Livestock complex
UAH 4.5 billion debt restructuring for “Liga” Company
Our Client
Estelle Ventures Ltd (Great Britain)
Challenge
The foreign enterprise “Liga” is the owner of the leading commercial and genetic farm of the Kirovohrad region, which is included in the TOP-15 pig farms of Ukraine. Our client intended to be an investor within the bankruptcy case of “Liga” in order to reorganize and restore its solvency and to receive the income from business activities.
Asset Stress
Until 2015, "Creative" was one of the largest agricultural holdings in Ukraine
The bankruptcy procedure was started in March 2019
Among the demands were the claims of the state bank for about UAH 4.25 billion, secured by a mortgage and pledge of a pig farm
Client Outcomes
The result of the two-year SVP work (which included, in particular, negotiations with the bank, other creditors and the debtor, the development of legal mechanisms for the financial rehabilitation of the enterprise and the satisfaction of creditors’ demands, the preparation of a rehabilitation plan, etc.) was the acceptance by the creditors and the court approval of the rehabilitation plan in the case of the bankruptcy “Liga”, the implementation of which is currently successfully underway.
As a result, the creditors receive stable repayment of debts, and the investor is able to develop the enterprise and to ensure its full-fledged operation.
Review
“The result speaks for itself. “Selepey, Volkovetsky and Partners” developed and implemented a high-quality rehabilitation concept, conducted difficult negotiations with the state bank at a high level, and also professionally resolved all issues related to the legal component of the project. I am completely satisfied with our cooperation.”
Oleksandr Bakaiev — CEO and owner, Estelle Ventures Ltd
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