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Baker & McKenzie Advises Steering Committee of International Creditors of FUIB on First Successful Restructuring of International Loans Portfolio from Ukraine

Kyiv/Munich, 8 February 2010 – Baker & McKenzie announced today that it acted as legal counsel to the Steering Committee of the international creditors of Public Joint Stock Company "First Ukrainian International Bank" ("FUIB"), the 14th largest bank in Ukraine, which utilised a new USD237 million master facility to refinance its existing facilities provided by international creditors.  This is the first successful restructuring of a Ukrainian bank's international loans portfolio since the financial crisis had an adverse impact on the Ukrainian banking sector.  It is also relevant to both the German and London banking sectors as the majority lenders involved are either German or London-based banks.

Baker & McKenzie acted for the Steering Committee of international creditors, which was lead by Standard Bank Plc, VTB Deutschland GmbH (now VTB Capital), Landesbank Berlin, Raiffeisen Zentralbank Österreich AG and Black Sea Trade and Development Bank.

The English law team of Baker & McKenzie was led by Michael Foundethakis (Partner, Munich) and supported by Kathrin Schmid-Pfaehler and Catherina Haegele (Associates, Munich).  The Ukrainian law team of Baker & McKenzie in Kiev was led by Serhiy Chorny (Partner, Kyiv) and supported by Victoria Ischenko and Maksym Hlotov (Associates, Kyiv).

FUIB was represented by Clifford Chance.

About Baker & McKenzie
Founded in 1949, Baker & McKenzie provides sophisticated advice and legal services to many of the world's most dynamic and successful organizations through more than 3,900 locally qualified lawyers and 5,800 professional staff in 67 offices and 39 countries. Baker & McKenzie is known for having a deep understanding of the language and culture of business, an uncompromising commitment to excellence, and world-class fluency in the way we think, work and behave. Baker & McKenzie's global revenues for the fiscal year ended June 30, 2009, were US $2.11 billion. John Conroy is Chairman of the Firm's Executive Committee. (www.bakernet.com)