
Ease of Doing Business in Ukraine
Topics |
DB 2016 Rank |
DB 2015 Rank |
Change in Rank |
Starting a Business |
30 |
70 |
40 |
Dealing with Construction Permits |
140 |
139 |
1 |
Getting Electricity |
137 |
138 |
1 |
Registering Property |
61 |
64 |
3 |
Getting Credit |
19 |
17 |
2 |
Protecting Minority Investors |
88 |
87 |
1 |
Paying Taxes |
107 |
106 |
1 |
Trading Across Borders |
109 |
109 |
No change |
Enforcing Contracts |
98 |
98 |
No change |
Resolving Insolvency |
141 |
141 |
No change |
Topics |
DB 2016 DTF (% points) |
DB 2015 DTF (% points) |
Change in DTF (% points) |
Starting a Business |
93.88 |
87.35 |
6.53 |
Dealing with Construction Permits |
61.36 |
61.34 |
0.02 |
Getting Electricity |
54.84 |
54.57 |
0.27 |
Registering Property |
69.44 |
69.03 |
0.41 |
Getting Credit |
75.00 |
75.00 |
No change |
Protecting Minority Investors |
53.33 |
53.33 |
No change |
Paying Taxes |
70.69 |
70.43 |
0.26 |
Trading Across Borders |
63.72 |
63.81 |
0.09 |
Enforcing Contracts |
57.11 |
57.11 |
No change |
Resolving Insolvency |
31.05 |
31.17 |
0.12 |
Starting a Business |
|||||
DB 2016 RANK |
30 |
DB 2015 RANK |
70 |
CHANGE IN RANK |
40 |
DB 2016 DTF (% POINTS) |
93.88 |
DB 2015 DTF (% POINTS) |
87.35 |
CHANGE IN DTF (% POINTS) |
6.53 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Procedures (number) |
4 |
4.7 |
4.7 |
Time (days) |
7.0 |
10.0 |
8.3 |
Cost (% of income per capita) |
0.6 |
4.8 |
3.2 |
Paidin min. capital (% of income per capita) |
0.0 |
3.8 |
9.6 |
No. Procedure |
Time to Complete |
Associated Costs |
|
1 |
Register at the Registration Office |
3 days |
no charge |
2 |
Prepare a seal |
1 day |
UAH 190250, depending on the complexity of a seal |
3 |
Open a permanent bank account |
1 day |
no charge |
4 |
Register VAT at the State Tax Authority and obtain a VAT number |
2 days |
free of charge |
DB 2016 DTF (% POINTS) |
61.36 |
DB 2015 DTF (% POINTS) |
61.34 |
CHANGE IN DTF (% POINTS) |
0.02 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Procedures (number) |
10 |
15.9 |
12.4 |
Time (days) |
67.0 |
176.3 |
152.1 |
Cost (% of warehouse value) |
15.2 |
4.4 |
1.7 |
Building quality control index (015) |
8.0 |
11.2 |
11.4 |
No. Procedure |
Time to Complete |
Associated Costs |
|
1 |
Request and obtain technical conditions from water and sewage authority |
21 days |
UAH 2,895 |
* 2 |
Request and obtain technical terms and conditions on fire safety from the State Service of Ukraine for Emergency Situations |
19 days |
no charge |
* 3 |
Request and obtain urban planning specifications and requirements for land plot development |
9 days |
no charge |
* 4 |
Pay contribution to the city social and engineeringtransport infrastructure |
1 day |
UAH 181,226 |
* 5 |
Hire a technical supervision firm/engineer |
1 day |
UAH 90,613 |
6 |
Submit declaration of the beginning of construction works |
7 days |
no charge |
7 |
Request and connect to water and sewage services |
4 days |
UAH 700 |
8 |
Prepare and submit declaration of readiness to operate the constructed warehouse to the State Inspection of Architectural and Building Control |
14 days |
no charge |
9 |
Obtain a postal address for the newly constructed building |
14 days |
no charge |
10 |
Register the warehouse with the Registration Service of the Chief Department of Justice in the City of Kyiv |
7 days |
UAH 239 |
DB 2016 DTF (% POINTS) |
54.84 |
DB 2015 DTF (% POINTS) |
54.57 |
CHANGE IN DTF (% POINTS) |
0.27 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Procedures (number) |
5 |
5.7 |
4.8 |
Time (days) |
263.0 |
118.5 |
77.7 |
Cost (% of income per capita) |
795.3 |
440.2 |
65.1 |
Reliability of supply and transparency of tariff index (08) |
