The Verkhovna Rada has adopted the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding the Peculiarities of the Financial Sector in Connection with the Introduction of Martial Law in Ukraine"

Recently, the Verkhovna Rada has adopted the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding the Peculiarities of the Financial Sector in Connection with the Introduction of Martial Law in Ukraine" (draft law No. 7465-1 of June 24, 2022), which, in particular, until January 1, 2028 the term of validity of the Law "On Financial Restructuring" was extended.

MORIS considers this step a quick response to the challenges facing the financial sector today, and emphasizes the importance of the financial restructuring mechanism for the country's economy as a whole.

Currently, for banks and businesses, the issue of loan repayment is more acute than ever. The MORIS team has experience in conducting successful financial restructurings in accordance with the Law "On Financial Restructuring". From our own experience, we can say that this mechanism has a number of unique features, is a real tool for business recovery and preservation of the banking system.

As of today, the Law has been submitted to the President for signature. We hope that the signing process will take place in the near future, and that soon we will once again be able to prove in practice the effectiveness of financial restructuring procedures in accordance with the Law on Financial Restructuring.