LEGAL COLLECTION AND ARBITRATION IN UKRAINE
Legal collection is advised only if amicable collection proved to be unsuccessful.
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 (contract with debtor, invoices, delivery notes, etc.) should be available in hard copies.
Ukrainian jurisdiction should apply. It applies when it is directly mentioned in contract or it is not mentioned at all.
Debtor’s solvency should be checked via credit report or due diligence to ensure debtor’s funds/assets are enough to cover the debt.
Legal collection is effective only for debts over $50 000 and whether it is proven debtor has enough assets.
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
• search alternative evidences to support claim
• assist creditor in paying court fees
• prepare and submit written
• claim seizure of property before court
• visit court sittings, supporting creditor’s claims
• receive, translate and certify court decision
• receive writ of execution
• support and consult creditor regarding local laws and procedures
HOW LONG IT TAKES?
Average time to receive commercial court decision is 3 months from the date of writ submission.
Average time to receive decision of Ukrainian International Commercial Arbitration Court of Chamber of Trade and Commerce is 1.5 months.
WHAT THE FEES ARE?
The fees consist of legal fees paid to GCS Ukraine attorneys and court fees.
Legal fees of GCS Ukraine depend on case complexity and consists of retainer and normal success fee like for amicable collection.
Retainer makes from $200 to $5000. It includes all administrative expenses (e.g. translations, certifications).
To learn success fee for your debt, please download our price list.
Legal fees paid to GCS Ukraine are deducted from success fee paid upon debt recovery.
Court fees depend on jurisdiction type:
Whether jurisdiction is general and case is considered by commercial court, the fee is 1.5% of the claim amount, but not less than $70 and no more than $9500.
Whether case is considered by Ukrainian International Commercial Arbitration Court the fees start from $1800 for debts below $10,000 and increases along with amount of claim.
The details may be found on ICAC website.
WHY GCS UKRAINE?
• we always assess probability of success before going legal
• we always tell truth if case has no prospects
• we deduct retainer from success fee upon debt recovery
HOW TO SEND CASE?
• Contact our manager providing copies of documents proving the debt to get quote.
• Sign our legal collection 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.