5.0 |
4.7 |
7.2 |
No. Procedure |
Time to Complete |
Associated Costs |
|
1 |
Submit application to Kievenergo and await technical conditions |
15 calendar days |
UAH 0 |
2 |
Await project design of external connection by private firm and its approval |
90 calendar days |
UAH 39,950 |
3 |
Await completion of external connection works |
120 calendar days |
UAH 248,324 |
4 |
Conclude supply contract with Kievenergo (Energosbyt) |
20 calendar days |
UAH 0 |
5 Request and receive turnon of power by Kievenergo 18 calendar days
Registering Property |
||||||
DB 2016 RANK |
61 |
DB 2015 RANK |
64 |
CHANGE IN RANK |
3 |
|
DB 2016 DTF (% POINTS) |
69.44 |
DB 2015 DTF (% POINTS) |
69.03 |
CHANGE IN DTF (% POINTS) |
0.41 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Procedures (number) |
7 |
5.4 |
4.7 |
Time (days) |
23.0 |
22.0 |
21.8 |
Cost (% of property value) |
2.0 |
2.6 |
4.2 |
Quality of the land administration index (0 30) |
15.5 |
19.4 |
22.7 |
No. Procedure |
Time to Complete |
Associated Costs |
|
1 |
Assess the price of the land |
10 days |
UAH 1,000 |
2 |
Obtain the extract from the State Center of the Land Cadastre |
10 days |
UAH 68 |
3 |
Notary registers ownership rights for seller in the new State Register of Property Rights to Immovable Property |
Less than a day (online procedure) |
UAH 1500 notary feeUAH 120 for the initial registration of the land in the new registry of ownership rightsUAH 120 for the initial registration of the warehouse |
4 |
Obtain the extract from the State Register of Encumbrances over movable property |
Less than a day (online procedure) |
UAH 34 |
5 |
Check for encumbrances at the State Registry of Property Rights on Immovable Property |
Less than a days (online; simultaneous with procedures 6 & 7) |
UAH 51 for the Seller’s LLCUAH 51 for checking against encumbrances on landUAH 51 for checking against encumbrances on warehouse |
* 6 |
Prepare and notarize the sale agreement (land and building) |
1 day (simultaneous with procedures 5 & 7) |
Notary fee for the land (paid by the buyer): UAH 1,500Notary fee for the warehouse (paid by the buyer): UAH 1,5001% of the value of the land1% of the value of the warehouse1% of the value of the warehouse (NOT THE LAND, only the building) for the pension fund contribution. |
7 Notary registers
Buyer’s ownership rights on the property
Less than a day (online procedure;
Notary fee: UAH 1,500UAH 730.8 administrative fee for the land ownership transfer (adminsbor)UAH 730.8 administrative fee for the warehouse ownership transfer
in the Register of Property Rights
simultaneous with procedures 5 & 6
(adminsbor) UAH 120 (land) registration feeUAH 120 (warehouse) registration fee.
* Takes place simultaneously with another procedure.
Getting Credit |
|||||
DB 2016 RANK |
19 |
DB 2015 RANK |
17 |
CHANGE IN RANK |
2 |
DB 2016 DTF (% POINTS) |
75.00 |
DB 2015 DTF (% POINTS) |
75.00 |
CHANGE IN DTF (% POINTS) |
0.00 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Strength of legal rights index (012) |
8.0 |
6.2 |
6.0 |
Depth of credit information index (08) |
7.0 |
6.3 |
6.5 |
Credit registry coverage (% of adults) |
0.0 |
23.8 |
11.9 |
Credit bureau coverage (% of adults) |
36.7 |
37.4 |
66.7 |
Strength of legal rights index (012)
Does an integrated or unified legal framework for secured transactions that extends to the No creation, publicity and enforcement of functional equivalents to security interests in movable
assets exist in the economy?
Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without requiring a specific description of collateral?
Yes
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a specific description of collateral?
