Regional news: Ukraine

Freshfields advising Naftogaz as one tranche of bondholders agrees deferral deal

Freshfields Bruckhaus Deringer has advised Ukrainian state-owned natural gas company Naftogaz on a deal reached with one tranche of Eurobond holders to defer repayments for two years – but negotiations with two more tranches are ongoing.

05 September 2022

Weil, White & Case advise on Ukraine sovereign debt deal

UPDATED: White & Case advised the Ukrainian government on a sovereign debt restructuring deal it reached with certain GDP warrant and bondholders last week, with Weil on the side of larger creditors.

15 August 2022

GRR Live, Women in Restructuring: is it 2007 all over again?

A 50% chance of a “shallow” recession next year, or 2007 all over again? Leading women in restructuring came together at GRR’s first live event in two and a half years to debate what lies ahead for practitioners and clients, amid skyrocketing inflation, post-covid supply chain issues and war in Europe.

10 June 2022

Ukrainian bank declared insolvent

Ukraine’s banking regulator has declared Kharkiv-based Megabank insolvent for failing to comply with Ukrainian laws and regulations, rejecting claims that its problems were caused by Russia’s military aggression.

07 June 2022

Russia’s VTB seeks English administration, requires OFAC licence

A UK-registered affiliate of Russia’s VTB Bank has applied for administration in England as a result of Western sanctions on Russia – but it must obtain a licence from the US Office of Foreign Asset Controls before an order can be made.

06 April 2022

Ogier ordered to stay on as counsel to sanctioned Russian bank after raising concerns

Offshore firm Ogier has been prevented from coming off the record as counsel to Russia’s VTB Bank, as a British Virgin Islands court declined to discharge local receivers appointed for the sanctioned bank's benefit, while permitting them to take no further actions in fulfilment of their role.

24 March 2022

BVI court to consider impact of Russia sanctions on receivership

A British Virgin Islands court is gearing up to consider the impact of Russia sanctions on receivers appointed over a local entity for the benefit of Russia’s VTB Bank, which is seeking to enforce a US$30 million judgment debt against a Ukrainian businessman and politician.

15 March 2022

English court recognises Ukrainian banker’s insolvency, issues bankruptcy order

After finding a banker with an “international lifestyle” had his centre of main interests in Ukraine when he initiated insolvency proceedings there in 2019, an English court has granted recognition to the trustee of his estate and made a separate bankruptcy order against him in the UK.

29 September 2021

Ukrainian trustee seeks UK recognition amid fraud suit

A bankruptcy trustee appointed over a Ukrainian banker’s assets in Kiev is seeking recognition in the UK, where the debtor is facing a separate bankruptcy petition and litigation over fraud allegations.

21 September 2021

Stephenson Harwood hires former A&O partner in London

A year after retiring from Allen & Overy, cross-border restructuring specialist Tim Crocker has joined Stephenson Harwood’s London office in what the firm has described as “a real coup”.

14 September 2021

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