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EPAM Successful for Transaero Founders in Bankruptcy Dispute

EPAM Successful for Transaero Founders in Bankruptcy Dispute

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Egorov Puginsky Afanasiev & Partners has successfully defended the interests of the founders of Transaero in a dispute over a loan that partially led to the air carrier's bankruptcy proceedings.

According to EPAM, the bankruptcy trustee for Transaero filed a challenge to a loan agreement that resulted in the company receiving RUB 250 million and a claim to recover interest paid.

The Court of Arbitration of Russia's North-Western District found the bankruptcy trustee’s claim that the loan was invalid unfounded and held that the “Transaero leadership team had acted reasonably and in good faith.” As a result, the court rejected the bankruptcy trustee’s claim.

The EPAM team was led by Saint-Petersburg-based Managing Partner Ivan Smirnov and included Counsel Evgeny Gurchenko, Senior Associate Artem Magunov, and Associates Alexander Svashenko and Yulia Sevostyanova.

EPAM at a Glance

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated office in Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

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