Lavrynovych & Partners Law Firm successfully represented Client’s interests in litigation of the mortgage foreclosure on the three loan agreements amounting USD 1 million.
As a result of the trial the Court of First Instance rejected the bank to foreclose on the mortgaged property. The Kyiv Court of Appeal on March 11, 2014 upheld the decision of the Court of First Instance.
The essence of the dispute is the ability to foreclose on the mortgagee’s real property after the sale of the debtor’s property during the bankruptcy procedure. The Court agreed with the position of Lavrynovych & Partners’ lawyers that the rules of the Law of Ukraine “On Restoring Debtor’s Solvency or Declaring A Debtor Bankrupt” has priority over the Law of Ukraine “On Mortgage” in the bankruptcy litigation.
Legal support of the litigation was provided by Associates Eugene Kolomiyets and Inna Rudnyck under the guidance of Stanislav Skrypnyck, Firm’s Partner.