The banking system is an integral part of the economic mechanism. Bank loans provide businesses with development opportunities, which are not possible to archive on the business’s funds. However, the economic crisis has shown, that it is often the court who has a final say in the relationship between the bank and its client.
Herewith, prudent businesses decide to engage the legal assistance at the stage of a bank choosing and negotiations with a credit institution on the terms of the relevant credit and security agreements, and not at the stage, when the dispute has already arisen. This is a wise thing to do because the contractual practice of banks is that the terms of the relevant agreements include nearly unlimited grounds for loss of property by the borrower. Moreover, these terms are being “legalized” through a de facto controlled arbitration court. Clients are advised to involve the attorneys of Hrynchuk and Partners law firm at the earliest stages, to avoid such unfair and burdensome conditions in the relevant agreements. This would allow our attorneys to represent the interests of clients in negotiations of contract terms with the bank institution.
Protection of the rights of borrowers or depositors in the disputes with credit institutions in court is also important. Therefore, to avoid the excessive charges put on the borrower or the illegal seizure of his property, the one should resort to the help of experienced attorneys.