With offices in Kyiv and Dnipro, Absolute Law Agency has an established bankruptcy practice with the focus on representation of lenders – commercial banks and financial companies. The firm represented financial company Aikyu in supporting the bankruptcy procedure of PJSC Dnipropetrovsk Plant of Mineral Fertilizers; acted for PJSC with Foreign Investments Slobozhanska Construction Ceramics in course of the bankruptcy of SBK Progress that is subject to a liquidation procedure; State Enterprise Production Association Yuzhny Machine-Building Plant named after A.M. Makarov in the course of bankruptcy procedure of Zars LLLC. Oleksandr Bondarchuk and Oleksandr Hladii are the main contacts.

The full-circle bankruptcy practice of Alekseev, Boyarchukov and Partners is one of the firm’s  core strengths. With a client roster of commercial banks and financial companies, the firm is enlisted for their representations in terms of bankruptcy proceedings of local corporate debtors, debt recovery litigation and supports liquidation procedures. The team also often supports insolvency procedures on the side of insolvency officials. Among hallmark representations were Investohills Vesta as a creditor in bankruptcy cases involving Rosava, a vehicle tire manufacturer; acting for Alfa-Bank as a creditor in the bankruptcy of Gadyachsyr LLC, support in control of a property allocation procedure; defending the creditor rights of Private Joint Stock Company Kramatorsk Heavy Duty Machine Tool Building Plant in connection with the bankruptcy of Energomashspetsstal, the largest Ukrainian manufacturer of special cast and forged products of piece-work and full-scale production for metallurgy, shipbuilding, power industry and general engineering. Sergey Boyarchukov, managing partner, is a well-known practitioner in Ukrainian insolvency circles.

Known for its participation in resonant insolvency cases, ARIO Law Firm possesses a versatile bankruptcy practice team that represents both creditors and debtors, handling liquidation procedures and resolving arising criminal aspects within its practice. Its complicated bankruptcy projects often involve corporate conflicts and raider attacks. In 2021 the firm continued supporting the liquidation procedure in the resonant bankruptcy of the Ocean Shipyard in Mykolaiv; represents PJSC Kyivreconstruction in an insolvency procedure initiated after illegal alienation of its property; represented Kyiv-based Lybid Hotel as a debtor. The firm also handles pro bono advisory on the bankruptcy of individuals. The firm regularly acts in litigation within complex bankruptcy proceedings, recognition of creditors’ claims, development of restructuring plans and amicable settlements, financial rehabilitation. The firm’s criminal practice acts regularly across violations within bankruptcy procedure. The practice is led by firm’s partners – Iryna Serbin, Oleksii Voronko, and Ruslan Sydorovych. Renowned legal professional Julian Khorunzhyi is highly-regarded in this area and shifted his focus to the firm’s fast-growing corporate practice.

Having a presence in the largest financial restructurings and M&A deals in Ukraine, AVELLUM provides support to its clients in subsequent disputes, including creditors’ claims against Ukrainian companies undergoing bankruptcy proceedings. The team handles assistance in the appointment of foreign courts of a receiver for foreign holding companies within a bankruptcy procedure or beyond its realms, as well as support for the activity of such receivers in Ukraine. The team also advises on the Ukrainian law aspects of cross-border insolvency. Andriy Fortunenko is present in project work. Vadim Medvedev is lead partner.

CMS Cameron McKenna Nabarro Olswang is the port of call for solid international companies facing the need for representation in the course of bankruptcy proceedings of Ukrainians debtors. This past year the office acted principally for creditors, international banks on insolvency proceedings and recovery of outstanding debts. Olga Shenk was promoted to partner in the commercial, regulatory and disputes practice group in the Kyiv office.

Ukrainian dispute resolution heavyweight EQUITY is highly-experienced in dealing with distressed assets. The firm possesses a strong track record in insolvency litigation, banking resolution, non-performing loans (NPLs). The firm is a long-standing legal counsel for large industrial-financial groups, financial companies, and accompanied high-profile bankruptcies in various sectors of the economy with the participation of leaders of the banking sector in Ukraine. The team represents Finance Company Investohills Vesta, one of the largest finance companies in Ukraine, in litigation on the enforcement of NPLs purchased from large Ukrainian banks, including Delta Bank, Bank Finance & Credit and Petrocommerce Bank (for a total of around USD 424 million), acting on the foreclosure of the pledged and mortgaged property in court proceedings and out-of-court enforcement, as well as in the insolvency proceedings of debtor companies. EQUITY has a consistent practice of supporting the interests of debtors in the course of their bankruptcies, for example, Belvedere Ukraine and Wholesale Network 2011 (Optova merezha). The team set new precedents in insolvency matters, when the Supreme Court of Ukraine confirmed that the National Bank of Ukraine had unlawfully declared one Ukrainian bank insolvent. In 2021 the firm continued representing PJSC UkrIncom (formerly UkrInBank) in a dispute with the NBU in connection with the resumption of the bank’s activities in Ukraine and loans recovery in favor of the bank’s shareholders. Another long-lasting case is representing Azovmash Group – the largest engineering and manufacturing enterprise of Ukraine – on the restructuring of USD 850 million debt towards 10 banks and represented two group companies in insolvency proceedings initiated by creditors. Partner Oleh Malinevskyi, one of the strongest Ukrainian litigators, heads the practice. Serhiy Chuyev, partner, co-head of litigation, is another key partner, guiding the team. The senior team includes Dmytro Tylipskyi, Andriy Ivaniv and Olexiy Stepanenko.

