Vasil Kisil & Partners successfully represented Sandypool Ltd in USD 21 mln credit dispute


Vasil Kisil & Partners Law Firm successfully represented the interests of Sandypool Ltd (Cyprus) in a dispute over a $ 21 million debt against Specialised Seaport Nika-Tera LLC in a commercial court.

The Seaport’s debt comprises debts under 8 credit agreements. Vasil Kisil & Partners’ attorneys succeeded in securing a claim by seizing the debtor's accounts even before the proceedings were opened. The arrest warrant of the accounts was executed in the shortest terms.

After that, the parties agreed to a peaceful settlement of the dispute, in connection with which the firm’s lawyers advised the client on the terms of the amicable agreement and participated in the negotiations on the restructuring of the debt.

Upon successful negotiations and approval of the amicable agreement by the court comprising a new loan payment schedule, the client received from the debtor the repayment of the current debt on the loans and the reimbursement of all legal expenses incurred, including the cost of legal aid.

The project team consisted of Andriy Stelmashchuk, Managing Partner, Yuriy Kolos, Counsel and Dmytro Derkach, Junior Associate.

Sandypool Ltd is a Cyprus investor who has financed the construction and development of the Seaport in Mykolayiv costing over $ 25 million.