Our client, DACHA Company Limited, a company registered in Dubai, provided the spouses V. from Moscow with a loan in the amount of $ 1.5 million. After the loan repayment deadline V. refused to repay the debt under any pretext, challenging, inter alia, the fact of signing the contract.
Protsenko & Partners’ lawyers had the task of recovering the entire loan amount, interest, and penalties from the spouses of V. in favor of DACHA Company Limited. The task was complicated by the controversial wording in the contract itself: interest on the loan was provided for different periods. The defendants insisted that increased interest should be regarded as penalties and therefore it was unlawful to collect penalties in addition to them. The court did not agree with this position of the defendants.