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Ukraine will not recognize foreign courts' decisions in cases involving debt collection from the country's strategic defense enterprises in favor of the aggressor state, which is Russia.
The Verkhovna Rada, Ukraine's parliament, has adopted bill on amending legislation related to certain arrears of enterprises – members of Ukraine's state-run military-industrial concern Ukroboronprom – before the aggressor or occupying state, as well as on ensuring their sustainable development.
The document was backed by 244 MPs with the required minimum at 226 votes, an UNIAN correspondent reported on July 12.
According to the bill, Law of Ukraine "On Private International Law" envisages that Ukraine shall not recognize or perform decisions of foreign courts related to recovery of debts from the state-owned enterprises of Ukraine's military and industrial complex of strategic importance for the country's economy and security in favor of a legal person of an aggressor and/or occupying state, or a legal entity with foreign investments, or a foreign enterprise of the said state.
A relevant provision is also made in the Law of Ukraine "On Enforcement Proceedings."
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The bill amends the law of Ukraine related to certain issues of arrears of enterprises of Ukraine's state-run military-industrial concern Ukroboronprom and insurance of their sustainable development. In particular, it stipulates that enforcement of decisions on debt collection is not allowed when the creditor (collector) is a legal entity of an aggressor and/or occupying state, or a legal entity with foreign investment, or a foreign enterprise of an aggressor and/or an occupying state, while the debtor is the state-owned enterprises of Ukraine's military and industrial complex of strategic importance for the country's economy and security.
In addition, it is established that executive proceedings that have already been opened are subject to closure, while the opening of new executive proceedings and measures enforcing debt-recovery rulings at strategic enterprises shall be banned.
The document comes into force the day following the date of its publication.
As was earlier reported, the Cabinet of ministers approved the strategy for the development of Ukraine's military and industrial complex until 2028, which was developed by the Ministry of Economic Development and Trade.