Regional news: Ukraine

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

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

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 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

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

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 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

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

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

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