GOLAW assists with debt restructuring, debt recovery, assignment of claims and receivables. The team provided  comprehensive legal support and represented the interests of the creditor Export Guarantee and Insurance Corporation of the Czech Republic (EGAP), which acquires receivables from Česká Exportní Banka in the case on the bankruptcy of debtor Artemivskyi Zavod Sklovyrobiv. Iryna Kalnytska is lead partner.

Gramatskiy & Partners has a well-versed expertise in litigation work in bankruptcy procedures, acting for creditors, shareholders and insolvency officers. The firm supports creditors’ claims, liquidation procedures, sanation (financial rehabilitation), amicable settlements as well as post-procedure disputes. The firm represented the interests of Legion Smart LLC in the course of the bankruptcy procedure of PJSC Kryvyi Rih Heating Plant, and advised on protecting the rights of creditors as the debtor undergoes the privatization procedure. The firm’s dispute highlight is representing VPG Agro Plus LLC in a precedent case appealing decisions regarding bankruptcy of the Vorzel resort belonging to the National Academy of Sciences of Ukraine. Experienced generalist and litigator Andrii Trembich is the practice head.

Ukrainian dispute resolution powerhouse Ilyashev & Partners has a strong standalone bankruptcy practice, ensuring representation of debtors, creditors and insolvency practitioners. The firm is a primary point of choice for large-scale complex bankruptcies with a significant number of foreign creditors, and traditionally has an extensive presence in cross-border insolvency projects. The firm continues to represent Indumet Limited, Indumet SA on the bankruptcy of Alchevsk Iron and Steel Works, Alchevsk By-Product Coke Plant and the Industrial Union of Donbas (ISD) Corporation. The practice team has an established track record of representing distressed industrial debtors and state enterprises in the course of their bankruptcies. In particular, the firm supports bankruptcies of the Kremenchuk Automobile Plant (AvtoKrAZ), Salute Hotel, Creative Group, a Ukrainian integrated agro-industrial company, Sumykhimprom, a core company of the Ukrainian chemical industry involved in producing phosphoric mineral fertilizers, Feodosiya Shipbuilding Company Morye, and other companies. The client roster that consists of major commercial banks ensures instructions for representing the interests of creditors. The practice is led by renown litigator and senior partner Roman Marchenko. Vadym Kizlenko and Andriy Konoplya demonstrate their long-term commitment to the practice.

Khomenko, Pita & Partners, a domestic bankruptcy boutique, is well-known for the expertise it has acquired in supporting the bankruptcies of state-owned companies, and present portfolio of complex bankruptcy cases in the corporate sector. Projects emanate from a range of sectors, such as real estate, agrarian business and infrastructure, energy, shipping and transportation, energy and mining, hospitality. Recent services offered include assistance with crisis management. Oleksandr Khomenko is a versatile bankruptcy and insolvency practitioner.

Renowned for handling debt recovery and collection disputes, LCF Law Group runs a solid bankruptcy practice representing creditors, debtors and liquidators. The team also provides representation in insolvency litigation and assignment of creditors’ claims. The firm represented AVK Confectionery as a debtor in the course of its bankruptcy case; TNT Express Worldwide as an originating creditor in initiating a bankruptcy proceeding; represents Ovostar Union in recovering a property complex acquired from a bankrupt party. The team also represented the administrator of Mykolaiv Shipyard Ocean in insolvency proceedings. The team contributes further with making changes to key bankruptcy and litigation regulations and the governing framework. Renowned in the community of insolvency practitioners and an active litigator, partner Olena Volianska heads the practice. Denys Sperov, counsel, head of the enforcement of court judgements and asset discovery practice, is another key figure.

L.I. Group is a Ukrainian boutique firm focused on debt recovery and bankruptcy proceedings. The firm is mostly known for acting on behalf of creditors, having a range of banks and financial companies on its clients list, and rapidly extended its debtors clients, particularly big domestic industrial enterprises, agrarian and energy companies. Much of its recent focus was centred on developing financial rehabilitation plans for debtor companies – out-of-court sanation. The practice has two partners on board – Artur Megeria and Mykola Kovalchuk.

Sokolovskyi & Partners has a well-recognized practice supporting bankruptcy proceedings and handling liability crisis management. The team supports the entire insolvency process, including restoration of solvency, control over alienation of assets, liquidation procedures. Insolvency disputes are another area of focus. The firm acts for both creditors and debtors, and supported a number of proceedings over this past year. The practice is headed by the firm’s counsel, Ivan Balytskyi.