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VKP Successful for Piraeus Bank in Ukrainian Supreme Court

VKP Successful for Piraeus Bank in Ukrainian Supreme Court

Ukraine
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Vasil Kisil & Partners has successfully represented Piraeus Bank ICB in a dispute before the Ukrainian Supreme Court regarding the recovery of UAH 175 million from a developer's financial surety.

According to VKP, "Piraeus Bank sued the developer's financial surety to recover the amount owed under the loan agreement. The first instance court sustained the claim and the appellate court agreed with the conclusions provided by the first instance court. The financial surety lodged a cassation appeal referring to formal violations of the procedural law made by the first instance court during the trial in absentia."

VKP was able to persuade the Supreme Court that formal violations of procedural law alone are insufficient grounds to overturn a lawful judgment. The Supreme Court agreed and dismissed the surety's cassation appeal, upheld the lower courts' decisions, and resumed their enforcement.

The VKP team was led by Partner Oleg Kachmar and included Senior Associate Yuiy Kolos and Associate Oleksandra Bortman.

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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