Restructuring, Claims and Recoveries


Counseling at the financing/risk insurance stage

Сounseling at the default stage or during restructuring


Matters in the sphere of restructuring and non-performing loans (NPL) require not only a thorough theoretical knowledge of legislation, but also a considerable amount of practical experience. GOLAW’s attorneys represent the interests of Ukrainian and foreign financial institutions such as private and public insurance companies and international banks in providing financing, debt restructuring and resolving disputes with unconscientious debtors.

Our firm’s lawyers have substantial experience dealing with issues such as the legal audit of borrowers and their assets, preparation of collateral contracts (mortgage, pledge), development of legal and GR-strategy of protection of financial institution’s rights against fraudulent actions of debtors, foreclosure of the pledged (mortgaged) property, including through court proceedings. 

GOLAW represented the interests of a state-owned Czech bank as a scheduled creditor during the debtor’s bankruptcy proceedings in Ukraine, and accompanied the enforcement of the foreclosure on the pledged integral property complex. In addition, the firm advised a foreign holding company on the restructuring of non-performing liabilities in order to optimize the activity of the company. The main advantage of GOLAW is the existence of a restructuring strategy on the one hand, and the ability to adapt well-tested legal protection instruments for the individual needs of each client, on the other.

Novelties in bankruptcy, liquidation, restructuring, and pre-trial rehabilitation procedures remain on the agenda of the legal community of Ukraine due to the adoption of the Code of Ukraine on Bankruptcy Procedures in the autumn of 2020.

The Code establishes the provisions that govern the legal relationship of the individual bankruptcy, the joint responsibility of the head of the debtor in case of failure to satisfy the creditors’ claims, changes the bankruptcy procedure in Ukraine, and improves the restructuring procedure.

The Code of Ukraine on Bankruptcy Procedures regulates the subsidiary liability of founders of a bankrupt entity if the size of the debtor’s property is unsatisfactory. Under the new bankruptcy legislation, citizens can get out of debts in a way of their restructuring.

GOLAW associates have fundamental knowledge in the field of legal support in bankruptcy procedures in Ukraine, restructuring, and filing claims for debt collection.

The diversified experience in the field of bankruptcy, restructuring allows GOLAW legal practitioners to promptly navigate the application of the updated legislation of Ukraine on bankruptcy, restructuring procedures to protect the rights of both the creditor and the debtor.

Legal support in bankruptcy, restructuring procedures

  • Legal assistance in drawing up the concept of monetary obligations restructuring, economic activities under the effective legislation of Ukraine
  • Legal support of restructuring, bankruptcy in the courts of Ukraine
  • Development of a strategy aimed at restoring the debtor’s solvency, transforming the method and mode of the debtor’s obligations performance to avoid bankruptcy
  • Conducting a mutually beneficial dialogue on agreeing on the conditions for effective debt restructuring under the legislation of Ukraine on bankruptcy
  • Legal assistance in protecting the rights of debtors in bankruptcy proceedings
  • Consulting companies on the subject of compliance with the tax legislation of Ukraine in the restructuring process, bankruptcy proceedings
  • Legal assistance to the founders of the debtor, the owner of the property in developing a system of individual legal, economic, innovative, technical measures to avoid bankruptcy
  • Preparation for filing an application, on the basis of which the bankruptcy proceedings are initiated in Ukraine
  • Collection of documented evidence of insolvency threats, the balance sheet of the debtor, a list of property with an indication of its book value, the identification of the pledged property, the concept of debt restructuring for bankruptcy proceedings
  • Establishing a list of persons with outstanding obligations to the debtor, calculating the value of obligations, the deadline for their execution for bankruptcy proceedings
  • Advising on the conclusion of contractual agreements for the debt alienation under the provisions of Ukrainian legislation
  • Legal support of business entities in the development of restructuring policy
  • Legal support in the negotiation of the provisions of agreements on a deferred debts collection from the debtor, guarantors, and the appeal of claims for the pledged item
  • Legal assistance during the bankruptcy procedures, liquidation, debt restructuring, disposal of property in Ukraine

