PRAGNUM SETTLES DEBT OF UAH 16.9 MILLION OUT OF COURT

Due to the full-scale invasion of Ukraine, a huge number of supply chains were disrupted and some companies were unable to fulfill their obligations and pay their debts, but continued to operate in the hope of restoring their solvency. In particular, PRAGNUM's client was owed almost UAH 17 million by its counterparty for logistics services, but due to the difficult economic situation in the country, it was unable to repay the debt.

Debt collection in court would have meant the termination of the debtor's existence and, as a result, the dismissal of dozens of employees and the cessation of the business. PRAGNUM's attorneys offered the Client to analyze the debtor and negotiate with its management to determine the possibility of out-of-court debt repayment while preserving the debtor's existence and the latter's relationship with the Client.

PRAGNUM's implementation of this plan allowed us to reach an agreement on the procedure and terms of debt repayment and further cooperation with the Client, which was followed by a corresponding agreement.

As a result, we have a satisfied Client who not only received his money but also continued cooperation with his counterparty.