PHENOMENA, LLC

Leonardo Business Centre, 11th Floor

19-21 Bohdana Khmelnytskoho Street

Kyiv, 01030, Ukraine

Telephone: +380 (44) 359-0444

Fax: +380 (44) 359-0455

Email: office@phenomenalaw.com

DEBT RESTRUCTURING / INSOLVENCY

DEBT RESTRUCTURING / INSOLVENCY

The financial crisis of 2008 and economic turmoil that began in Ukraine in 2014 triggered a great number of debt restructuring and insolvency processes in Ukraine. PHENOMENA’s lawyers, having an in-depth knowledge of the relevant legal framework and possessing excellent negotiating and organizational skills, proved to be highly effective in representing the clients in connection with debt restructuring and insolvency matters. For instance, our lawyers’ experience includes advising a group of 28 international lenders (including BNP Paribas, Cargill Financial Services International Inc., European Bank for Reconstruction and Development, ING Belgium NV/SA, UniCredit Bank Austria AG et al.) in restructuring of approximately US$400 million international indebtedness of Ukrainian bank Kreditprombank.

We advise local and foreign, state and privately held clients which include creditors, debtors (banks, financial institutions, industrial groups, agricultural companies, etc.) and financial advisors. Our services include:

  • participation in restructuring negotiations;
  • drafting all kinds of restructuring documents;
  • engagement in all stages of insolvency proceedings;
  • corporate restructurings; and
  • advising on all aspects (regulatory approvals, currency control restrictions, security related issues, contractual relations, etc.) of debt restructuring and insolvency matters.

PHENOMENA’s recent experience in Debt Restructuring / Insolvency area includes the following transactions:

  • restructuring of US$26.7 million credit facility provided by Amsterdam Trade Bank N.V. to Singapore borrower operating in oil and gas sector and secured by mortgages, pledges and suretyships granted by Ukrainian security providers controlled by the borrower;
  • restructuring of US$50 million debt of an international chemical corporation having assets in Ukraine;
  • rescheduling of a repayment term under US$20 million loan agreement between Amsterdam Trade Bank N.V. (as lender) and one of the largest Ukrainian manufacturers of metal parts for power industry, shipbuilding and metal industry (as borrower); and
  • representing a Dutch-based lender in connection with restructuring of US$30 million financial indebtedness of a major steel products trader.