The Ukrainian economy has experienced a significant downturn as a result of the current global financial crisis. This has had a detrimental effect on its banking system and contributed to the financial difficulties experienced by a number of its banks.
About a dozen banks have decided to pass a majority stake to the state. In such circumstances, unsecured creditors of debtor banks start to review their enforcement options.
This article was published in The Ukrainian Journal of Business Law, June 2009 edition. |