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Eterna Law

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Almaty, Kiev, Moscow

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AstapovLawyers advises on the major banking transaction in Ukraine

November 2009

AstapovLawyers International Law Group advises RODOVID BANK on a highly publicised transaction of transferring the deposits and selected assets of UKRPROMBANK to RODOVID. 

AstapovLawyers advises RODOVID BANK on a highlypublicised transaction of transferring the deposits and selected assets ofUKRPROMBANK to RODOVID. This decision was taken by joint Decree of the NationalBank of Ukraine and Cabinet of Ministers to ensure full and prompt repayment ofabout 7 bln. hrivna of deposits of physical persons held by distressedUKRPROMBANK. 

This unusual and at the same time landmark transaction is a sign of recovery ofUkrainian Banking system severely hit by the crisis. Also it shows active roleof the Government of Ukraine in preventing far reaching social impact of banks’insolvency.

In addition to regular banking work, AstapovLawyers’banking and finance team led by Partners Ms. Tatiana Kuzmenko
and Mr. Oleh Malskyy has gained unique experience inhandling bank recapitalisation transactions, foreign loan restructuringtransactions and other types of post- crisis legal work which they successfullyapplied to the present project.

AstapovLawyers assisted RODOVID BANKsince early times of its recapitalisation by the Government of Ukraine andtransformation of it into healthy and developing Ukrainian financialinstitution. Our services in this regard included restructuring of foreign loanportfolio, advice on recapitalisation and general banking and regulatory legalsupport. This historic project has been personally coordinated by Firm’sManaging Partner, Mr. Andrey Astapov
.The loan restructuring part of the project has been handled together withDRAGON CAPITAL, a leading Ukrainian investment bank.

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