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Asters Advises ViDi Group Companies on the First Ever Financial Restructuring Involving State Bank in Ukraine

Asters Advises ViDi Group Companies on the First Ever Financial Restructuring Involving State Bank in Ukraine

Ukraine
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Asters has advised the ViDi Group on the restructuring of debt belonging to group companies ViDi Autocity Kiltseva and LLC ViDi Autocity from JSC Oschadbank, implemented in accordance with Ukraine's "On Financial Restructuring" Law.

The VіDі Group is one of the largest car dealers on the Ukrainian market. The company portfolio includes 16 car brands. The VіDі Group also includes companies operating in the insurance, leasing and logistics spheres.

According to Asters, "JSC Oschadbank is a state bank that is the second largest in Ukraine by assets and the biggest by the number of branches among all the Ukrainian banks. The total loan and investment portfolio of the Bank as of August 1, 2017 is UAH 147.6 billion."

"Our firm played an active part in drafting the new Law "On Financial Restructuring" along with the World Bank and the EBRD experts," said Asters Partner Iryna Pokanay. "Finally this work has materialized into the first ever successful financial restructuring involving a state bank. This project is a serious start for subsequent restructurings and marks an opportunity for Ukrainian companies to implement turnarounds and for lenders to increase the efficiency of cooperation with their borrowers."

The Asters team consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian, and Associates Inna Bondarenko and Oleksandr Khomenko.

Ukraine Knowledge Partner

Avellum is a leading Ukrainian full service law firm with a special focus on finance, M&A, and dispute resolution. Our goal is to be the firm of choice for our clients with respect to their most significant business transactions. We bring the most advanced Western legal techniques and practice, which, coupled with our first-hand knowledge, broad industry experience, and unparalleled level of service, will help our clients achieve best results in their business endeavours. We work seamlessly in integrated teams with premier US, UK and European law firms in course of multijurisdictional transactions. The team consists of 26 highly qualified attorneys, including three partners – Mykola Stetsenko, Glib Bondar, and Dmytro Marchukov, who are actively involved in every transaction. Avellum is recognised as one of the leading law firms in Ukraine by various international legal directories and Ukrainian legal editions (Chambers, Legal500, IFLR1000, Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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