Some Remarks To The Draft Of The Economic Procedural Code Of Ukraine

  • O.R. Kovalyshyn
Keywords: draft of the Economic procedural code of Ukraine, application of the law, jurisdiction, cognizance, indirect claim (derivative suit), corporate dispute, responsibility of the management


On June 2, 2016 the Verkhovna Rada of Ukraine has assumed the Law of Ukraine «On Judicial System and the Status of Judges». This Law, except cardinal changes in the system of ukrainian courts, provides also essential changes to the procedure of legal proceedings. For implementing the Law in practice the essential changes in 89 economic legal proce

Радою з питань судової реформи оприлюднено проект Господарського-про- цесуального кодексу України. Автор аналізує позитивні та негативні сторони даного документу. Зокрема, аналізуються деякі положення інститутів підвідом­чості та підсудності, відповідність проекту кодексу вимогам, що диктуються особливостями розгляду корпоративних спорів. На підставі аналізу автор ви­словлює власні пропозиції щодо удосконалення проекту Господарського-проце- суального кодексу України.

edings should also be done. One of such bills was drafted by Council for questions of judicial reform.

The bill cardinally differs from the existing Economic procedural code of Ukraine that is the oldest of the existing procedural codes accepted in independent Ukraine. It includes nine sections and three hundred seventy two articles. The project regulates separate institutes in detail, brings a number of innovations in a procedural form.

The author analyzes positive and negative sides of this document. In particular, some provisions of the institutes of jurisdiction and cognizance, compliance of the draft of the code to the requirements of corporate disputes solving are analyzed. On the basis of the analysis the author expresses the suggestions for improvement of the draft of the Economic procedural code of Ukraine.

The author proposes to remain the legal norm of the draft of the Economic procedural code about the jurisdiction of corporate disputes the same as in the current Economic procedural code of Ukraine: the case in disputes arising out of corporate relations, including in disputes between founders (shareholders, members) of the legal entity or between the entity and its founder (shareholder, member), including a member who retired, related to the creation, activities, administration or termination of such legal entity except labor disputes.

At the same time he expresses the opinion to give the right on indirect action (derivative suit) not just for the shareholder who has above 10 % of company's stock capital but also for the group of shareholders who have above 10 % of company's stock capital. A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation against a third party. Shareholder derivative suits permit a shareholder to initiate a suit when management has failed to do so. In author's opinion, in this case the rights of the minority will be defended better.

The author pays special attention to the legal force of the laws and their value for the court procedure. He stresses that special laws should have the priority before the codes such as Civil Code of Ukraine, Economic Code of Ukraine etc.