The panellists today noted the increased use of the safe harbour for directors as a protection against insolvent trading risk in the current economic environment. Its potential use as a tool in a business overhaul by concerned companies, and not merely insolvent ones, was also noted. Its use in the following contexts was noted: a tool to allow a company to consider strategies for long-term profitability rather than just to fix immediate cashflow issues;to use…

Serhiy Chrony (Managing Partner, Kyiv) and Paul Melling (founding partner, former Moscow office) both of Baker McKenzie, and Daniel Thoniley (President, DT Global Business Consulting) spoke about issues in banking and finance and restructuring in Ukraine and Russia since the escalation of hostilities in February 2022. Serhiy and Paul reflected on their personal experiences in those respective countries since February, but also of the sense of optimism in Ukraine. State-owned Ukrainian banks have not been…