ADVANTIUM successfully represented the interests of a legal entity, a financial surety provider

ADVANTIUM successfully represented the interests of a legal entity, financial surety provider, under a loan agreement in a case at the request of a client on the recognition of a court order as not subject to execution. The situation consisted of the fact that the creditor tried to collect the debt by a court decision, by Part 4 of Art. 36 of the Law of Ukraine “On Mortgages” is canceled (invalid), since the lender under the loan agreement made extrajudicial foreclosure on the subject of the mortgage of the property surety provider. The creditor tried to convince the court that he has the right to recover the difference between the value of the mortgage subject, for which he was independently levied extrajudicial collection, and the amount of debt under the loan agreement. ADVANTIUM managed to convince the court of appeal that Part 4 of Art. 36 of the Law of Ukraine “On Mortgage” (as amended at the time of the existence of the disputed relationship) establishes a rule on the invalidity of any claims of the creditor after the completion of an out-of-court settlement, despite the presence or absence of a difference between the amount of debt and the number of satisfied claims.