The National Bank of Ukraine presses ahead with its efforts to recover debts on refinancing loans granted to insolvent banks. In Q1 2017, the NBU scored three victories in legal battles against the property guarantor of Delta Bank JSC and won a foreclosure judgment on the mortgaged property, which is worth UAH 63.6 million, according to an independent appraisal.
Another six foreclose suits filed by the NBU against the property guarantor under the refinancing loans provided to Delta Bank JSC are currently underway in courts.
In 2014-2017, the NBU has initiated 47 court proceedings, seeking to collect debts owed to the NBU from financial and property guarantors. The fair value of the foreclosed property is estimated at UAH 10.9 billion.
As of 1 April 2017, the courts had issued 23 rulings ordering foreclosure on property owned by the guarantors. The fair value of the foreclosed property amounted to UAH 1.1 billion.
On 2 March 2015, the NBU declared Delta Bank JSC insolvent. On 2 October 2015, the NBU, acting in line with the Deposit Guarantee Fund’s proposal, issued a decision to revoke the banking license held by this financial institution and wind up this bank.
* The fair is determined using the NBU valuation methodology.