Creditor's representation in the bankrupсy deal
Infralex represents the company - the main developer of hotels and sports facilities of the Olympic Games in Sochi in 2014 in the bankruptcy case of one of his largest subcontractors for the construction.
Our client engaged the debtor as a subcontractor, but the latter did not perform its obligations in full. The client had to hire other subcontractors to complete the works that debtor failed to do in order to perform its obligations under the state procurement contract in time for the Olympic Games.
Our primary objective was to include our client’s claims in the amount of more than USD150m into the register of creditors’ claims and to achieve that other creditors’ claims are not included or included as few as possible.
In addition, we are currently contesting debtor transactions in the amount of about $ 1 billion. INFRALEX lawyers have formed a strategy to protect the interests of the client in these disputes and represent his interests in the course of litigation.
As a result of the successful representation of the interests of the client (creditor), his claims for more than $ 150 million were included in the register of creditors' claims, which is more than 50% of all included claims. This circumstance provided our client with a majority of votes at the meeting of creditors and, as a result, made it possible to influence on decision-making process during all bankruptcy proceedings of the debtor. At the moment, debtor transactions totaling about $ 1 billion are also disputed.