Legal support of creditors in bankruptcy proceedings

  • Legal support in the registration of property rights to pledged property, appeals against arrests under the legislation of Ukraine
  • Legal support for effective operation, achieving the objectives of the creditors’ committee, conducting bankruptcy proceedings
  • Analysis of financial, economic activities, the actual status of the pledged property, monitoring the main financial indicators of the debtor to decrease financial losses following the bankruptcy procedure
  • Analysis of the borrower’s reliability, assessment of possible bankruptcy risks
  • Legal support of companies, protection of the creditors’ rights in the courts of Ukraine under claims secured by a pledge of the debtor’s property in bankruptcy proceedings
  • Elaboration of the provisions of loan agreements, mortgages, property pledges, including a pledge of property rights, surety, guarantees, to protect property rights in case of undesirable bankruptcy litigation
  • Legal support when appealing against arrests and other encumbrances imposed on property, based on the provisions of Ukrainian legislation
  • Legal support of unsecured creditors in bankruptcy proceedings

By applying for legal assistance and support from GOLAW following bankruptcy proceedings, restructuring in Ukraine, you will be able to maintain business relations having the legal status of both the debtor and the creditor.

Iryna Kalnytska

Iryna Kalnytska

Partner, Head of Tax practice, Restructuring, Claims and Recoveries practice, Attorney at law

  • Recognitions
  • The Legal 500 EMEA 2021
  • Best Lawyers, Ukraine 2022
  • Who’s Who Legal 2021
  • Ukrainian Law firms. A Handbook for Foreign Clients 2021
  • 50 leading law firms of Ukraine 2020


  • Advising Expobank СZ a.s. in a dispute with unfair debtor and receivables assignment process

    Full legal support of Expobank СZ a.s., one of the leading financial institutions in the Czech Republic, in a loan dispute with a major Ukrainian glass factory; restoration of the bank’s rights over the pledged assets and successful sale of the receivables

  • Representation of Export Guarantee and Insurance Corporation of the Czech Republic interest in a debt restructuring process

    Full legal support of EGAP (Export Guarantee and Insurance Corporation of the Czech Republic) in a dispute with a major Ukrainian agroholding regarding the debt recovery under the loan agreement, blocking fraudulent bankruptcies of the borrower, successful foreclosure on the grain elevator and further sale of the foreclosed assets at public auction

  • Advising Česká exportní banka, a.s. (ČEB) and Export Guarantee and Insurance Corporation of the Czech Republic in a foreclosure on the collateral process

    Full legal support of the Česká exportní banka, a.s. (ČEB) and EGAP (Export Guarantee and Insurance Corporation of the Czech Republic) in a complex loan dispute with Kuzmyntsi Brick Factory. Restoration of the bank’s right over the mortgaged assets, initiating bankruptcy of the borrower and successful foreclosure on the brick factory and the land plot with its further sale at public auction as an integral property complex

  • Advising ProCredit Bank in a debt restructuring process

    GOLAW provides complex legal support ProCredit Bank in the pre trial debt settlement with the subsequent restructuring  of the debt

Key lawyers

Valentyn Gvozdiy
  • Managing Partner, Attorney at law, PhD
Sergiy Oberkovych
  • Senior Partner, Attorney at law
Kateryna Manoylenko
  • Partner, Head of Litigation and Dispute Resolution practice, Attorney at law
Iryna Kalnytska
  • Partner, Head of Tax practice, Restructuring, Claims and Recoveries practice, Attorney at law
Olena Sulyma
  • Senior Associate, Attorney at law
Find a professional


Galina Kočendova

Deputy Director at Claims Settlement and Debt Recovery Department
Export Guarantee and Insurance Corporation (EGAP)

EGAP as a credit insurance corporation insuring credits connected with exports of goods and services from the Czech Republic against political and commercial risks has been co-operating with GOLAW for many years. Starting from the year of 2015 we have been co-operating very intensely. We really appreciate their progressive approach to solving complex legal issues of claims recovery in Ukraine. We have profited from GOLAW’s attorneys ability to select and follow a winning strategy and from their business oriented approach. As a result of this approach our insured bank foreclosed upon an asset that has been nearly lost due to unlawful action of the debtor and is close to substantial recovery.

Ruben Oganyan

Head of Сredit risk department
ProCredit Bank

We highly appreciate professional legal assistance from GOLAW on supporting our bank as a lender in Ukraine. The firm is an ideal option for clients seeking advice on complex multi-jurisdictional transactions including syndicated lending and project finance transactions. They are extremely business-focused and solution-driven. It’s easy to work with the team as they listen to clients’ needs. The personal touch they have is beyond other firms.


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