Insolvency case of an individual debtor

Vasil Kisil & Partners’ lawyers have successfully concluded a case involving the insolvency of an individual debtor under a mortgage loan agreement in foreign currency concluded before the global financial crisis of 2008.

Prior to the full-scale invasion by the russian federation, Vasil Kisil & Partners applied for the opening of insolvency proceedings concerning the individual debtor to the Commercial Court. Despite objective obstacles and uncertainties about the future, the team managed to get the case to the end, representing the client at each stage of the process (debt restructuring/repayment).

Upon consideration the application and conducting a comprehensive analysis of the debtor's financial standing, the court rendered a decision to release the client from any further obligation to fulfil monetary claims of creditors totalling over UAH 3 million. 

Lawyers of Vasil Kisil & Partners secured the cancellation of seizures on both movable and immovable property of the client and the removal of respective records from the registers.