Debt recovery Ukraine
LECCIS experts helped to settle debt recovery dispute between Lithuanian and Ukrainian business.
COVID19 lock-down heavily impacted debtor’s ability to market products received from Lithuanian partner. With products stuck at the warehouse Ukrainian company could not afford to pay them and Lithuanian company did not have any idea how to collect debt in Ukraine.
LECCIS experts started long and complicated mediation trying to find balance between interest of creditor in Lithuania and debtor in Ukraine. In the end, parties agreed that Ukrainian company takes obligation to market 40% of the products and pay relevant part of the debt with returning remaining products.
Payment and return went smoothly; debt recovery Ukraine was successful for both parties, since they kept their good business relation and restored full-scale trade when situation with COVID19 improved.