Debt recovery dispute
The debtor in the case at hand is a founder of several construction companies, which, as it turned out later, were carrying out unlawful construction works and were attracting the funds of private investors. These companies received loans, which were guaranteed by, inter alia, surety of the founder-beneficiary.
The bank filed within the court several claims and got the decisions for recovery of companies’ debts from the beneficiary.
The Supreme Court in its decisions dated 23 May 2018 and 26 September 2018 upheld the rulings of courts of previous instances to recover the companies’ debts.
Matter value is USD 13 mln.
Senior Associate, Attorney-at-Law
Restructuring and Insolvency,
Restructuring and Insolvency