TARGET Supermarket – Selepey, Volkovetsky & Partners

TARGET Supermarket

Legal mopping-up and development of a supermarket in Kharkiv

Our Client

A private investor who acquired from JSC VTB Bank the rights to problem debt in the amount of USD 78 million.


Since 2014, our firm has represented the interests of an investor who acquired from VTB-Bank the right to collect a debt of USD 78 million from the regional retail chain “Target”. The debt was secured against seven real estate objects in Kharkiv, including a supermarket on Gagarin Avenue. VTB-Bank had previously been unable to collect the debt and recover the real estate from the debtor who had also managed to illegally transfer the mortgaged assets to related legal entities.

Asset Stress

Bad debt

The bank had failed to collect a debt of USD 78 million

Illegal divestment of mortgaged assets

The debtor resold the assets several times free of charge and burdened it with a new mortgage

Inefficient use

Due to legal stress and poor management, the economic potential of the property was not fully exploited

Client Outcomes

SVP lawyers investigated the full chain of supermarket building title transfers, gathered evidential proof, developed and implemented a winning strategy for the project. We proved that our client is the legal owner of the mortgage rights for the above mentioned asset. Thanks to a unique combination of legal, investment and development competencies, we brought the previously distressed asset into compliance with market requirements.


This successful project is an example of how our firm’s innovative approach creates added value for our clients, and reflects the social mission of SVP — to promote the economic revival of Ukraine by revitalizing legally distressed assets.

Asset Revitalization

Added Value Delivered:

  • The whole building is leased, the economic potential is fully used.
  • The modern concept of planning is applied in the store.
  • A long-term lease agreement has been concluded with a leading Ukrainian retailer.
  • The design of the supermarket on Gagarin Avenue was included in the list of the 25 best innovative designs of European stores in 2019.

The Next Project

Legal “reanimation” of Drogobych truck crane plant

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