Liquidation manager in this case refused offset a portion of bank’s claims as votes at creditors meetings which resulted in significant restriction of the bank’s rights. Despite the explicit violation of the law, the court of first instance dismissed the Bank’s complaint against liquidator’s actions. ALEXANDROV&PARTNERS successfully appealed against this decision in the court of appeal.

After the trial, the Kyiv Commercial Court of Appeal upheld the appeal in full and obligated the liquidation manager to offset the bank’s claims in the course of setting up representative bodies of debtor’s creditors.