Yes
May a security right extend to future or afteracquired assets, and may it extend automatically to the products, proceeds or replacements of the original assets?
Yes
Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and obligations be secured between parties; and can the collateral agreement include a maximum amount for which the assets are encumbered?
Yes
Is a collateral registry in operation for both incorporated and nonincorporated entities, that is unified geographically and by asset type, with an electronic database indexed by debtor’s name?
Yes
Does a noticebased collateral registry exist in which all functional equivalents can be registered? No
Does a modern collateral registry exist in which registrations, amendments, cancellations and No searches can be performed online by any interested third party?
Are secured creditors paid first (i.e. before tax claims and employee claims) when a debtor defaults outside an insolvency procedure?
Yes
Are secured creditors paid first (i.e. before tax claims and employee claims) when a business is liquidated?
Yes
Are secured creditors subject to an automatic stay on enforcement when a debtor enters a court No supervised reorganization procedure? Does the law protect secured creditors’ rights by providing
clear grounds for relief from the stay and/or sets a time limit for it?
Does the law allow parties to agree on out of court enforcement at the time a security interest is created? Does the law allow the secured creditor to sell the collateral through public auction and private tender, as well as, for the secured creditor to keep the asset in satisfaction of the debt?
Yes
Score (number of “yes” responses) 8.00
Depth of credit information index (08) |
Credit bureau |
Credit registry |
Score |
Are data on both firms and individuals distributed? |
Yes |
No |
1 |
Are both positive and negative credit data distributed? |
Yes |
No |
1 |
Are data from retailers or utility companies in addition to data from banks and financial institutions distributed? |
No |
No |
0 |
Are at least 2 years of historical data distributed? (Credit bureaus and registries that distribute more than 10 years of negative data or erase data on defaults as soon as they are repaid obtain a score of 0 for this component.) |
Yes |
No |
1 |
Are data on loan amounts below 1% of income per capita distributed? |
Yes |
No |
1 |
By law, do borrowers have the right to access their data in the credit bureau or credit registry? |
Yes |
No |
1 |
Can banks and financial institutions access borrowers’ credit information online (for example, through an online platform, a systemtosystem connection or both)? |
Yes |
No |
1 |
Are bureau or registry credit scores offered as a valueadded service to help banks and financial institutions assess the creditworthiness of borrowers? |
Yes |
No |
1 |
Score (“yes” to either public bureau or private registry) 7.00
Coverage |
Credit bureau |
Credit registry |
Number of individuals |
11,600,000 |
0 |
Number of firms |
120,000 |
0 |
Total |
11,720,000 |
0.00 |
Percentage of adult population |
36.70 |
0.00 |
Protecting Minority Investors
DB 2016 RANK |
88 |
DB 2015 RANK |
87 |
CHANGE IN RANK |
1 |
DB 2016 DTF (% POINTS) |
53.33 |
DB 2015 DTF (% POINTS) |
53.33 |
CHANGE IN DTF (% POINTS) |
0.00 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Strength of minority investor protection index (010) |
5.3 |
6.2 |
6.4 |
Extent of conflict of interest regulation index (010) |
4.0 |
6.1 |
6.3 |
Extent of disclosure index (010) |
4.0 |
6.7 |
6.4 |
Extent of director liability index (010) |
2.0 |
4.9 |
5.4 |
Ease of shareholder suits index (010) |
6.0 |
6.7 |
7.2 |
Extent of shareholder governance index (0 10) |
6.7 |
6.3 |
6.4 |
Extent of shareholder rights index (010) |
7.0 |
7.2 |
7.3 |
Extent of ownership and control index (010) |
4.0 |
5.5 |
5.6 |
Extent of corporate transparency index (0 10)
9.0 6.1 6.4
Answer |
Score |
|
Extent of conflict of interest regulation index (010) |
4.0 |
|
Extent of disclosure index (010) |
4.0 |
|
Which corporate body can provide legally sufficient approval for the BuyerSeller transaction? (03) |
