Bankruptcy and insolvency

Insolvency proceedings are both a recovery mechanism for the creditor and a way for the debtor to deal with unmanageable debt. The roles differ, but both call for involvement at every stage.

When to get in touch

• a debtor is not paying and ordinary enforcement is getting nowhere
• insolvency proceedings have been opened against your company
• monetary claims need to be filed against a debtor
• an individual cannot service their debts and is looking for a lawful way out

What the lawyer does

• assesses whether the procedure makes sense and what it offers in your role
• prepares the petition to open proceedings, or the statement of monetary claims
• represents the client in the commercial court and at creditors’ meetings
• works with the insolvency practitioner and keeps the procedure under review
• analyses and challenges the debtor’s suspicious transactions
• handles the personal insolvency procedure for individuals

Legal basis

Insolvency is governed by the Bankruptcy Procedures Code of Ukraine: jurisdiction, venue and the grounds for opening proceedings are set out in Article 8, and the requirements for the petition in Article 34. The Code provides for court procedures including property administration and liquidation. It also provides a procedure for restoring the solvency of an individual through debt restructuring. These cases are heard by the commercial courts.

Legislation and case law are updated over time; this page reflects the position as of August 2026.

Frequently asked questions

What does insolvency offer a creditor?

The chance to file claims within the procedure, to influence it through the creditors’ meeting, and to challenge the debtor’s suspicious transactions.

Can an individual write off debts?

The Code provides a procedure for restoring an individual’s solvency; what it achieves depends on the structure of the debts and the assets — we assess that case by case.

Need legal assistance? Call us or leave a request — a lawyer will contact you and explain what to do in your situation.