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.
