International law firm Integrites has acted as a legal adviser to Chosun Refractories Co., Ltd., the largest Korean manufacturer and exporter of refractories, on settlement of disputes for an overall amount of more than $55 million.
Under the project’s framework, ILF Integrites represented successfully Chosun Refractories Co., Ltd. in a number of disputes on distressed receivables for an overall amount of more than $55 million. The actual debtors were steel works, situated in Russia, Ukraine and Kazakhstan. A dispute resolution process was complicated by the necessity to find and prove the relationship between steel works and debtors’ "technical" companies used for tax optimization and procurement.
The legal support to Chosun Refractories Co., Ltd. was provided by a team of lawyers including Denis Kopiy, Aleksandr Ryazantsev, Artur Tretyakov and Oleg Svientukh led by Vyacheslav Korchev, Managing Partner of ILF Integrites, and Roman Kryvosheyev, Managing Partner of the Russian office.
Chosun Refractories Co., Ltd. is a leader in the construction materials market with a 70 year story of success. In order to improve its products Chosun Refractories focuses on the permanent scientific research and development conducted at company's own R&D center. The company specializes in manufacturing and exporting of blast furnaces and accessories for them.