Regional news: Ukraine

English court recognises Ukrainian bank’s liquidation

The liquidator of a Ukrainian bank has received recognition in England under the UK’s Cross-Border Insolvency Regulations, five months after a Florida court granted Chapter 15 recognition of the bank’s 2015 liquidation.

30 April 2021

Chapter 15 round-up: DTEK, Greensill and Samarco seek recognition in New York

Ukrainian coal miner DTEK has sought US recognition of its English scheme compromising New York bonds, while Greensill Bank’s German insolvency administrator and Brazilian mining company Samarco Mineração have also made Chapter 15 applications for their respective proceedings in Bremen and Belo Horizonte.

21 April 2021

DTEK to poll creditors on English schemes amid Russian objection

Ukrainian coal miner DTEK has won permission to hold creditor votes on two English schemes, despite opposition from a Russian bank creditor on lack of jurisdiction grounds.

16 April 2021

Ukrainian bank’s liquidator seeks recognition in US and UK

The liquidator of a Ukrainian bank facing over US$1 billion in creditor claims has filed for recognition in the US and UK.

12 November 2020

English court sanctions ED&F Man’s scheme

An English court has sanctioned a scheme of arrangement for international commodity trader ED&F Man, paving the way for it to restructure debts governed by English and New York law.

09 September 2020

Creditors approve ED&F Man’s UK scheme

International commodity trader ED&F Man has secured unanimous backing for its UK scheme of arrangement during two creditors’ meetings.

02 September 2020

Clifford Chance, A&O and Akin Gump advising on commodity trader’s UK scheme

An international commodity trader has secured court approval to convene meetings for its creditors to vote on a UK scheme of arrangement, with Clifford Chance, A&O and Akin Gump taking roles.

11 August 2020

Weil partner moves to Shearman & Sterling in London

Shearman & Sterling has hired Weil Gotshal & Manges partner Alex Wood in London, as firms around the globe continue to prepare for a coronavirus-induced wave of restructurings.

17 July 2020

Changes for financial institutions in Ukraine’s restructuring and recoveries market

Until recently Ukraine has been known as a high-risk country, provoking creditors’ fears of being caught up in a default with zero prospect of recovery. But Iryna Kalnytska, head of the restructuring and claims practice at Ukrainian firm GOLAW, says the situation has changed substantially over the past few years with reforms to Ukraine’s Bankruptcy Code and new legislation on creditors’ rights.

13 December 2019

Unpacked: How did they solve a problem like Mriya?

Featured in Unpacked

GRR looks back at the restructuring of Ukrainian farming conglomerate Mriya: how counsel got it across the line against a backdrop of more than US$1 billion in debt, expiring land leases, a former owner accused of embezzlement, a convoluted corporate structure spread across Ukraine and Cyprus, and – in its darkest hours – armed men in fields trying to seize assets by force.

17 May 2019

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