Prevented the risks of the client’s transaction being invalidated and the risk of assets being lost

The lawyers from Pepeliaev Group’s bankruptcy practice have prepared an opinion for the subsidiary of a major national oil and gas corporation with an assessment of the risks relating to the set off of the counter claims of the potentially bankrupt company. The legal analysis of the situation, as well as of legislation and case law, has revealed significant risks that the assets will be lost even if the debt of the insolvent contractor is settled by way of set off. Based on the recommendations prepared by our specialists the client took a business decision that ruled out financial losses.