In today’s realities, there often arise situations where debtors cannot fulfill their obligations for reasons one way or another related to the war. In addition, many enterprises are located in the temporarily occupied territory, and their owners do not have access to enterprises at all. In such a case, unfortunately, applying to the debtor with a claim is not always an effective option for protecting the creditor’s rights.

Contents

1. Commencing proceedings
2. Avoidance actions
3. Claims against directors, officers and shareholders 
4. Creditor actions and strategic considerations
5. Pre-insolvency debtor claims
6. Other claims
7. Cross-border proceedings 
8. Remedies and enforcement 
9. Settlement and mediation 
10. Update and trends

01 — Commencing proceedings

Litigation climate

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Contents

Зміст

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Today Ukraine continues to undergo the reform of the bankruptcy system, aimed at improving the business environment and increasing the investment attractiveness of the country. The bankruptcy proceeding seems like a major challenge for a creditor, as it is usually a tedious and time-consuming process. In order to speed it up and make it more efficient, the Bankruptcy Code of Ukraine was adopted in 2019 (hereinafter — the “Code”). One of the objectives of the Code is to satisfy creditors’ claims. But it also aims to protect debtors’ rights.