Insolvency and Financial Restructuring

he Bankruptcy and Financial Restructuring Practice of Ilyashev & Partners is one of the strongest and most experienced practices in Ukraine in the field of complex insolvency proceedings, debt restructuring, and asset protection. The firm represents creditors, investors, insolvency practitioners, state-owned and private companies in large-scale bankruptcy cases involving strategic industrial enterprises, energy companies, agribusinesses, infrastructure facilities, and assets damaged or lost due to the war.

The team has unique experience in handling insolvency proceedings involving enterprises of strategic importance to the Ukrainian economy, including companies operating in the mining and metals sector, chemical industry, machinery manufacturing, aviation, shipbuilding, and defence industries. The practice regularly advises on insolvency proceedings involving substantial debt portfolios, multiple creditor groups, parallel litigation, and corporate disputes.

The firm has extensive experience in developing creditor protection and asset recovery strategies, challenging fraudulent, sham, and loss-making transactions entered into by debtors, pursuing directors and business owners for subsidiary and joint liability, and assisting with the sale and realization of assets in bankruptcy proceedings. The practice also actively represents clients in financial restructuring matters, including debt restructuring, negotiations between creditors and debtors, approval of restructuring plans, and preservation of business operations in distressed situations.

A dedicated area of the practice focuses on bankruptcy and restructuring proceedings involving businesses affected by war, occupation, or loss of control over assets. The team develops comprehensive asset protection and damage recovery strategies, including claims for compensation for lost property and the inability to conduct business operations. The firm also represents foreign creditors in insolvency proceedings in Ukraine and advises on cross-border insolvency matters and creditor protection issues.