Bankruptcy in Ukraine
Debt collection in bankruptcy proceedings is possible when company insolvency is officially announced. Creditor’s claim should be filed within 30 days after announcement. This term is final and cannot be prolonged.
Debt should not be over 3 years old. Whether other limitation of actions is mentioned in contract between debtor and creditor, debt should fit that limitation.
All documents (contracts with debtor, invoices, delivery notes, etc.) should be available in hard copies.
HOW IT WORKS?
Attorneys start preparation of the case as soon as all documents confirming the debt, certified POA and retainer are received.
What we do to recover a debt:
organize translation and certification of documents that confirm debt
assist creditor in paying court fees
prepare and submit claim
visit sittings of creditors’ committee, protecting creditor’s interests
liaise with arbitrator or liquidator to facilitate payments
support and consult creditor regarding local laws and procedures
HOW LONG IT TAKES?
Average time for insolvency and bankruptcy proceedings in Ukraine is 2.9 years.
WHAT THE FEES ARE?
The fees consist of legal fees paid to GCS Ukraine attorneys and court fees.
Legal fee of GCS Ukraine makes retainer from $200 to $5000 depending on case complexity. It includes all administrative expenses (e.g. translations, certifications).
Court fee makes $130.
WHY GCS UKRAINE?
we have resources to support case regardless of how long it goes
we always tell truth if case has no prospects
we track and report case progress for creditor
HOW TO SEND CASE?
Contact our manager providing copies of documents proving the debt to get quote.
Sign our contract and POA received from the manager.
Provide certified copies of documents proving the debt and your statutory documents as per instruction received from our manager.
Pay court fees as per instructions received from our manager.