Sayenko Kharenko arbitration team has successfully represented a leading German bank in the recognition and enforcement proceedings in Ukraine regarding a EUR 12 million arbitral award issued by the arbitral tribunal acting under the ICC Rules.
The ICC arbitral award, issued in favour of the bank, ordered a holding company belonging to one of Ukraine’s largest agricultural groups to repay a significant debt. The case involved complex cross-border legal issues, including establishing the jurisdiction of Ukrainian courts for a non-Ukrainian debtor, parallel recognition and enforcement proceedings in other jurisdictions, and setting aside proceedings at the place of arbitration. These issues highlighted the challenges of multi-jurisdictional enforcement of arbitral awards.
Sayenko Kharenko team acted for the bank at the Kyiv Court of Appeal as the first instance court, which granted the bank’s application for recognition and enforcement of the ICC arbitral award. Following an appeal by the debtor, Sayenko Kharenko also represented the bank at the Supreme Court, which dismissed the debtor’s appeal and upheld the first instance judgment.
In this project, Sayenko Kharenko lawyers collaborated closely with the bank’s in-house legal department, which was essential in achieving this favourable and expedient result. Sayenko Kharenko team included Olexander Droug, Alina Danyleiko and Maksym Melnyk.
