Collection of debts on loans and disclosed letters of credit in the amount of more than 50 million US dollars

Collection of debts on loans and disclosed letters of credit in the amount of more than 50 million US dollars

A number of loan agreements have been concluded between our Client, a large Russian bank, and UTair Airlines OJSC. The total amount of funding was about 50 million US dollars. The debt was not repaid within the terms established by the loan agreements. The bank appealed to the court with claims for debt collections, within the framework of which interim measures were obtained in the form of seizure of the debtor's property. The arrest and inventory of the debtor's property had to be carried out on the territory of Vnukovo Airport and Surgut Airport.

During the execution of enforcement actions on the territory of Vnukovo Airport and Surgut Airport (a specially protected area), Utair aircraft, as well as airfield technical support facilities were arrested. The SPI has been seized in the form of a ban on disposing of and using the debtor's property. The lawyers of the Bureau achieved the adoption of interim measures, which eventually prompted the debtor to proceed to the settlement of the dispute and the conclusion of a settlement agreement. As a result, UTair Airlines JSC repaid the debt in full.