EQUITY Successfully Protects Interests of the Corporate Non-State Pension Fund of the National Bank of Ukraine

EQUITY lawyers have successfully defended the interests of the Corporate Non-State Pension Fund of the National Bank of Ukraine in a number of disputes with a member of the company-issuer of securities (bonds) over finding the assignment agreement invalid under the obligations to discharge the debts under the bonds in the amount around UAH 28 mln secured by mortgage of one of the biggest shopping centers in Kharkiv of over 37, 000 square meters.

The Commercial court of Kyiv fully agreed with the position of EQUITY attorneys as to the possibility of assignment of the right under the obligations arising from issuance of the securities (bonds) and impossibility to apply Art. 515 of the CC of Ukraine to the relations in dispute since such obligations are not inseparably related to the personality of the original creditor (bondholder).

At the same time, the court also took into account the attorneys’ arguments regarding the claimant who, being a member of the company, had no right to start a legal action to find the agreement which was made on behalf of the company invalid.

Within another case EQUITY defense lawyers identified and proved the fact of abuse by the claimant of procedural rights by filing with the court several claims with identical subject matter, causes of action and a list of participants. In this regard, the claim was dismissed, seizure on the real estate – the shopping center in Kharkiv – was lifted at the stage of preparatory court proceeding before hearing the appeal against the injunction order.

The EQUITY team made up of partner Oleh Malinevskyi, legal counsel Dmytro Tylipskyi, senior lawyer Yaroslav Labatiuk, and associate Oleksiy Kobal have been working on the project.