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.