Vasil Kisil and Partners represents Lviv Polytechnic National University before the Supreme Court of Ukraine
Vasil Kisil and Partners successfully represented Lviv Polytechnic National University as a third party in a complex dispute, which included an insolvent bank, before the Supreme Court of Ukraine. The dispute related to a recognition of the legal relationship between a bank and another company as terminated because of the offset of counter claims.
Lviv Polytechnic National University, one among two other entities, transferred its right to claim UAH 54,000,000 from a bank to a company – bank’s debtor under the loan agreement in the amount exceeding UAH 427,000,000. After receiving a notification from a debtor regarding the offset of counter claims, bank argued that the obligations of the debtor under the loan agreement had not been fulfilled at the time and, thus, did not recognize the offset of counter claims. Also, the bank challenged the offset of counterclaims as it had allegedly been used after temporary administration was introduced to the bank by the National Bank of Ukraine.
The Supreme Court of Ukraine did not, however, accept the bank’s arguments and dismissed the application on review of the decision of the cassation court.