Shareholders or board of directors including interested parties |
1.0 |
Is disclosure by the interested director to the board of directors required? (02) |
Full disclosure of all material facts |
2.0 |
Is disclosure of the transaction in published periodic filings (annual reports) required? (02) |
Disclosure on the transaction only |
1.0 |
Is immediate disclosure of the transaction to the public and/or shareholders required? (02) |
No disclosure obligation |
0.0 |
Must an external body review the terms of the transaction before it takes place? (01) |
No |
0.0 |
Extent of director liability index (010) |
2.0 |
|
Can shareholders sue directly or derivatively for the damage caused by the BuyerSeller transaction to the company? (01) |
Yes |
1.0 |
Can shareholders hold the interested director liable for the |
Not liable |
0.0 |
damage caused by the transaction to the company? (02) |
||
Can shareholders hold members of the approving body liable for the damage cause by the transaction to the company? (02) |
Liable if negligent |
1.0 |
Must the interested director pay damages for the harm caused to the company upon a successful claim by a shareholder plaintiff? (01) |
No |
0.0 |
Must the interested director repay profits made from the transaction upon a successful claim by a shareholder plaintiff? (01) |
No |
0.0 |
Is the interested director fined and imprisoned or disqualified upon a successful claim by the shareholder plaintiff? (01) |
No |
0.0 |
Can a court void the transaction upon a successful claim by a shareholder plaintiff? (02) |
Only in case of fraud or bad faith |
0.0 |
Ease of shareholder suits index (010) |
6.0 |
|
Before filing suit, can shareholders owning 10% of the company’s share capital inspect the transaction documents? (0 1) |
No |
0.0 |
Can the plaintiff obtain any documents from the defendant and witnesses during trial? (03) |
No |
3.0 |
Can the plaintiff request categories of documents from the defendant without identifying specific ones? (01) |
No |
0.0 |
Can the plaintiff directly question the defendant and witnesses during trial? (02) |
Yes |
2.0 |
Is the level of proof required for civil suits lower than that of criminal cases? (01) |
No |
0.0 |
Can shareholder plaintiffs recover their legal expenses from the company? (02) |
Yes if successful |
1.0 |
Extent of shareholder governance index (010) |
6.7 |
|
Extent of shareholder rights index (010) |
7.0 |
|
Does the sale of 51% of Buyer’s assets require shareholder approval? |
Yes |
1.0 |
Can shareholders representing 10% of Buyer’s share capital call for an extraordinary meeting of shareholders? |
Yes |
1.0 |
Must Buyer obtain its shareholders’ approval every time it issues new shares? |
Yes |
1.0 |
Do shareholders automatically receive preemption rights every time Buyer issues new shares? |
No |
0.0 |
Must shareholders approve the election and dismissal of the external auditor? |
No |
0.0 |
Must changes to the voting rights of a class of shares be approved only by the holders of the affected shares? |
Yes |
1.0 |
Assuming that Buyer is a limited company, does the sale of 51% of Buyer’s assets requires shareholder approval? |
No |
0.0 |
Assuming that Buyer is a limited company, can shareholders representing 10% of Buyer’s share capital call for an extraordinary meeting of shareholders? |
Yes |
1.0 |
Assuming that Buyer is a limited company, must Buyer obtain its shareholders’ approval every time it issues new shares? |
Yes |
1.0 |
Assuming that Buyer is a limited company, do shareholders automatically receive preemption rights every time Buyer issues new shares? |
Yes |
1.0 |
Extent of ownership and control index (010) |
4.0 |
|
Is the CEO prohibited from also being chair of the board of directors? |
Yes |
1.0 |
Must the board of directors include independent and nonexecutive board members? |
No |
0.0 |
Can shareholders remove members of Buyer’s board of directors without cause before the end of their term? |
Yes |
1.0 |
Must Buyer’s board of directors include a separate audit committee? |
No |
0.0 |
Must a potential acquirer make a tender offer to all shareholders upon acquiring 50% of Buyer? |
No |
0.0 |
