You're reading: Ukraine to establish profession of private enforcement agents – Ukraine’s Letter of Intent to IMF

Ukraine is working on establishing private enforcement agents as a profession and a respective bill is to be adopted by the end of September 2015, according to Ukraine's Letter of Intent to the International Monetary Fund (IMF), which was published on Aug. 4.

“We will continue to work on a law establishing a profession of private enforcement agents as outlined in the February 2015 MEFP [Memorandum of Economic and Financial Policies.], to be adopted by end-September 2015,” the letter says.

“By end-December 2015, a law will be adopted which strengthens the provisions in the Code of Civil Procedure on Order for Payment for domestic transactions and on garnishment of bank accounts (modified structural benchmark),” the letter says.

In particular, the Order of Payment provisions will be amended to substantially expand the range of claims covered, streamline the evidence required, and make use of standardized forms.

“Regarding garnishment, our goal is to remove bottlenecks that have been identified as hampering the effectiveness of the procedure in such areas as definitional issues, locating debtor bank accounts, service of process, adherence to strict timelines, and the liability of banks for noncompliance. We will complete an implementation plan for the new provisions by end-December 2015,” the letter says.

The law will take effect according to a schedule allowing for assessment of the results of its implementation to mitigate the risks of negative consequences.

Ukraine has pledged to take steps to strengthen the management of the judiciary by taking the following steps by end-September 2015: appointing sufficient commissioners to the High Council of Justice to meet quorum requirements and allocating the necessary budget for salary payments to the council.