Asters acted as a Ukrainian law counsel to an ad hoc group of lenders on the successful restructuring of a USD 2.066 billion debt of DTEK, the largest private, vertically integrated energy company in Ukraine. This deal is one of the largest debt restructuring projects in Ukraine private companies' history.

Following a short sanction hearing, on 14 May 2021, the English High Court sanctioned two inter-conditional schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC. The schemes of arrangement, which were approved by 100% of those creditors who attended and voted, enabled the DTEK Group to cancel existing lender and noteholder debt of USD 2.066 billion in exchange for new notes issued by DTEK Energy B.V.

Asters’ Restructuring team working on the matter was led by partner Iryna Pokanay with support from counsel Gabriel Aslanian, and associates Inna Bondarenko and Viktoria Zagreba. They were assisted by Energy law team (partner Yaroslav Petrov and senior associate Marta Halabala), as well as by partner Oleksiy Demyanenko (corporate aspects), partner Igor Svechkar (antitrust aspects), partner Markiyan Kliuchkovskyi and counsel Dmytro Shemelin (cross-border litigation aspects).

Global law firm Hogan Lovells was a lead counsel on this project.


Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2021 recognizes 23 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.