Project Team
PraeLegal Uzbekistan successfully represented the interests of a major foreign industrial plant in a high-profile economic case regarding the bankruptcy of the oil company EPSILON DEVELOPMENT COMPANY.
The debt exceeded $10 million USD and had remained unpaid for several years despite multiple collection attempts. The complexity of the case lay in the fact that previous efforts by other major creditors to initiate EPSILON DEVELOPMENT COMPANY's bankruptcy had failed — courts repeatedly dismissed their claims, refusing to recognize grounds for insolvency proceedings.
However, the legal team at PraeLegal Uzbekistan, led by Managing Partner Davranbek Ahmatov, developed an effective legal strategy and prepared a well-founded claim that convincingly established the legal basis for declaring the debtor bankrupt.
As a result, the court ruled in favor of our team, declaring the company bankrupt and initiating a rehabilitation procedure. This outcome not only confirmed EPSILON DEVELOPMENT COMPANY's insolvency but also set an important legal precedent in its bankruptcy proceedings.
This significant victory once again demonstrated PraeLegal Uzbekistan’s expertise in complex economic disputes and its ability to protect the interests of major international corporations.