies focusing on renewable energy sector, a major Ukrainian investment group, the first Ukrainian innovation park, a French water and waste management and treatment company, and others. Olha is also a coach of Kyiv-Mohyla academy team participating in Willem C. Vis International Commercial Arbitration Moot.
Yuliia Sharabar, Junior Associate at EVERLEGAL. Yuliia focuses on Corporate and M&A, Commercial and Employment matters. Yuliia has experience advising large IT companies on employment, corporate and other matters regarding their day-to-day activities, as well as legal assistance to public and charitable organisations activities, advising them on various matters, including in relation to drafting statutory documents, introducing amendments thereto, and reorganisation of governing bodies.
