Regional news: Ukraine

English court upholds freezing order against directors of Ukrainian grain group

The owners of Ukrainian grain terminal operator GNT Group have failed to overturn a worldwide freezing order issued against them by an English court last year at the request of security trustee Madison Pacific Trust, which is pursuing enforcement action against the pair in the UK, Ukraine, Cyprus, Switzerland and Dubai.

12 February 2024

Rosling King partner-backed asset recovery firm loses bank suit on jurisdiction grounds

An asset recovery firm linked to partners at UK law firm Rosling King and Ukraine’s Gotovska & Partners, which purchased claims from a bankrupt Ukrainian bank, has failed in its bid to pursue an embezzlement suit against the bank’s billionaire indirect owner in London.

01 February 2024

Naftogaz locks in bond deferral deals with Cleary and Hogan Lovells for creditors

Ukraine’s state-owned natural gas group Naftogaz has secured the support of holders of its 2022 and 2026 Eurobonds to defer repayments, nearly a year after it reached a similar deal with holders of its Eurobonds due in 2024.

01 August 2023

Ch15 round-up: Ukrainian bank liquidator wins recognition in Florida

A Canadian fuel company has sought recognition of its domestic insolvency proceedings in Florida, while the representatives of a Ukrainian bank, the trustee of a New Zealand family trust and a Brazilian oil drilling group have secured Chapter 15 orders in Florida, Kentucky and New York.

05 May 2023

Ukraine can defend Russia bond default, UK Supreme Court rules

The UK’s highest court has ruled that Ukraine can defend its non-payment of a US$3 billion Eurobond debt to Russia at a full trial, after finding it has an arguable and justiciable defence of duress.

15 March 2023

BVI appeal court repeals receivership order for sanctioned VTB Bank

The Eastern Caribbean Court of Appeal has set aside a receivership order put in place on behalf of sanctioned Russian bank VTB, finding that the repeal in itself would not contravene international sanctions.

15 February 2023

Hogan Lovells advising as US investors' agent pursues Ukrainian grain terminal bankruptcy

Hogan Lovells is advising a security trustee that has filed a bankruptcy petition against a Ukrainian grain terminal operator on behalf of a pair of US investors, after successfully obtaining a worldwide freezing order from an English court against its owners last month.

13 February 2023

VEON secures sanction of English scheme

Netherlands-incorporated telecoms company VEON has secured sanction of an English scheme to extend two sets of notes while it tries to sell a wholly owned Russian subsidiary.

30 January 2023

English scheme convened for solvent Dutch telecoms company facing sanctions dilemma

A solvent Netherlands-based telecommunications company has obtained permission to hold scheme meetings in England, despite objections that its creditors should be split into four classes, as it buys time to pursue the sale of a Russian subsidiary and regain entry to international capital markets.

22 December 2022

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

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