The Superior Commercial Court of Ukraine considered the bankruptcy case against Ukrainian “Upstar Continental Ukraine” LLC, who guaranteed the fulfillment of obligations upon the facility agreements concluded between English company and Latvian assets management company Reverta JSC. The cassation instance court revised first instance court’s ruling according to which creditor’s claims of Reverta JSC were withdrawn from the creditors list and the liquidation balance of the bankrupt was approved. In the court case English and Latvian Laws were applied additionally to the Ukrainian legislation.
The cassation instance court upheld Reverta JSC’s position, addressing that its claims were illegally withdrawn from the creditors list, and sent the case to the first instance court for a new liquidation proceedings with due consideration of Reverta JSC’s claims.
Members of Aequo Dispute Resolution team, attorney at law Yevgen Levitskyi, attorney at law Myroslava Savchuk under the supervising of council Pavlo Byelousov, workedon the case.