Back to Press Center

Ukrainian Law Firms 2022 and Market Overview without Rankings. This year, Ario Law Firm is recognized across four practice areas


Restructuring and Insolvency

05 December 2022

The twentieth anniversary edition of the Ukrainian Law Firms 2022 research, tailored for foreign clients, emerged as something unique this year in light of the ongoing conflict. Due to ethical and moral considerations, the organizers decided against publishing the traditional ranking tables. Instead, they focused on providing an overview of the activities of Ukrainian law firms. This year, Ario Law Firm, as usual, featured in the practice reviews for "Bankruptcy," "Criminal Law and White-Collar Crime," and "Litigation." A notable achievement for the Ario team was recognition in the "Corporate Law and M&A" practice.

Here's the assessment from the Ukrainian Law Firms 2022 researchers:


"Ario Law Firm is renowned for its involvement in high-profile bankruptcy cases and boasts a versatile bankruptcy practice team representing both creditors and debtors. They handle liquidation procedures and address criminal aspects arising in this practice. Their intricate bankruptcy projects often intersect with corporate conflicts and raiding incidents. In 2021, the firm continued to oversee the liquidation procedure in the notable bankruptcy case of the Mykolaiv Shipyard "Ocean"; they represent PJSC "Kyivrekonstruktsiya" in a bankruptcy case initiated due to illegal property transactions; they represent the interests of the debtor of the Kyiv hotel "Lybid."

Additionally, the firm offers complimentary consultations on personal bankruptcy.

Frequently appearing in court proceedings, the firm navigates complex bankruptcy procedures involving the recognition of creditors' claims, the development of restructuring plans and amicable agreements, and financial rehabilitation.

The firm's criminal practice regularly delves into bankruptcy cases, uncovering violations within such proceedings. Led by the firm's partners - Irina Serbin (until 2021), Oleksiy Voronko, and Ruslan Sidorovych - this practice maintains a steadfast reputation. Notably, legal stalwart Julian Khorunzhiy, while esteemed in this field, has redirected his focus to the firm's burgeoning corporate practice," - writes the Ukrainian Law Firms 2022 research.

"Corporate Law & M&A"

"The Ukrainian Ario Law Firm, renowned for its distinguished expertise in bankruptcy and insolvency, showcased substantial growth in its corporate practice throughout 2021. In addition to its established portfolio handling corporate conflicts resolution and asset safeguarding, the team has taken on an advisory role, overseeing corporate reorganizations, safeguarding corporate rights, and conducting risk assessments. They also conduct due diligence and provide support for investments in share capital.

The practice group has tackled issues of corporate governance, restoration of corporate rights, business divisions, and facilitated internal M&A transactions across diverse regions of the country. Much of the feedback received has been from sectors such as real estate, agribusiness, energy, and transportation. This practice is spearheaded by the firm's partners - Julian Khorunzhiy, Ruslan Sydorovych, and Andrii Fylyk," noted the publication.

"Criminal Law and White-Collar Crime"

Ario Law Firm boasts a robust criminal law practice, representing political figures, business owners, prominent human rights defenders, and victims of unlawful acts. The experienced team focuses on cases involving bribery, embezzlement, theft, official misconduct, and crimes related to private property.

In 2021, the firm continued to represent the interests of Lviv Mayor Andriy Sadovyi in allegations of abuse of power during the construction of an industrial park. They also represented former President of Georgia Mikheil Saakashvili in criminal proceedings in Georgia and his return to Ukraine. Additionally, the team represents the families of the victims of the PS752 flight of Ukraine International Airlines, which was shot down in Iran in January 2020. They also defended the director of the Pischansky Quarry State Enterprise, who was accused of illegal mineral extraction and misappropriation of funds from their sale.

The head of the criminal practice, Yevhen Hrushevets, is recognized for his professional prowess," noted the research.

"Litigation Practice"

"Ario Law Firm garners attention with its active involvement in litigation proceedings concerning insolvency, corporate conflict resolution, anti-raiding efforts, property disputes, and debt collection. The firm boasts experience representing both creditors and handling complex cases intertwined with parallel criminal proceedings.

Throughout the year, the firm continued to advocate for the Libid Hotel Complex in a corporate dispute stemming from a raiding attempt on corporate rights. It also provided legal support in criminal proceedings and prepared an appeal to the European Court of Human Rights regarding a decision by the Supreme Court of Ukraine. Another significant case involved representing the IT company Finik.Pro in a dispute with Alfa-Bank over payment refusal for internet banking development, setting a precedent due to agile contracts between the parties. Partners leading the practice include Julian Khorunzhiy, Yevhen Hrushevets, Ruslan Sydorovych, and Andriy Fylyk," outlined the research.