m|legal CLIENT REPORT: SUPPORT OF GERMAN SUPPLIER IN BANKRUPTCY OF THE RUSSIAN BUYER

The lawyers of m|legal report on success: a German supplier shall receive its money from a Russian buyer that goes bankrupt.
In 2019 a client of m|legal, a major German producer of construction materials, ceased to receive payment from its Russian buyer, a huge road construction company located in the city of Novosibirsk.
In May 2019 the lawyers of m|legal filed a pre-trial claim to the Russian company.
In June 2019 a bankruptcy procedure was initiated with regard to the Russian buyer. All payments from the Russian company became possible only following the bankruptcy procedure and only to those creditors, who are recorded in the list of creditors.
m|legal filed a petition to the State Arbitration Court of Novosibirsk Region to record the claims of the German supplier in the creditors’ list of the Russian buyer. The lawyers of mlegal faced strong opposition from the Russian party. The case took more than one year and three court hearings.
In early September 2020 all claims of the German supplier were successfully recorded in the creditors’ list of the Russian buyer. The German supplier shall receive its money in the course of the bankruptcy procedure.