White & Case and Weil Gotshal & Manges have won roles advising as the International Monetary Fund (IMF) kicked off a review of the Ukrainian government's bailout package last week.

On 15 June the IMF began its first appraisal of the crisis-hit country's $40bn (£25bn) rescue package after months of negotiations between the Ukrainian government and its creditors.

White & Case capital markets partner Francis Fitzherbert-Brockholes is understood to be acting for the Ukrainian government.

The sovereign debt specialist has managed bond issues for a wide range of countries including Poland, Latvia and Lithuania during more than 25 years at the firm.

The Ukrainian government is currently preparing for renewed talks with its creditors in the wake of the review.

The main holders of Ukrainian bonds include UK investment manager Franklin Templeton Investments – Ukraine's biggest creditor – as well as US investment firm T. Rowe Price, investment management company TCW Group and finance firm BTG Pactual Europe.

Weil is advising all of the principal bondholders on the restructuring negotiations with a team led by London-based restructuring partner Andrew Wilkinson.

The team also includes fellow restructuring partners Paul Bromfield and Alex Wood.

New York partner Todd Chandler is providing capital markets advice along with London-based high-yield team head Patrick Bright.

White & Case is one of several firms to have scaled down its headcount in Russia since sanctions were put in place after conflict in Ukraine escalated last year.