Following changes to legislation last year, Valentyn Gvozdiy makes recommendations to creditors
The major part of banking litigation relates to the disputes between financial institutions and borrowers, over unpaid debt and provided collaterals. To avoid spending years in litigation that eventually may lead to a negative result for the creditor, we recommend staying in line with the latest developments in this field and court practice. It should be noted that during 2019 numerous changes were introduced in Ukrainian legislation aimed at protection of creditors’ rights and interests from unfair debtors. Here are several recommendations for financial institutions before initiating any dispute with borrowers.