On 27 March 2018, the Kyiv Administrative Court of Appeal denied the appeal lodged by BNS Trade LLC against a ruling made by the Kyiv District Administrative Court on 18 January 2018.
The court dismissed the appeal brought by BNS Trade LLC against the National Bank of Ukraine and requesting that the central bank’s omission with respect to Diamantbank PJSC be declared illegal.
Courts have repeatedly ruled that the NBU appropriately supervised banks that were later shut down as insolvent.
In 2014 - 2018, the NBU won 66 lawsuits, claiming that the central bank’s omission with respect to banks that were declared insolvent or liquidated was illegal. At the same time, 88 lawsuits are still being considered by courts of various instances.
Diamantbank was declared insolvent on 24 April 2017 after the bank failed to comply with its restructuring plan aimed at ensuring the bank met the regulatory capital adequacy ratio. On 22 June 2017, the NBU revoked the bank’s license and set the bank in liquidation.