Pavlenko Legal Group successfully defended OTP Bank in a dispute with the State Fiscal Service. Due to the resonant case, the legitimacy of transaction being absolutely new for the market is established to satisfaction of court. Such transaction is banks’ assignment of claims under credit agreements to non-financial institutions.

The court declared illegal and canceled 4 tax decision notices for a total of about UAH 100 million. Our lawyers argued the position of the tax service that banks can not assign debt rights to legal entities and individuals who are not considered to be the financial  institutions and do not have licenses to perform such activity.

Tamas Hak-Kovacs, Chairman of the Board of OTP Bank: “Owing to openness and active support of legal position of OTP Bank of the State Regulatory Service, National Bank of Ukraine as well as our reliable partners Pavlenko Legal Group, we have an unprecedented case demonstrating positive developments in the sphere of creditors rights protection in Ukraine – the main condition for investment attractiveness growth!”