News date: 10 February 2026
The Commercial Cassation Court within the Supreme Court made a final decision in favor of Hotel Salute PJSC in a dispute concerning the lawfulness of the actions of a state enforcement officer who initiated enforcement proceedings for the compulsory execution of a court ruling granting consent to sell the debtor’s property. The relevant judgment was issued on January 16, 2026.
In 2023, the Supreme Court finally rejected the National Bank of Ukraine’s attempt to foreclose on the Hotel Salute building. With the coordinated efforts of Ilyashev & Partners’ team, the C Supreme Court recognized the NBU’s actions as unlawful with respect to a debtor undergoing bankruptcy proceedings and established a precedent-setting approach to satisfying mortgagees’ claims in such cases.
Disagreeing with the Supreme Court’s decision, the National Bank of Ukraine filed a motion seeking consent to sell the debtor’s mortgaged property – the non-residential buildings of the hotel – to recover debt under loan agreements exceeding UAH 4 billion. The courts of first and appellate instances granted consent to the compulsory sale of the hotel’s property through public auctions.
Attorney at Law, Counsel, Co-Head of Insolvency and Financial Restructuring of Ilyashev & Partners, Vadym Kizlenko, who is managing the hotel’s liquidation procedure, challenged before the cassation court the actions of the state enforcement officer in the enforcement proceedings, as well as the ruling imposing seizure on the hotel’s property.
The Supreme Court set aside the rulings on the initiation of enforcement proceedings and the seizure of Hotel Salute’s property, and recognized as unlawful the state enforcement officer’s actions aimed at the compulsory sale of the debtor’s property.
The resolution of the Court of Cassation is final and is not subject to appeal.
Hotel Salute is a 3-star, 7-story hotel in Kyiv. It was designed by the famous architect Avraham Miletski in 1984 and built in a modernist style.