Antika Law Firm has successfully defended the interests of its Client – the major foreign real estate investor and developer – in a dispute with the Lessee of the warehouse and office premises over the termination of the long-term Lease Agreement on the basis of Article 652 of the Civil Code of Ukraine – change or termination of the Agreement in connection with the substantial change of circumstances. The dispute value more than UAH 236 million.
The Lessee initiated the litigation with the aim to terminate the contractual relationship on lease of warehouses and offices belonging to the Client, since the Lessee believed that a drop in sales of his products and the depreciation of the UAH against the USD in the country are cause to request termination of the Lease Agreement.
The team of associates consisting of partners Alexey Kot and Alexander Burtovoy and senior associate Maxim Korchagin succeeded to substantiate in the court of first instance, appeal court and in the Higher Economic Court of Ukraine that all presented by the Plaintiff (the Lessee) reasons relate solely to commercial risks, which means they cannot serve as grounds for Agreement termination in connection with the substantial change of circumstances.