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Ukrainian Bar Association for Foreign Affairs

Debt recovery. Bankruptcy

Business Law Department

The fulfillment of business obligations in violation of the legislative and regulatory requirements often leads to indebtedness. The lender is the first person interested in the fastest settlement of such debts in full. On the other hand, in the course of debt recovery, the debtor needs protection of his rights and interests, especially when the indebtedness occurred due to some special conditions on his side.

Debt collection may be performed with application of judicial and non-judicial proceedings and may be related to forced debt collection.

Both parties in a debt dispute (lender and debtor) require complex legal support aimed at protection of their legal rights and interests.

In case a certain portion of indebtedness remains, which cannot be repaid during the period, set forth by legislation, it may be necessary to carry out a special liquidation procedure in relation to debtor for the purpose of settling the mentioned indebtedness. This procedure is known as bankruptcy.

During the recovery of the debtor’s solvency or its declaration of bankruptcy both the insolvent party and its lenders need efficient legal assistance.

Based on our practical experience, we provide legal assistance and counseling on issues of debt recovery by means of judicial and non-judicial regulation, as well as legal support of a full range of debtor’s solvency recovery and bankrupt declaration procedures.