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Alexander Weigelt gave a Lecture on Ukrainian new Transparency

On 17th July Nobles Partner Alexander Weigelt gave a lecture Know Your Business Partner or Shedding Light on Persons and Legal Entities, which was organized in cooperation with EBA Management Development Centre team.

Knowing about persons or entities you enter into contact with is essential for executing on any broader strategy. In the business world, like in any other sphere, gathering as much information before making a decision is inestimably important for establishing security and tracking new opportunities.

Drawing on his 25 years experience of consulting US, EU and Ukrainian clients, Alexander outlined different scenarios, in which the need to investigate a person or legal entity may arise. These include establishing business relations, preparing claims enforcemnt, intra group investagation, transaction-related due dilligence or locating an individual. Alexander addressed some issues, which foreign clients typically encounter when seeking to obtain information on a potential Ukrainian partner. He also touched on the expectations of foreign clients for a consultant, which include unbiased information, compliant research methods as well as meaningful interpretation of facts.

Before evaluating a person or entity in question, (or have your consultant do it) you need to gather relevant information. There are different channels that may translate such information and various ways to obtain it - from checking the person's social media pages to more sophisticated or even creative ways. Alexander remarked on the differences in investigation mindset, as well as the ease with which necessary information may be obtained in Ukraine in comparison to the EU or US. Among others, Alexander cited State register of Proprietary Rights to Immovable Property, Unified State Register of court decisions Unified Register of legal entities and natural persons as a important sources of information.

Alexander demonstrated the importance of Interpretation of the findings with several case studies of Nobles and engaged audience in the discussion about other helpful tools of shedding light on persons and legal entities.

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