EQUITY lawyers have substantiated the refusal to initiate proceedings over the bankruptcy of Poltavkhimmash PJSC on the grounds of “a dispute over a right” and no signs of insolvency of the debtor.

The Commercial Court of Cassation sided with the debtor in the case of bankruptcy of Poltavhimmash PJSC and upheld the decisions of lower instances to refuse to initiate proceedings over the bankruptcy of Poltavkhimmash PJSC.

EQUITY lawyers substantiated the refusal to initiate bankruptcy proceedings on the following grounds: (1) the initiating creditor and the debtor had “a dispute over a right’ (2) the debtor did not meet the legislative definition of a legal entity that is unable to perform its monetary obligations to the creditor other than though respective bankruptcy procedures.

The Commercial Court of Cassation came to the following legal conclusions:

The EQUITY team made up of partner Oleg Malinevskyi, counsels Dmytro Tylipskyi and Oleksiy Stepanenko, defence lawyer Yaroslav Labatiuk, and junior associate Oleksiy Kobal have been working on the project of protecting interests of Azovmash Group.

EQUITY team continues contributing into development of new approaches in the field of bankruptcy and restructuring of problem indebtness!