Regional news: Ukraine
Names to know in Ukraine
Ukraine’s restructuring and insolvency market is a relatively small field, but that makes for concentrated expertise. Local firms adapted their banking and finance practices to advise on restructurings during the boom of 2015, and non-Ukrainian firms have worked since then to secure international financing for Ukrainian companies.
13 August 2018
Regulatory round-up: Hungary snubs the Model Law
Eastern European regulators have seen a slew of reforms over the last few weeks: Hungary has taken a novel approach to addressing cross-border insolvencies; Azerbaijan has introduced a new framework for resolving banks; and Ukraine’s restructuring regime enacted last year came into force.
20 April 2017
Ukraine’s DTEK agrees deal with banks to finalise double English scheme restructuring
Ukrainian coal miner DTEK has reached an agreement with bank creditors to complement two English schemes of arrangement already approved by bondholders, allowing it to emerge from one of the region’s largest and most complex restructurings.
07 April 2017
UK court finds Ukraine has no defence in US$3bn Russian debt dispute
The High Court of Justice in London has found that Ukraine has no defence for failing to pay debts owed to Russia following a 2013 bond issuance, despite the “deeply troubling” circumstances of the underlying deal.
31 March 2017
Ukraine’s Metinvest completes US$2.3bn restructuring
Ukrainian steelmaker Metinvest has completed the restructuring of US$2.3 billion in debt, drawing to a close negotiations that started in early 2015 and saw the group draft three schemes of arrangement in the UK, with three parallel Chapter 15 filings in the US.
23 March 2017
A family affair: “hopeless” insolvency petition for kitchenware group dismissed
A Hong Kong court has reprimanded a Hungarian businessman for trying to use insolvency law to wrestle control of a global kitchenware business from his cousin, finding his winding-up petition to be without merit on all counts.
06 March 2017
UK court allows creditors' meetings for third Metinvest scheme
Ukranian steelmaker Metinvest has secured permission from an English court to host a creditor vote on what is its third scheme of arrangement for the implementation of a restructuring plan – and has made a parallel US Chapter 15 filing to protect its US assets while the final hurdles are cleared.
18 January 2017
DTEK creditors asked to delay maturity of debt issued under landmark English scheme
A UK court has ordered creditors to Ukrainian miner DTEK to vote on the group’s second scheme of arrangement in less than two years, as it struggles to recover from physical and financial damage caused by ongoing war in its homeland.
06 December 2016
Regulatory roundup: Eastern European update
A host of technical amendments to domestic insolvency laws are on the cards in Ukraine, Serbia and the Czech Republic.
05 December 2016
Russia sues Ukraine in UK over US$3 billion Eurobond default
Russia has hired Cleary Gottlieb Steen & Hamilton to sue Ukraine in a London court, where it is seeking payment of a US$3 billion Eurobond that the eastern European state defaulted on late last year.
01 March 2016