Multinational debt collection case

Three partners, from Ukraine, Poland and France decided to open printing business in Ukraine.

They invested their shares, developed business and started to get dividends.

However, after Ukrainian crisis in 2014, French businessman decided to quit and get his share.

The deal was structured through good contract and Cyprus jurisdiction, but remaining shareholders were still not hurrying to pay.

The case was assigned to local experts in debt collection in Ukraine.

After long and painful negotiations debt payment schedule for 3 years was agreed. However, even then every monthly installment was paid only through numerous reminders, pressure and breaking through tough bureaucracy of Ukrainian banks.

In 1.5 years and 50% of debt paid, Ukrainian shareholder decided to leave. The whole schedule was broken and the whole process stalled.

Several months of new negotiations and meetings were required to agree final one-off discounted debt repayment on condition of immediate payment.

Despite of several weeks were spend for settlement of various administrative issues, the debt was finally paid and case was closed with help of debt collection experts.

Sometimes even if creditor and debtor generally agrees on debt repayment they need debt collection experts to structure payments and push the process forward.