Legal support for a client during a debtor’s bankruptcy procedure and the recovery of accumulated debt
Our client, the leading agricultural enterprise, contacted Kachkin & Partners experts for help in recovering a substantial amount of debt that another agricultural enterprise had managed to accumulate and find itself owing to our client. The entire amount of financial claims totalled more than EURO 700 000. Per our client’s request, Kachkin & Partners attorneys filed a statement of claim seeking declaration of the debtor’s bankruptcy and, as a result of the attorneys’ persistent efforts, a portion of the debt was discharged even prior to the introduction of supervisory procedures. As a consequence, the debtor was taken under supervision, and the remaining amount of debt was included in the register of creditor claims against the debtor. In the course of supervisory procedures, the Kachkin & Partners team managed to secure the court’s rejection of the inclusion in the register of debt to a number of creditors, thereby significantly increasing the likelihood of the full satisfaction of our client’s claims upon the conclusion of bankruptcy procedures. Based on the outcome of the first creditors’ meeting, at which our client had the voting majority, receivership proceedings were initiated against the debtor, and the court approved our client’s nominee for receiver. Receivership proceedings are currently underway, and Kachkin & Partners attorneys are handling the upcoming sale of the agricultural enterprise’s assets.