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GAAP.RUNewsUkraine prohibits private-public settlement of accounts with promissory notes

Ukraine prohibits private-public settlement of accounts with promissory notes

Publication date: 5 March 2010

It looks like promissory note schemes (the “second birth” for which was given by the financial crisis) will soon be no more as the Ukraine’s government plans to liquidate them: the Verkhovna Rada has approved a new law (¹ 3041) in its first reading, which will introduce significant amendments to rules that regulate promissory notes turnover. It is very possible that the law will be approved further (in its second and final readings) and will officially come into force.  

It looks like promissory note schemes (the “second birth” for which was given by the financial crisis) will soon be no more as the Ukraine’s government plans to liquidate them: the Verkhovna Rada has approved a new law (¹ 3041) in its first reading, which will introduce significant amendments to rules that regulate promissory notes turnover.