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Image of Ihor Olekhov
Partner

Ihor Olekhov

Head of Banking & Finance Practice

Languages
  • Ukrainian
  • English
  • Russian
  • Polish
  • German
  • French
Social media

Ihor Olekhov is a Partner and the Head of Banking & Finance Practice at CMS Ukraine.  Ihor specialises in a broad range of finance, banking and investment projects and transactions, as well as corporate governance, corporate reorganisations and financial regulation of banks, investment companies and asset managers, insurance and other financial companies, as well as capital markets deals. Recognised as a leading banking & finance specialist in Ukraine, Ihor has a particular focus on complex international finance transactions, including acquisition finance, asset finance and project finance in the energy, infrastructure and natural resources sectors, M&A in the banking, insurance and financial services sectors, debt restructuring and insolvency, tax aspects of financial transactions and corporate reorganisations, asset management, and aircraft finance. 

Ihor Olekhov is a regular member of working groups appointed to develop new legislation in Ukraine, including such as the Code of Corporate Governance and has actively contributed to the development of milestone legislative acts of Ukraine, such as the Law of Ukraine on Foreign Currency, the new JSC Law and many banking laws and regulations. Ihor Olekhov is one of the co-authors of the Law of Ukraine On Financial Restructuring and the draft Law of Ukraine on Asset Resolution Companies.  Ihor has also contributed to development of ESG and sustainable lending rules for international lenders and investors in CEE.

As part of his asset finance expertise, Ihor has advised many leading leasing companies and international banks on various aspects of aircraft leasing operations in Ukraine, structuring leasing transactions for aircraft and engines, and for leasing of industrial equipment and infrastructure, both in Ukraine and internationally.  Recently Ihor has helped aircraft lessors to arrange arrests and repossessions of aircraft and equipment.

Ihor is the Co-Chairman of the Banking and Financial Services Committee of the American Chamber of Commerce. He is a recommended lawyer by the Chambers Europe, Legal 500 and Best Lawyers for his extensive expertise in various finance transactions, banking regulatory mandates and banking M&A transactions. Clients highlight his "outstanding technical skills and excellent relationships with clients."

Awards & Recognitions
01
  • Quote
    "Ihor Olekhov (partner) is one of the most experienced banking and finance partners in Ukraine. He has exceptional knowledge of the banking and finance regulation. Ihor is always practical and flexible."
    The Legal 500, 2024
  • Quote
    "Ihor Olekhov has good expertise in the banking industry in Ukraine."
    The Legal 500, 2020

Relevant experience

  • Dutch Good Growth Fund on securing regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine for the acquisition of a significant shareholding in the Joint-Stock Company Joint Stock Bank "Lviv", leading SME bank, which focuses its operations in west of Ukraine
  • ING-led syndicate of international banks, including the European Bank for Reconstruction and Development (EBRD), Crédit Agricole - Corporate Investment Bank (CACIB), and Dutch development bank FMO, on the restructuring of Nibulon’s pre-export credit facility (PXF)
  • Arise AB on its acquisition of a 70% stake in Norway and Ukraine-focused renewables developer Fenix Repower AS in a bid to diversify its business technologically and gain a foothold in the Ukrainian market
  • ING-led syndicate of international banks on an adjustment to the loan repayment terms under the USD 450m pre-export facility for Ukraine’s Kernel Group
  • a consortium led by NJJ Holding, the investment firm owned by Xavier Niel, founder of European telecom group Iliad and U.S. private equity firm Horizon Capital, on the landmark acquisition of Datagroup-Volia, Ukraine’s leading fixed telecom and pay TV provider, and Lifecell, the country’s third-largest and fastest-growing mobile operator
  • European Bank for Reconstruction and Development (EBRD) on its USD $75m investment in the USD $825 million sustainability-linked bond (SLB) issued by Ukraine’s national power company, Ukrenergo
  • Export-Import Bank of Korea (KEXIM), an export credit bank from South Korea, on extending its secured USD $36 million financing to Grain Terminal Holdings in Ukraine
  • PrimoCollect Group on successfully securing approval from the National Bank of Ukraine for the acquisition of a substantial shareholding in Tiger Finance, a leading non-banking financial company in Ukraine
  • Acted as the legal partner to NEXT-UA, a joint project launched by the Ukrainian government, USAID, EBRD and the American Chamber of Commerce in Ukraine. CMS worked with a consortium of high-profile technical and financial advisors, including Cirway Consulting, Afi, Araliya, Barva Invest and D3 Consulting
  • European Investment Bank (EIB) in relation to a €50 million loan to Ukraine’s first vertically integrated innovation park UNIT.City
  • European Bank for Reconstruction and Development (EBRD) on a loan of approximately USD 13.9 million to Irshanska SES LLC
  • Vienna Insurance Group on the landmark merger of two Ukrainian insurance companies: Ukrainian Insurance Group and Globus
  • AerCap on the leasing, de-registration and repossession of aircraft
  • A major producer of wind turbines in respect of debt restructuring for the supplied wind turbines generators to Ukraine
  • Bank Gospodarstwa Krajowego and KUKE S.A. on:
    • export credit financing granted by BGK and insured by KUKE regarding the development of the Nikolsky shopping mall in Kharkiv
    • EUR 41.1m construction financing of a shopping mall and office centre in Kyiv granted by BGK and insured by KUKE
  • A syndicate of banks (including Black Sea Trade and Development Bank) led by ING and UniCredit as mandated lead arrangers on the extension and increase to up to USD 400m of a pre-export credit facility to Ukraine’s Kernel Group
  • Bank of Cyprus on various post-completion Ukrainian law matters following the sale of the Ukrainian subsidiary of Bank of Cyprus and associated debt to Alfa Group in 2014

Publications

2023

2022

Memberships & Roles

  • Member of the Ukrainian Bar Association, Ukrainian
  • Co-Chair of the AmCham Ukraine Banking & Financial Servicess Committee
  • International Law Association and the National Council for Civil Liberties “Liberty”, a major human rights organization of the United Kingdom
  • Member of the CFA Institute and CFA Society Ukraine

Education

  • 2011 – UK: GDL, College of Law, London
  • 2002 – LL.M. degree with distinction, University of Edinburgh:
  • 2002 – Hansard Scholar at the London School of Economics and Political Science
  • 2001 – Legal Researcher, Institute of State and Law of the Ukrainian Academy of Sciences
  • 1999 – Diploma in International Law, Taras Shevchenko Kyiv National University