Helped to replace LLC's members in accordance with the new law on LLCs in Ukraine

On the 18th of June 2018 our firm was retained by a Client who urgently needed to replace members of an LLC. It is one of our firm's major practices. However, the situation was complicated by an entry into force of a new law of Ukraine "On limited liability and additional liability companies" on the 17th of June 2018.The Client said that right before they learned that after the entry of  the new law into force, the data base of the Unified State Register would  be turned off for two weeks, as state registrars did not have enough understanding of how to work in the new system. The Client also said that they had tried to make changes before the entry of this law into force but they were not able to gather together all the participants at a notary’s office. Therefore, they turned to us, as specialists, in order to get help regarding the implementation of changes taking into account the requirements of the new legislation.

Our lawyers began to study the requirements of the new law, starting from the day of its adoption, but the first practical work is always a test. Therefore, it was very important for us to live up to the Client’s hopes. We took as a basis a charter whose template we had begun to develop in advance. After agreeing with the Client on all the documents that they had to sign, we really ran into the problem of conducting registration actions. To resolve that issue, we phoned up the state registration department of one of the Kyiv City State Administration to find out if the Unified State Register was working and whether they accept documents. We were told that all state registrars were at the meeting, which actually meant documents were not being accepted. Since it was important for the Client to make changes as quickly as possible, we turned to each notary we had worked with before to make such changes. However, all responses were negative. The situation regarding the impossibility of making changes to the registry was totally real.

At the same time, our company has registered changes to documents of legal entities for over 12 years, we have gained not only the necessary knowledge, but also  certain authority and trust in regard to our recommendations. Therefore, in the end, we managed to find a notary and reach an understanding on all outstanding issues and received a consent to register. After signing and notarizing the documents, the notary performed the functions of a state registrar and the very next day the information on the new membership of the Client’s company appeared in the Unified State Register.

After considering this case, the specialists of our law firm were once again convinced that each appeal of the Client required an individual approach to solve it. A quick response to all changes in the law and well-established work with partners are those qualities that help our specialists to carry out their work efficiently and within a short time.

If you are interested in making changes to the constituent documents of your company, taking into account the requirements of the new Law of Ukraine "On Limited and Additional Liability Companies," you can get in touch with our lawyers for more details.

Publication date: 03/07/2018

About author

Name: Marina Losenko

Position: Associate

Education: National Aviation University

Knowledge of languages: Russian, Ukrainian

Email: [email protected]

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