AEQUO advised JSCB Industrialbank in the course of restructuring of UAH 410 million indebtedness under the loan granted to the Ukrainian borrower – Bestment-Service LLC – and secured by the mortgage of Plazma Shopping and Entertainment Centre.

It was the first-ever financial restructuring involving a commercial bank and implemented according to the Law of Ukraine “On Financial Restructuring”, a special legislative act on voluntary debt restructuring in Ukraine adopted in 2016.

AEQUO’s team assisted Industrialbank in negotiating the terms of restructuring, prepared the restructuring documentation, including the restructuring plan, as well as supported the lender in the course of the transaction completion. Following completion of the transaction and based on experience gained while advising the client, AEQUO provided the Secretariat (a body established for providing organizational and administrative support of the financial restructuring), with its recommendations on further improvement of the restructuring procedures.

AEQUO project team was supervised by partner Yulia Kyrpa, head of Banking and Finance, and included senior associate Denys Kulgavyi and associate Valeriy Savva.