Must Buyer pay dividends within a maximum period set by law after the declaration date? |
Yes |
1.0 |
Is a subsidiary prohibited from acquiring shares issued by its parent company? |
No |
0.0 |
Assuming that Buyer is a limited company, can shareholders remove members of Buyer’s board of directors without cause before the end of their term? |
Yes |
1.0 |
Assuming that Buyer is a limited company, must a potential acquirer make a tender offer to all shareholders upon acquiring 50% of Buyer? |
No |
0.0 |
Assuming that Buyer is a limited company, must Buyer pay dividends within a maximum period set by law after the declaration date? |
No |
0.0 |
Extent of corporate transparency index (010) |
9.0 |
|
Must Buyer disclose direct and indirect beneficial ownership stakes representing 5%? |
Yes |
1.0 |
Must Buyer disclose information about board members’ other directorships as well as basic information on their primary employment? |
Yes |
1.0 |
Must Buyer disclose the compensation of individual managers? |
Yes |
1.0 |
Must a detailed notice of general meeting be sent 30 days before the meeting? |
Yes |
1.0 |
Can shareholders representing 5% of Buyer’s share capital put items on the agenda for the general meeting? |
Yes |
1.0 |
Must Buyer’s annual financial statements be audited by an external auditor? |
Yes |
1.0 |
Must Buyer disclose its audit reports to the public? |
Yes |
1.0 |
Assuming that Buyer is a limited company, must a detailed notice of general meeting be sent 30 days before the meeting? |
Yes |
1.0 |
Assuming that Buyer is a limited company, can shareholders representing 5% of Buyer’s share capital put items on the agenda for the general meeting? |
Yes |
1.0 |
Assuming that Buyer is a limited company, must Buyer’s annual financial statements be audited by an external auditor? |
No |
0.0 |
Paying Taxes |
|||||
DB 2016 RANK |
107 |
DB 2015 RANK |
106 |
CHANGE IN RANK |
1 |
DB 2016 DTF (% POINTS) |
70.69 |
DB 2015 DTF (% POINTS) |
70.43 |
CHANGE IN DTF (% POINTS) |
0.26 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Payments (number per year) |
5.0 |
19.2 |
11.1 |
Time (hours per year) |
350.0 |
232.7 |
176.6 |
Total tax rate (% of profit) |
52.2 |
34.8 |
41.2 |
Profit tax (% of profit) |
9.0 |
10.8 |
14.9 |
Labor tax and contributions (% of profit) |
43.1 |
20.4 |
24.1 |
Other taxes (% of profit) |
0.1 |
3.1 |
1.7 |
Tax or mandatory contribution |
Payments (number) |
Notes on Payments |
Time (hours) |
Statutory tax rate |
Tax base |
Total tax rate (% of profit) |
Notes on TTR |
Unified Social Contribution |
1 |
online |
100 |
38.19% |
gross salaries |
43.08 |
|
Corporate income tax |
1 |
online |
100 |
18% |
taxable profit |
9.03 |
|
Land tax |
1 |
online |
various rates |
land area and value |
0.07 |
||
Environmental taxes |
1 |
online |
various rates |
ton of waste |
0.01 |
||
Employee paid Social security contributions |
0 |
online and jointly |
3.6% |
gross salaries |
0.00 |
withheld |
|
Military contribution |
0 |
online and jointly |
1.5% |
personal income |
0.00 |
withheld |
|
Value added tax (VAT) |
1 |
online |
150 |
20% |
value added |
0.00 |
not included |
Totals: |
5.00 |
350.00 |
52.2 |
Trading Across Borders |
||||
DB 2016 RANK 109 |
DB 2015 RANK |
109 |
CHANGE IN RANK |
0 |
DB 2016 DTF (% 63.72 POINTS) |
DB 2015 DTF (% POINTS) |
63.81 |
CHANGE IN DTF (% POINTS) |
0.09 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Time to export: Border compliance (hours) |
26 |
28 |
15 |
Cost to export: Border compliance (USD) |
75 |
219 |
160 |
Time to export: Documentary compliance (hours) |
96 |
31 |
5 |
Cost to export: Documentary compliance (USD) |
292 |
144 |
36 |
Time to import: Border compliance (hours) |
52 |
23 |
9 |
Cost to import: Border compliance (USD) |
100 |
202 |
123 |
Time to import: Documentary compliance (hours) |
168 |
27 |
4 |
Cost to import: Documentary compliance (USD) |
292 |
108 |
25 |
Characteristics |
Export |
Import |
Product |
HS 72: Iron and steel |
HS 8708: Parts and accessories of motor vehicles |
Trade partner |
Russian Federation |
Russian Federation |
Border |
Sumy Oblast border crossing |
Sumy Oblast border crossing |
Distance (km) |
