Partners

Ludmila Simonova – President of IRE (Ukraine) LLC and Partner, Thomas and Simonova

Ms. Ludmila Simonova is an American-Certified Appraiser and Senior Member of the American Society of Appraisers (ASA) – the only Ukrainian citizen to be сertified.

Ludmila serves as a Vice-President of the European Chapter of the ASA. She is also a Certified Ukrainian Appraiser and a Founding Member of the Ukrainian Society of Appraisers (UTO), Fellow UTO Appraiser, Member of the Board and Chair of the International Relations Committee.

She was the lead author of Ukraine’s National Standards of Appraising, developed on the basis of IVS Standards in 2003, and co-author of the IVS-2017 translation in Ukrainian.
Recently Ludmila Simonova was appointed to Tangible Assets Standards Board of IVSC – https://www.ivsc.org/about/boards/standards-review/tangible-assets-standards-board/person/id/148

Ludmila specialises in business and asset valuations for large and complex companies undergoing international audit located throughout Ukraine, Russia, Eastern Europe, USA and Central Asia.

Ludmila has worked on over 400 appraisal assignments covering a broad range of assets, purposes and uses. Asset valuations have included:

Land (vacant and improved); commercial and residential real estate; industrial real estate; hotels and retail facilities, all in compliance with International Valuation Standards (IVS); more than 50 total fixed asset valuations according to International Financial Reporting Standards (IFRS) for firms undergoing international audits by Big-4 firms.

Ludmila has supported litigation in the High Court of London; corporate and project debt and equity financing; company acquisition, sale, liquidation and privatisation; and financial due diligence. Her clients, projects and companies have covered a broad range of economic sectors including: energy (e.g. oil and gas production, refineries, electricity distribution), industrial (e.g. metallurgical, cement, manufacturing, military production and port facilities), agriculture, agribusiness (milk and meat processing, grain storage and export terminals, equipment and input distribution), financial institutions (banks), real estate developers, and public utilities.

Personal Contact information:  lns@ire.kyiv.ua

Paul R. Thomas – President IRE (USA) Inc. and Partner, Thomas and Simonova

Mr. Thomas is an industrial economist and financial analyst with over 30 years of direct international experience, including 20 years of experience in the appraisal industry in Ukraine. He specializes in market valuation of real estate, land, development projects, appraisal report review, and financial due diligence.

For 8 years as an economic research director at the United States Bureau of Mines, Mr. Thomas was responsible for international mineral supply analysis and worked worldwide conducting on-site enterprise evaluations from mining through refining. For 7 years as Vice President and President of the Economics Institute of the American Economics Association, located at the University of Colorado at Boulder, Colorado, he was responsible for international business development and worked directly with a large number of foreign government ministries, banks, financial institutions and private businesses around the world.

Mr. Thomas is an adjunct professor of Economics and Business who has designed academic programs and taught business and economics courses for the University of Colorado at Boulder, Colorado; the Colorado School of Mines at Golden, Colorado; Carnegie Mellon University in China, and in several countries, including Vietnam, Indonesia and Venezuela on behalf of the Economics Institute. He has authored numerous publications in the fields of industrial economics and asset and business valuation. He is a Practicing Affiliate Member of the U.S. Appraisal Institute and was co-developer (with Ms. Simonova) of two advanced international appraisal courses developed for the U.S. Appraisal Institute: (1) Valuation in Challenging Markets and (2) International Financial Reporting Standards for the Real Property Appraiser.

Personal Contact information:  Pthomas306@aol.com