Serhiy Chorny

Serhiy Chorny

Kyiv Representative Office of Baker McKenzie


Serhiy Chorny is a co-managing partner and head of the Banking & Finance Group in Baker McKenzie's Kyiv office. Since 2005, he has been highly ranked by leading international and Ukrainian legal directories such as Chambers Global, Chambers EuropeLegal 500 EMEA, and IFLR1000 in various practice areas, including banking and finance, restructuring and insolvency, capital markets, structured finance and securitization, project finance and financial services.

Practice Focus

Mr. Chorny focuses on cross-border lending, structured finance, securitization, debt capital markets and debt restructuring. He acts for banks and borrowers in a wide range of banking, finance and international capital markets transactions from Ukraine, including Eurobonds. He has successfully run a number of landmark transactions in the Ukrainian market, including pioneering international securitizations in 2007 and 2008. His clients include major international and Ukrainian firms, such as Citibank, BNP Paribas, ING Bank, Metinvest, Gastransit, EIB, EBRD, IFC, and BSTDB, among others.

Representative Legal Matters

  • Acted for the city of Kyiv in its Eurobond issuances of USD300 million 9.38 percent loan participation notes due 2016, USD250 million 8.25 percent loan participation notes due 2012, USD250 million 8 percent loan participation notes due 2015, USD200 million 8.63 percent loan participation notes due 2011, and USD150 million 8.75 percent loan participation notes due 2008 — the first ever municipal Eurobond offering from Ukraine.
  • Acted for Metinvest BV in an update of its USD1.5 billion guaranteed medium term note program with an issuance of USD290 million 10.50 percent.
  • Advised European Investment Bank as lender and guarantee beneficiary on its EUR55 million loan to the Ukrainian State Administration of Railway Transport and related sovereign guarantee.
  • Counseled PrivatBank, the largest commercial bank by assets in Ukraine, on the first international securitization of its USD180 million residential mortgage loan portfolio and the first securitization its autoloans portfolio.
  • Acted as Ukrainian law counsel to the Black Sea Trade and Development Bank in connection with a USD30 million loan facility to DTEK Trading Limited Liability Company to finance DTEK Group's investment program in the energy sector. The loan was supported by suretyships of 10 Ukrainian companies and guarantees of two Cyprus companies of the DTEK Group.
  • Acted as Ukrainian law counsel to the European Investment Bank in connection with its EUR220 million credit line to the State Savings Bank of Ukraine (Oschadbank) to finance Oschadbank’s lending projects to small and medium-sized enterprises in Ukraine.

Professional Honors

  • Eminent Practitioner in Banking and Finance, Chambers Global, 2015-2016
  • Eminent Practitioner in Banking and Finance, Capital Markets and Restructuring/Insolvency, Chambers Europe, 2015-2016
  • Leading Individual in Banking, Finance and Capital Markets, Legal 500 EMEA, 2009-2016
  • Leading Lawyer in Banking, Capital Markets, Capital Markets: Structured Finance and Securitization, Project Finance, Financial Services, IFLR1000, 2015-2016
  • Band 1 in Banking & Finance, Capital Markets and Restructuring & Insolvency, Chambers Global and Chambers Europe, 2006-2014
  • Leading Lawyer in Banking and Finance, IFLR1000, 2005-2015
  • Authority in Banking & Finance, Ukrainian Law Firms: A Handbook for Foreign Clients, 2016
  • Leading Individual in Banking & Finance/Restructuring, Ukrainian Law Firms: A Handbook for Foreign Clients, 2007-2015
  • Lawyer of the Year in Banking and Finance Law, Capital Markets Law, Project Finance, Development Practice and Structured Finance Law, Best Lawyers, 2014-2016

Professional Associations and Memberships

  • Ukrainian Bar Association - Member
  • American Chamber of Commerce, Board Member


  • Ukraine (1987)


  • University of Essex (LL.M., Distinction) (1994)
  • Institut International des Droits del Homme, Strasbourg (Diploma International & Comparative Law of Human Rights) (1993)
  • Institute of State & Law (Ph.D. Law) (1992)
  • Kyiv State Univeristy (LL.M., Honors) (1987)


  • English
  • Ukrainian
  • Russian