335 |
335 |
Domestic transport time (hours) |
5 |
5 |
Domestic transport cost (USD) |
300 |
300 |
Domestic transport speed (km/hour) |
67.0 |
67.0 |
Domestic transport cost per distance (USD/km) |
0.9 |
0.9 |
Export documents
Import documents
Act of loading Certificate of origin Certificate of quality
Compliance certificate on auto parts (Specification of the product)
Contract (salepurchase)
CMR waybill Commercial invoice Contract VED
Export declaration with bank stamp Packing list
Radiology certificate
Sanitary and Epidemiological clearance Technical conditions
Import declaration Packing list
Preliminary import declaration Specification of the product Transit document (T1)
Verification from the State Service of Export Control of Ukraine on the autoparts
Enforcing Contracts |
|||||
DB 2016 RANK |
98 |
DB 2015 RANK |
98 |
CHANGE IN RANK |
0 |
DB 2016 DTF (% POINTS) |
57.11 |
DB 2015 DTF (% POINTS) |
57.11 |
CHANGE IN DTF (% POINTS) |
0.00 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Time (days) |
378.0 |
480.7 |
538.3 |
Cost (% of claim) |
46.3 |
26.2 |
21.1 |
Quality of judicial processes index (018)
8.0 10.5 11.0
Indicator
Time (days) 378
Filing and service |
48.0 |
Trial and judgment |
150.0 |
Enforcement of judgment |
180.0 |
Cost (% of claim) |
46.3 |
Attorney fees |
25.0 |
Court fees |
9.9 |
Enforcement fees |
11.4 |
Quality of judicial processes index (018) |
8 |
Court structure and proceedings (05) |
3.5 |
Case management (06) |
2.0 |
Court automation (04) |
1.0 |
Alternative dispute resolution (03) |
1.5 |
Answer |
Score |
|
Quality of judicial processes index (018) |
8.0 |
|
Court structure and proceedings (05) |
3.5 |
|
1. Is there a court or division of a court dedicated solely to hearing commercial cases? |
Yes |
1.5 |
2. Small claims court |
0.0 |
|
2.a. Is there a small claims court or a fasttrack procedure for small claims? |
No |
|
2.b. If yes, is selfrepresentation allowed? |
n.a. |
|
3. Is pretrial attachment available? |
Yes |
1.0 |
4. Are new cases assigned randomly to judges? |
Yes |
1 |
Case management (06) 2.0
1. Time standards |
1.0 |
|
1.a. Are there laws setting overall time standards for key court events in a civil case? |
Yes |
|
1.b. If yes, are the time standards set for at least three court events? |
Yes |
|
1.c. Are these time standards respected in more than 50% of cases? |
Yes |
|
2. Adjournments |
0.0 |
|
2.a. Does the law regulate the maximum number of adjournments that can be granted? |
No |
|
2.b. Are adjournments limited to unforeseen and exceptional circumstances? |
No |
|
2.c. If rules on adjournments exist, are they respected in more than 50% of cases? |
n.a. |
|
3. Can two of the following four reports be generated about the competent court: (i) time to disposition report; (ii) clearance rate report; (iii) age of pending cases report; and (iv) single case progress report? |
Yes |
1.0 |
4. Is a pretrial conference among the case management techniques used before the competent court? |
No |
0.0 |
5. Are there any electronic case management tools in place within the competent court for use by judges? |
No |
0.0 |
6. Are there any electronic case management tools in place within the competent court for use by lawyers? |
No |
0.0 |
Court automation (04) |
1.0 |
|
1. Can the initial complaint be filed electronically through a dedicated platform within the competent court? |
No |
0.0 |
2. Is it possible to carry out service of process electronically for claims filed before the competent court? |
No |
0.0 |
3. Can court fees be paid electronically within the competent court? |
No |
0.0 |
4. Publication of judgments |
1.0 |
|
4.a Are judgments rendered in commercial cases at all levels made available to the general public through publication in official gazettes, in newspapers or on the internet or court website? |
Yes |
|
4.b. Are judgments rendered in commercial cases at the appellate and supreme court level made available to the general public through publication in official gazettes, in newspapers or on the internet or court website? |
Yes |
|
Alternative dispute resolution (03) |
1.5 |
|
1. Arbitration |
1.0 |
|
