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GOLAW has successfully defended the interests of Ukrsotsbank, one of the largest banks in Ukraine, in a credit dispute over the obligations under a surety agreement.
In accordance with the decision of the court of first instance, the Primorsky District Court of Odesa, the claim of the property guarantor to the bank concerning the termination of the surety was satisfied. At the Court of Appeals of the Odessa region, GOLAW attorneys managed to prove their position on the lack of any legal basis for termination of obligations under the suretyship agreement.
As a result, the previous decision was overturned. This ruling allowed the bank to renew the right to reclaim the credit debt.
Thus, the Court of Appeals resumed legal relations, on the basis of which the guarantor is obliged to the bank to be jointly responsible for the fulfillment by the borrower’s obligations under the loan agreement in full.
Ukrsotsbank is one of the largest universal banks of Ukraine, which has been operating since 1990 and offers a full range of modern services to both individual and corporate clients. Ukrsotsbank has been part of the international banking group ABH Holdings S.A. since 2016.
GOLAW is an international full-service law firm that was founded in 2003 and currently has offices in Kyiv, Odesa (Ukraine) and Berlin (Germany). The firm provides sophisticated legal advice and reliable legal assistance in all major sectors, including agribusiness, retail and FMCG, healthcare and pharmaceuticals, financial services, energy and natural resources, transportation and infrastructure, internet technology, and real estate.
The firm’s client portfolio includes large and medium-sized businesses, national and foreign companies, banks and financial institutions, as well as private investors doing business in Ukraine or entering local markets.
The firm has been recognised by several prestigious international and Ukrainian rankings, such as The Legal 500, Chambers & Partners, IFLR 1000, Best Lawyers, Legal Awards and has been ranked among TOP 10 Leading Law Firms in Ukraine.