Arricano is ready to contribute to the implementation of the Presidential Decree "On measures to counter raiding"
Arricano Real Estate Plc, a foreign investor that has invested in the construction of modern shopping malls in Ukraine over $ 400 million of the planned $ 750 million of the strategic investments since 2006, expresses the hope that Decree No. 542/2019 "On measures to counter raiding", signed by the President of Ukraine Volodymyr Zelenskyy on July 22, 2019, will be a strategic step towards creating favorable conditions for doing business. According to the Decree, the Cabinet of Ministers of Ukraine initiated the issue of legislative changes regarding the protection of property rights of investors, elimination of gaps in the legislation allowing raiders to destroy the business, it is planned to introduce technological changes that exclude interference in state registers (automatic monitoring of risky transactions with subsequent confirmation / stop of registration actions, the creation of a back office that will revise transactions with increased risk, photo and video recording of transaction participants; the introduction of additional confirmation of registration operations (for example, SMS-password or MobileID) and additional authorization of transaction participants (for example, EDS). Arricano is confident that the chosen course of the fight against raiding will affect the improvement of the economic and legal situation in the state, the improvement of the business climate and the formation of investment attractiveness of Ukraine, which guarantees the rule of law and the protection of private property. Mykhailo Merkulov, CEO of Arricano, expresses the company's readiness to take part in improving the investment climate in Ukraine: "Responding to the call of the President to business representatives to invest time, money and ideas in the development of Ukraine, voiced at the forum "Dialogue of business and government", Arricano is ready to contribute to the development and implementation of policies to combat raiding. Having many years of experience in fighting for our assets in both Ukrainian and foreign courts, we are ready to share expertise on improving legislation, mechanisms and procedures that help to minimize or make impossible raider attacks. We are ready to invest in the development of Ukraine, where the rule of law, expertise, ideas, experience, time is guaranteed, because Ukraine is a promising state with potentially better opportunities for life, business development and investment." Arricano has a negative experience of raider seizure of Sky Mall, and withdrawal of its assets. Dispute for Ukrainian asset between Arricano Real Estate Plc and Stockman Interhold S. A. has been going on for 8 years. Despite numerous decisions of international courts, Arricano is still deprived of access to information on the activities and management of the shopping mall. In Ukraine, this case deliberately remains without attention of law enforcement officers, who actually cover the corruption schemes of the Ministry of justice and the Ukrainian courts. "Unfortunately, this case became a marker, of the level of raiding and corruption in Ukraine, the participants of which were the ministries, and the raiding itself had all the signs of a special operation," said Yevhen Maleiev, lawyer, Director of the Legal Department of the Arricano Real Estate Plc group. Arricano is confident that business representatives, who survived the raider attacks and understand from their own experience where it is possible to use corruption schemes, can form working groups in which, together with lawmakers, to develop improved laws and procedures. To implement the anti-raider Decree, it is necessary to work systematically and consistently – in addition to the development of the law, to create strategic directions for the implementation of the Decree, to develop programs for the implementation of the new law, to develop mechanisms and procedures. And the business can help in than. After all, the formation of a healthy business culture and a perfect investment and legal field in Ukraine is beneficial to all who have chosen a civilized way of development.