1.a. Is domestic commercial arbitration governed by a consolidated law or consolidated chapter or section of the applicable code of civil procedure encompassing substantially all its aspects? |
Yes |
|
1.b. Are there any commercial disputes—aside from those that deal with public order or public policy—that cannot be submitted to arbitration? |
Yes |
|
1.c. Are valid arbitration clauses or agreements usually enforced by the courts? |
Yes |
|
2. Mediation/Conciliation |
0.5 |
|
2.a. Is voluntary mediation or conciliation available? |
Yes |
|
2.b. Are mediation, conciliation or both governed by a consolidated law or consolidated chapter or section of the applicable code of civil procedure encompassing substantially all their aspects? |
No |
|
2.c. Are there financial incentives for parties to attempt mediation or conciliation No (i.e., if mediation or conciliation is successful, a refund of court filing fees, income tax credits or the like)? |
Resolving Insolvency |
|||||
DB 2016 RANK |
141 |
DB 2015 RANK |
141 |
CHANGE IN RANK |
0 |
DB 2016 DTF (% POINTS) |
31.05 |
DB 2015 DTF (% POINTS) |
31.17 |
CHANGE IN DTF (% POINTS) |
0.12 |
Indicator |
Ukraine |
Europe & Central Asia |
OECD high income |
Recovery rate (cents on the dollar) |
8.3 |
38.3 |
72.3 |
Time (years) |
2.9 |
2.3 |
1.7 |
Cost (% of estate) |
42.0 |
13.2 |
9.0 |
Outcome (0 as piecemeal sale and 1 as going concern) |
0 |
0 |
1 |
Strength of insolvency framework index (016) |
8.5 |
9.7 |
12.1 |
Commencement of proceedings index (03) |
3.0 |
2.4 |
2.8 |
Management of debtor’s assets index (06) |
4.0 |
3.9 |
5.3 |
Reorganization proceedings index (03) |
0.5 |
1.7 |
1.7 |
Creditor participation index (04)
1.0 1.7 2.2
Answer |
Score |
|
Strength of insolvency framework index (016) |
8.5 |
|
Commencement of proceedings index (03) |
3.0 |
|
What procedures are available to a DEBTOR when commencing insolvency proceedings? |
(a) Debtor may file for both liquidation and reorganization |
1.0 |
Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? |
(a) Yes, a creditor may file for both liquidation and reorganization |
1.0 |
What basis for commencement of the insolvency proceedings is allowed under the insolvency framework? |
(a) Debtor is generally unable to pay its debts as they mature |
1.0 |
Management of debtor’s assets index (06) |
4.0 |
|
Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the debtor? |
Yes |
1.0 |
Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts? |
Yes |
1.0 |
Does the insolvency framework allow avoidance of preferential transactions? |
Yes |
1.0 |
Does the insolvency framework allow avoidance of undervalued transactions? |
Yes |
1.0 |
Does the insolvency framework provide for the possibility of the debtor obtaining credit after commencement of insolvency proceedings? |
No |
0.0 |
Does the insolvency framework assign priority to post commencement credit? |
(c) No priority is assigned to post commencement creditors |
0.0 |
Reorganization proceedings index (03) |
0.5 |
|
Which creditors vote on the proposed reorganization plan? |
(c) Other, please specify |
0.5 |
Does the insolvency framework require that dissenting creditors in reorganization receive at least as much as what they would obtain in a liquidation? |
No |
0.0 |
Are the creditors divided into classes for the purposes of voting on the reorganization plan, does each class vote separately and are creditors in the same class treated equally? |
No |
0.0 |
Creditor participation index (04) |
1.0 |
|
Does the insolvency framework require approval by the creditors for selection or appointment of the insolvency representative? |
No |
0.0 |
Does the insolvency framework require approval by the creditors for sale of substantial assets of the debtor? |
No |
0.0 |
Does the insolvency framework provide that a creditor has the right to request information from the insolvency representative? |
No |
0.0 |
Does the insolvency framework provide that a creditor has the right to object to decisions accepting or rejecting creditors’ claims? |
Yes |
1.0 |
The original article can be found at:Doingbusiness
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