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Ilyashev & Partners Negotiates Insurance Settlement for Budpostach

Ilyashev & Partners Negotiates Insurance Settlement for Budpostach

Ukraine
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Ilyashev & Partners has successfully represented the interests of Budpostach regarding a February 2, 2019 fire which resulted in the burning down of the company's Kyiv warehouse. 

Budpostach, founded in 1996, manufactures professional equipment and tooling in Ukraine. It has 71 branches in the country. 

On December 5, 2019, the Universalna insurance company, which insured Budpostach, agreed to pay Budpostach UAH 272.59 million for its claim.

According to Ilyashev & Partners, “this settlement [is] the largest negotiated in the Ukrainian insurance market in 2019, and one of the largest in its history. According to the National Commission for Regulation of Financial Services Markets, the total net volume of insurance payments made under property insurance contracts in Ukraine in January-September 2019 amounted to only UAH 320.7 million.”

A criminal proceeding was initiated over the fire as well, but it was dropped in July.

The Ilyashev & Partners team included Managing Partner Mikhail Ilyashev, Partner Yevgen Solovyov, and Attorney Mykola Burtovyi.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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