For 7 years we have been recovering problem debts and handling toxic assets that became a point of contention in court. Among our clients are Ukrainian and foreign banks, financing and industrial companies.
Over the past 5 years we have recovered over UAH 1.6 billion for Ukrainian and foreign banks.
We create precedents that are changing the legal landscape. For instance, banks used to be unable to take away attached and mortgaged apartments which had been purchased prior to the encumbrance. This decision had been adopted by the Supreme Court of Ukraine, and it became a countrywide problem: people started selling off their mortgaged property en masse. As a result of our work, the Supreme Court of Ukraine reconsidered its decision. Now if attachment and mortgage are restored, the bank has the right to take the mortgaged property even if there is a new owner or encumbrance period.
We also aim to refine legislation on protecting banks from dishonest debtors. ILF lawyers prepared a Reform Roadmap for the National Committee on the Issues of Regulating the Financing Services Market, as well as a scenario on managing problem debts for an association of banks.
In 2014 the Bankir (Banker) magazine recognized ILF as the leader in loan and debt reorganization. Our litigation partners are experts on disputes related to banking law and capital markets, corporate and administrative law, arbitration and mediation (Best Lawyers in Ukraine, Ukrainian Law Firms 2016). Litigation department head Olexiy Kharytonov is among TOP 5 best litigators of Ukraine (Ukrainian Law Firms 2016).
We save bank assets and prevent mortgaged property from evading seizure. Court statistics and our own data show that over the past two years the number of mortgage disputes went up by 30%.
We can help you identify the debtor’s assets and use them to settle or minimize problem debts.
We anticipate the debtors’ defense, prevent them from avoiding payment and handle debt recovery every step of the way. If debtors resort to document forgery in order to dodge the debt, we conduct an investigation and submit the evidence to the Prosecutor General’s Office, police, Security Service of Ukraine or Anti-Corruption Bureau.
We keep our clients informed of every detail of the case, which helps them react to new circumstances at a moment’s notice.
Reform of the judiciary launched in early 2018 has reduced the number of courts and judges, improved their financial situation, introduced remote legal proceedings and expanded the responsibilities of lawyers and applicants.
The case Biola v. National Bank of Ukraine is scheduled for examination on 22 February in the Business Court of Kyiv ( No. 910/15949/17). Or more specifically - private joint-stock company Erlan: this is the official name of the company that makes products under the Biola brand.