Ekaterina represents clients in complex commercial disputes in Russian state courts, including the Supreme Court of the Russian Federation.
Ekaterina has significant experience protecting clients in bankruptcy cases, including disputes on subsidiary liability, challenging transactions, having claims included in the register, and challenging the results of meetings of creditors.
The organisations managed by Ekaterina include agro-industrial holdings, shopping and business centres, a large retailer selling smartphones and electronics, and a jewellery manufacturer.
Projects:
Domestic Litigation
Successfully defending a foreign bank in a dispute over debt collection on commodity swaps worth more than RUB 1.3bn. The opponents filed counterclaims to invalidate the transactions due to their allegedly speculative nature. However, the team proved the hedging nature of the commodity swaps, despite subsequent force majeure events in the form of a break in logistics chains and a sharp jump in coal prices.
ЧитатьSuccessfully challenging a Russian bank’s transactions designed to increase the authorised capital of subsidiaries in the amount of more than RUB 255bn. When analysing subsequent transactions, it was found that funds from subsidiaries were withdrawn to offshore accounts of the bank’s beneficiaries shortly before the reorganisation. This dispute sets a precedent since, previously, transactions to increase the authorised capital were not challenged on the basis of special provisions of the Russian Bankruptcy Law, and the courts believed that contributing funds to the authorised capital of subsidiaries did not harm companies since the subsidiary shares remain on the balance sheet of the parent structure.
ЧитатьDefending Sibanthracite Group companies in disputes related to improper fulfilment of obligations by a contractor. The contractor developed and supplied the client with unique coal sorting equipment for Russia, and also had to build a hydraulic sorting complex and a mobile modular installation. However, the supplied equipment turned out to be of poor quality, and construction deadlines and technologies were violated, as a result of which the client suffered losses, and the contractor is insisting payment be made.
ЧитатьCorporate and M&A
Insolvency
Defending a leading Russian engineering centre (the client) in a dispute on the application of the receiver of one of the largest EPC contractors in the oil and gas industry (the contractor) challenging payments in favour of a client’s subsidiary (the lessor).
The client had a debt to the contractor of RUB 750m. Instead of paying the debt directly, the contractor instructed the client to pay this amount to the lessor, to whom the contractor owed lease payments.
The receiver of the contractor considered that these payments are preferable under Article 61.3 of the Russian Bankruptcy Law, and also cause harm to the creditors.
Comprehensive support for the bankruptcy of an agro-industrial holding and successfully contesting transactions worth more than RUB 1.2bn. The challenge was complicated by the transit of the received funds through 11 affiliated legal entities, which were ultimately withdrawn in favour of the beneficiary (the purchaser under the transaction). As a result of the consideration of the case, an agreement was concluded on the settlement of 204 mutual claims and disputes, which is one of the largest-scale settlement agreements in Russian judicial practice.
ЧитатьDefending a bank as a current beneficiary against the lowering of the priority of satisfying claims by over RUB 8bn and against the challenging of the guarantee. We proved that the acquisition of corporate control was caused by the security functions of lending, and the guarantee agreement was concluded in the interests of the entire group of companies in order to obtain a loan.
ЧитатьBringing a shadow beneficiary to subsidiary liability in the amount of more than RUB 6bn for the SPA of the debtor’s shares using the company’s funds. There was a difficulty with proof due to the hidden status of the beneficiary, as well as a multi-stage scheme for withdrawing the debtor’s funds to make settlements with the previous owner of the company.
ЧитатьRepresenting the receiver in a bankruptcy case of a house-building plant and repayment of the entire register of creditors’ claims amounting to more than RUB 1.3bn. An asset substitution procedure was carried out as a result of which the shares of the debtor’s subsidiary were acquired by a large developer.
ЧитатьDomestic Litigation
Successfully defending a foreign bank in a dispute over debt collection on commodity swaps worth more than RUB 1.3bn. The opponents filed counterclaims to invalidate the transactions due to their allegedly speculative nature. However, the team proved the hedging nature of the commodity swaps, despite subsequent force majeure events in the form of a break in logistics chains and a sharp jump in coal prices.
ЧитатьSuccessfully challenging a Russian bank’s transactions designed to increase the authorised capital of subsidiaries in the amount of more than RUB 255bn. When analysing subsequent transactions, it was found that funds from subsidiaries were withdrawn to offshore accounts of the bank’s beneficiaries shortly before the reorganisation. This dispute sets a precedent since, previously, transactions to increase the authorised capital were not challenged on the basis of special provisions of the Russian Bankruptcy Law, and the courts believed that contributing funds to the authorised capital of subsidiaries did not harm companies since the subsidiary shares remain on the balance sheet of the parent structure.
ЧитатьDefending Sibanthracite Group companies in disputes related to improper fulfilment of obligations by a contractor. The contractor developed and supplied the client with unique coal sorting equipment for Russia, and also had to build a hydraulic sorting complex and a mobile modular installation. However, the supplied equipment turned out to be of poor quality, and construction deadlines and technologies were violated, as a result of which the client suffered losses, and the contractor is insisting payment be made.
ЧитатьCorporate and M&A
Defending a Finnish company, which owns large shopping centres in St Petersburg, against collecting losses of more than RUB 244m for withdrawing from negotiations on the sale of a shopping centre in favour of the Russian beneficiary, as well as against the challenging of an intra-group transaction for the sale of shares in the company owning the disputed asset due to the lack of permits from the Government Commission.
ЧитатьInsolvency
Defending a leading Russian engineering centre (the client) in a dispute on the application of the receiver of one of the largest EPC contractors in the oil and gas industry (the contractor) challenging payments in favour of a client’s subsidiary (the lessor).
The client had a debt to the contractor of RUB 750m. Instead of paying the debt directly, the contractor instructed the client to pay this amount to the lessor, to whom the contractor owed lease payments.
The receiver of the contractor considered that these payments are preferable under Article 61.3 of the Russian Bankruptcy Law, and also cause harm to the creditors.
Comprehensive support for the bankruptcy of an agro-industrial holding and successfully contesting transactions worth more than RUB 1.2bn. The challenge was complicated by the transit of the received funds through 11 affiliated legal entities, which were ultimately withdrawn in favour of the beneficiary (the purchaser under the transaction). As a result of the consideration of the case, an agreement was concluded on the settlement of 204 mutual claims and disputes, which is one of the largest-scale settlement agreements in Russian judicial practice.
ЧитатьDefending a bank as a current beneficiary against the lowering of the priority of satisfying claims by over RUB 8bn and against the challenging of the guarantee. We proved that the acquisition of corporate control was caused by the security functions of lending, and the guarantee agreement was concluded in the interests of the entire group of companies in order to obtain a loan.
ЧитатьBringing a shadow beneficiary to subsidiary liability in the amount of more than RUB 6bn for the SPA of the debtor’s shares using the company’s funds. There was a difficulty with proof due to the hidden status of the beneficiary, as well as a multi-stage scheme for withdrawing the debtor’s funds to make settlements with the previous owner of the company.
ЧитатьRepresenting the receiver in a bankruptcy case of a house-building plant and repayment of the entire register of creditors’ claims amounting to more than RUB 1.3bn. An asset substitution procedure was carried out as a result of which the shares of the debtor’s subsidiary were acquired by a large developer.
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