AEQUO has successfully defended interests of ProCredit Bank in a precedent-setting dispute over the loan commitment.
The Supreme Court decided in favor of the Bank, upholding the lawful decision of the court of appeal. The complexity of the dispute was that the opponent claimed Bank to issue a loan based on the concluded loan agreement. In refusing to satisfy the claim, the courts took into account AEQUO's arguments that failure to complete the identification and verification procedures is a ground for refusal to issue funds even if there is a concluded agreement.
AEQUO project team included counsel Olena Pertsova, attorney-at-law Sergey Oleksin and associate Vadym Maistruk who worked under the supervision of Yulia Kyrpa, partner and head of Banking and Finance.
AEQUO team, together with the Bank's lawyers, developed an effective defense strategy and represented ProCredit Bank before the courts of appeal and cassation.
“We are delighted with the result. The most important things in this dispute are the development of proper litigation practice in favor of banks and the minimization of future abuse by borrowers. AEQUO has once again demonstrated its willingness to accept challenges and readiness to defend its clients in the most complex disputes”, comments Yulia Kyrpa.