The essence of the conflict:
The opponents filed a bankruptcy petition against our settlor (a logistics company), referring to the acquisition of a claim in the amount of 7M $ as a result of the liquidation of a Liechtenstein trust fund.
The claims were based on an independent guarantee agreement issued by the settlor to an Austrian bank to secure the obligations of another Austrian company back in 2015. The guarantee itself was subject to English law.
According to the opponents' version, the claims against the trustor were acquired as a result of a series of events that took place in foreign jurisdictions and were not always supported by documentation. The main dispute revolved around what law - Austrian or English - governs the assignment of claims under an acccessory obligation (guarantee) in case of fulfillment of the main obligation by a third party for the debtor.
The second part of the Law Office's lawyers' work was to determine whether the Liechtenstein trust fund was terminated due to sanctions and whether there was a transfer of rights (claims) from the fund to the opponents.
The Law Office Actions
The dispute was complicated by the application of English, Austrian and Liechtenstein law, as the companies included in the chain of claims were located in these countries.
The Law Office carried out comprehensive work to protect the company from bankruptcy:
