Mosgo & Partners lawyers enforce debt collection in favour of a German citizen
The Mosgo & Partners team achieved a recovery of multi-million amounts under a settlement agreement in favour of a foreign client.
The client, a German citizen, sold a share in the authorised capital of a limited liability company to a Russian partner. In fulfilment of the agreement, the seller's share was alienated and transferred to the buyer. However, since the conclusion of the contract, the buyer has repeatedly defaulted on his obligation to make regular quarterly payments for the share. The seller addressed the buyer with pre-trial claims with a request to settle this situation out of court. Having received no substantive response, the seller applied to the court. During the court proceedings, the parties reached a compromise and a settlement agreement was approved. Nevertheless, the buyer did not fulfil the terms of the settlement agreement voluntarily, and there were significant delays in payment. Mosgo & Partners team provided legal support to the client in enforcing the debt.
Anton Shamatonov, Head of Dispute Resolution Practice at Mosgo & Partners, commented: "We are pleased that the Russian legal system demonstrates not only the possibility of fair court decisions, but also their enforcement in favour of foreign nationals. This is a major victory not only for the client and our team as lawyers, but also for Russian legal institutions".
The dispute was accompanied by Konstantin Zakharenko and Anton Shamatonov.
This newsletter shall not be viewed as legal advice. It is prepared for educational and informational purposes only. Mosgo & Partners is not responsible for any consequences of reliance on the information contained in this newsletter without specific professional advice.
© Mosgo & Partners. Moscow, 2023