On June 19, 2020, the leader of real estate and construction practice of Salkom Law Firm Tymofii Sykorskiy took part in the first meeting of the Temporary Special Commission of the Verkhovna Rada on Protection of Investors' Rights.
During the meeting, which took place in the format of a round table in the Kyiv International Convention Center “Parkovy” legislative initiatives on Combating Raiding in Ukraine were discussed.
In particular, the proposals of the “Business Varta” Public Organization and the Ukrainian Institute of the Future on strengthening the responsibility for crimes in the field of economic activity, changes to legislation of counteraction to raiding, developed by the Ministry of Justice of Ukraine and proposals of Notary community and American Chamber of Commerce in Ukraine were discussed.
The Temporary Special Commission of the Verkhovna Rada on Protection of Investors' Rights was established by the Verkhovna Rada on June 5, 2020 with a term of one year. During the first six months a report on the results of the Commission's work will be prepared and heard by Parliament.
Similarly to other countries around the world, Ukrainian anti-competition law gives the regulator wide discretionary powers allowing it to shape its own law-application practice. On the one hand, this is required due to the special features of the functions the anti-monopoly authority is entrusted with because in case of excessive detailing and regulatory bureaucratisation of the approaches applied by the AMCU, its operations will lose the required efficiency. On the other hand, discretionary powers by default pose a risk of potential abuse by the authority and violation of the rights of the business, in particular, due to the lack of predictability and legal certainty.
Considering the above, judgments rendered by courts in cases where decisions made by the AMCU following the review of violations of competition laws and regulations are challenged take on outstanding importance. The court practice gives both the Committee and the business an opportunity to understand which approaches and measures applied on the market are admissible and legal, and which are not. In this publication I suggest reviewing some most recent judgments that are important for the understanding of an approach taken by courts when adjudicating competition disputes.