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CMS Helps PrimoCollect Obtain Regulatory Approval for Acquisition of Kredyt-Kapital

CMS Helps PrimoCollect Obtain Regulatory Approval for Acquisition of Kredyt-Kapital

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CMS has helped the PrimoCollect Group secure the approval of the National Bank of Ukraine for its acquisition of a substantial interest in the Kredyt-Kapital LLC financial institution. 

According to CMS, “the NBU has taken on this new regulatory role following the introduction of the 'On Amendments to Some Legislative Acts Regarding the Improvement of the Functions of State Regulation of Financial Services' law (also known as the ‘Split Law’), which came into force on July 1, 2020. The Split Law reduced the number of regulators in the non-banking financial sector by liquidating the National Commission for State Regulation of Financial Services Markets, which had previously acted as the regulator of non-banking financial institutions. Its financial markets regulation duties were then split between the NBU and the National Securities and Stock Market Commission. The NBU started to supervise non-banking financial institutions, such as insurance companies, credit institutions, financial companies, leasing companies and other non-banking financial institutions.”

The PrimoCollect Group is a debt recovery agency operating in Ukraine and Russia. According to CMS, the company “provides its customers with effective solutions in the field of debt collection, offering extensive operational capabilities in debt acquisition, outsourced debt collection and related scoring and risk management consulting.”

CMS’s team included Partner Ihor Olekhov and Lawyers Ivan Pshyk and Iryna Kravchenko.

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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