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