BIICL publishes report to help with the post-conflict economic recovery of Ukraine
'Unlocking Investment in Ukraine' - "an important and valuable contribution to the rule of law and a successful economy in Ukraine."
BIICL Roundtable attended by The Lord Chancellor and Secretary of State for Justice, the Rt Hon. Alex Chalk KC MP and the Ukrainian Minister of Justice, Denys Maliuska.
The British Institute of International and Comparative Law (BIICL) in collaboration with the UK Ministry of Justice (MOJ), has this week published its report 'Unlocking Investment in Ukraine' at a Roundtable event held at its office in London.
The aim of the project is to examine how Ukraine can encourage international commercial investment by creating confidence in its legal system among investors.
The report identifies the advantages and options for, and provides recommendations and best practice on, enhancing dispute resolution mechanisms to encourage, support and protect commercial investment in Ukraine by strengthening dispute resolution options for investors.
The report also includes the results of a survey of international business and judicial stakeholders as well as experts on the challenges facing the Ukrainian legal and judicial system.
Leading political and legal figures from the UK and Ukraine came together at the round table meeting to discuss the findings of the report and its recommendations.
The project is part of the MOJ's initiative to create a dialogue between the Ukrainian and UK justice stakeholders as well as between the two governments, to assist with capacity building for the Ukrainian judiciary in dealing with commercial dispute resolution, and to achieve best international practices on international dispute resolution.
The project recommendations were discussed with an expert group of Ukrainian and UK senior officials, judges, experts and other stakeholders helping to identify possible solutions suitable for implementation in Ukraine.
The project recommendations in the report included a variety of innovative models such as new stand-alone financial courts and/or arbitration centres, employing a variety of tools such as foreign judges and arbitrators, foreign law and language, and digitisation.
Speaking at the roundtable The Lord Chancellor and Secretary of State for Justice, the Rt Hon. Alex Chalk KC MP said
"The Ukrainian justice system has shown marked resilience in the face of unprecedented challenges, but the reality is that any reform will mean grappling with an array of complex issues - issues that might feel insurmountable for a less resilient and determined people.The recommendations set out in the report are a key step towards tackling many of these issues and the UK stands ready to support Ukraine in its efforts, alongside international partners and experts.Support for justice reform is an important part of our efforts - the efforts of Ukraine, with the backing of the international community - to help build a stable, prosperous and secure post-war Ukraine with effective and democratic institutions that will enable sustained economic growth, and an inclusive and resilient society. "
Lord David Neuberger, President of BIICL and former President of the UK Supreme Court said: "Nobody can fail to be impressed by the resilience and commitment of the Ukrainian judiciary generally. They have continued to provide access to justice despite the widespread danger and destruction resulting from the war. provide access to justice despite the widespread danger and destruction resulting from the war.
As a British citizen and former judge, I am proud of the important contributions in the form of expert advice and well targeted funding made by the UK government and judiciary in supporting the Ukrainian judiciary in many areas. The 'Unlocking Investment in Ukraine' report represents an important initiative. It is impressive both in its aim and its analysis. Its aim is to make recommendations as to how the domestic Ukrainian commercial dispute-resolution system can be made as efficient and respected as possible, and hence as friendly as possible to investors and business people - whether from other countries or internally. As to the analysis, it is evidence-based, and carefully considered; the report takes into account the views of judges and potential court-users, and it profits from considering the benefits and problems of models in other jurisdictions. In any view, it is an important and valuable contribution to the rule of law and a successful economy in Ukraine."
Among the senior delegates participating at the Roundtable were:
- The Lord Chancellor and Secretary of State for Justice of the United Kingdom, the Rt Hon Alex Chalk KC MP
- The Rt Hon Mike Freer, Parliamentary Under Secretary of State for the Ministry of Justice
- Lord Neuberger, BIICL President and former President of the UK Supreme
- Denys Maliuska, Minister of Justice of Ukraine
- Roman Waschuk, Business Ombudsman and Former Canadian Ambassador to Ukraine
- Denys Maslov MP, Head of the Parliamentary Committee on Legal Policy of the Verkhovna Rada
- Iryna Mudra, Deputy Head of the Presidential Office, Kyiv
- Sergii Ionushas MP, Head of Law Enforcement Committee of the Verkhovna Rada
Senior UK judges and several judges from the Ukrainian Supreme Court also participated at the Roundtable.
