Attorneys of Vasil Kisil & Partners successfully acted for Piraeus Bank ICB before the Supreme Court in the case relating to the recovery of UAH 175 million from the notorious developer's financial surety.

The Bank sued the developer's financial surety to recover the amount owed under the loan agreement. The first instance court, whose conclusions the appellate court agreed with, sustained the claim. The financial surety lodged a cassation appeal referring to formal violations of the procedural law made by the first instance court during the trial in absentia.

Vasil Kisil & Partners lawyers defended the Bank in the Supreme Court and proved that formal violations of the procedural law alone may not be the ground to overturn a lawful and justified judgment. The Supreme Court agreed to the attorney's arguments and dismissed the surety's cassation appeal and consequently upheld the inferior courts' decisions and resumed their enforcement.

The project team that acted for Piraeus Bank before the Supreme Court included partner of dispute resolution practice group Oleg Kachmar, senior associate Yuriy Kolos and associate Oleksandra Bortman.

Piraeus Bank ICB JSC is a member of the Piraeus Bank international banking group headquartered in Athene, Greece. Founded in 1916, Piraeus Bank is the leading bank in Greece.

Vasil Kisil & Partners Successfully Acted for Piraeus Bank before the Supreme Court to Recover UAH 175 Million