Svitlana Renkas about the protection of corporate rights - for Legal High School
On September 10, 2019, Svitlana Renkas, head of the legal department (residents) of Arricano Real Estate Plc, read the master class “Special aspects of protecting rights of an ultimate beneficiary, who owns corporate rights indirectly” at Legal High School.
The classes are held within the framework of 5-day intensive course “Corporate conflicts and Raiding Combating” accredited by the National Agency for Accreditation of Ukraine, founded by the Ministry of Economic Development and Trade of Ukraine. During the course, the speakers talked about international standards for settling corporate conflicts, anti-raider protection, corporate fraud, as well as about countering illegal attacks.
“Lawyer’s education is an ongoing process. It is especially important to be competent in a situation when technologies are being developed very quickly, the rate of changes is high and the variety of strategies is increasing,” Svitlana Renkas says. - I am pleased to be a speaker of Legal High School, because the high-quality professional environment that will influence the formation of the legal culture of the country in general is being formed here. We hope that, step by step, professionalism and culture of legal services in general will improve. The rule of law is a doctrine on which the legal system of Ukraine should be based.
Svitlana Renkas believes that protection of rights of owners of corporate rights is an important element of the corporate management system and immediately affects the efficiency of a company in general. The speaker told about the types of beneficial ownership; the strategies and policies promoting the protection of rights of an ultimate beneficiary, the management structure of a public company and the procedures used in public companies, including the rules, principles and procedures that prevent corruption and minimize the consequences of corporate conflicts, as well as approaches to protecting property interests and rights of an ultimate beneficiary.
Using Arricano’s case, Svitlana gave the example of a multidivisional structure of indirect ownership of corporate property and emphasized the importance of structuring such property for effective business management, “In 98% of cases, business structuring improves the state of affairs in a company in general and can protect from many risks and chaos arising during corporate conflicts.”
The speaker specified 4 key policies that contribute to the protection of rights of an ultimate beneficiary, who owns corporate rights indirectly:
• Unification of procedures
• A clear definition of responsibilities and their delegation to units / managers.
• Formalization of relationship between a beneficiary and an executive body.
• Insurance against risks associated with negative consequences of decisions made by an executive body
The students of “School of Corporate Law and M&A” are consulting lawyers who develop their professional competencies, filling the gaps in practical knowledge in the field of law, will listen to 16 more experts reporting on the topic “Corporate Conflicts and Raiding Counteraction” as part of the intensive course. It should be mentioned that authoritative representatives of the industry - partners of leading law companies in Ukraine, heads of departments of major enterprises, judges of higher courts, and civil servants are lecturers of LHS.
The School of Corporate Law and M&A, Legal High School is an innovative educational platform opened to make legal education as accessible as possible, to promote the development of a market of high-quality legal personnel and to unite those specialists in the Ukrainian legal market who are oriented at getting a high professional level and want to meet the needs of the time.