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14 March 2012

Sayenko Kharenko successfully represented Kreditprombank in USD 11 mln debt collection litigation

Sayenko Kharenko successfully represented PJSC "Kreditprombank", one of the largest banks in Ukraine, in the case concerning USD 11 mln debt collection from a major corporate borrower and successfully implemented all relevant measures to preserve the pledged assets.

Sayenko Kharenko represented the client (as defendant) in the court of appeal in connection with borrower’s lawsuit on invalidation of the mortgage agreement, the suretyship agreement and the pledge agreement over movable property, as well as on revocation of the ban on disposalof real estate which secured the loan.

Sayenko Kharenko's team was led by partner Sergey Pogrebnoy and included senior associate Sergey Smirnov and associate Anastasiya Sperkach.

"The most important in the present case was, above all, to preserve the pledged assets of the borrower. The court's decision has entered into force and it allows our client to continue collecting the debt", – comments Sergey Pogrebnoy.

Sayenko Kharenko's dispute resolution practice regularly handles the largest litigations and arbitrations in Ukraine. The firm is No.1 by the number of the largest litigations and arbitrations in Ukraine in 2011, according to League Tables by Yuridicherkaya Practika released in December 2011. Currently we handle one of the largest debt recovery portfolios in Ukraine with over 50 cases under management.

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