EQUITY is a legal advisor of NEST Corporation regarding debt collection by Alfa-Bank

EQUITY represented interests of NEST Corporation in disputes with Alfa-Bank PJSC and the Bank of Cyprus over collection of problem debt in the total amount of 75 million dollars.

The client concluded two loan agreements with the Bank of Cyprus in the total amount of 65 million US dollars. A number of mortgage agreements under which several property items were mortgaged in Kyiv were concluded to secure the loan. The legal actions included 15 lawsuits including appeals against resolutions passed by the general meeting of the client filed by Alfa-Bank, issuance of a permit to enforce a judgment of a foreign court in the territory of Ukraine, invalidation of agreements, bankruptcy, etc. The total amount recovered in all proceedings was around 75 million US dollars.

As a result of the work performed by EQUITY lawyers, the client managed to work out a compromise with Alfa-Bank PJSC and settle the dispute with Alfa-Bank PJSC amicably on mutually beneficial conditions.

EQUITY team made up of partner Serhiy Chuyev and senior lawyer Oleksiy Stepanenko worked on the project.