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24.04
2018
Settlement with bank without actual loan payments Back

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A loan agreement of UAH 5 million with the Bank was secured by a pledge of property rights to receive cash that was on a deposit account in the same Bank, in the amount of UAH 1.5 million. By the time the Bank started the liquidation procedure, the remaining debt was equal to the amount on the deposit account.

The Client’s proposal for netting of the loan agreement and the pledge agreement on property rights to receive cash on deposit was rejected by the Bank, and the Bank filed a claim for collection of credit debts.

Based on results of the developed defense strategy, TEFFI Law Firm’s team managed to defend the interests of the Client and provide him with a positive result in the lawsuit, as well as reach the desired settlement with the Bank without actual loan repayment.