Advocates of Law office «Alliance Ratushnyak and Partners» had finished the work with a project of m

4.10.2010


Advocates of Law office «Alliance Ratushnyak and Partners» had finished the work with a
project of multimillion debt collection arised from construction agreement.
Our client the construction company stopped construction works of the industrial object due to
breach of financial obligation by Investor and due to current multimillion debt. The investor had
delay in payment schedule and ceased all current payments. That’s why it was decided to bring
an action before the ICAC.

Advocates of Law office «Alliance Ratushnyak and Partners» had finished the work with a
project of multimillion debt collection arised from construction agreement.
Our client the construction company stopped construction works of the industrial object due to
breach of financial obligation by Investor and due to current multimillion debt. The investor had
delay in payment schedule and ceased all current payments. That’s why it was decided to bring
an action before the ICAC.
Advocates of Law office «Alliance Ratushnyak and Partners» had prepared all documents
and register the claim against debtor in ICAC. Our advocates received a positive award for our
client and started the procedure of its enforcement.
However, at this stage there were considerable difficulties which were arising by illegal factors.
The court that considered the application about enforcement of ICAC’s award, was situated in
a small town and it was under the influence of the debtor’s company that’s why it became to
delay the process. We filed an appeal and resorted to bodies of judicial oversight and then the
debtor proposed means of peaceful settlement of a dispute. It was decided to sign an amicable
compromise about granting a deferred payment and transmission the building for mortgage.
The debtor broke his commitment with the amicable compromise again. He delayed in payment.
As a result, we agreed to sell the mortgage and satisfied the requirements of our client in such
way.
Advocates of Law office «Alliance Ratushnyak and Partners» conducted the case at all stages,
including signing a turnkey contract, consulting with cessation of works without financing,
brining an action before the ICAC, adoption of amicable compromise, consulting a mortgage
contract, negotiations about mortgage. In August of this year, our client received full payment
for executed works including late payment penalty.