project

Debt recovery dispute

Representation of the interests of the international bank in a number of disputes regarding the collection of debt from a beneficiary of notorious construction companies on the grounds of sureties.

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.

client:

Piraeus Bank

Team

Oleg Kachmar

Partner, Attorney-at-Law

Domestic Litigation,
Restructuring and Insolvency,
Agribusiness,
Insurance

Yurii Kolos

Counsel, Attorney-at-Law

Domestic Litigation,
Restructuring and Insolvency

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