The NBU has scored another victory in legal battles with owners and guarantors of insolvent banks. The Kyiv Commercial Court, on 4 April 2017, satisfied the NBU’s claim and ruled in favor of foreclosure on property owned by Kyiv Shipbuilding and Ship-repair Yard PJSC – a property guarantor under the refinancing loan provided to Finance and Credit Bank PJSC.
According to an independent appraisal, the foreclosed property is worth UAH 287.3 million.
According to case materials, the NBU filed a lawsuit against the property guarantor under the refinancing loan provided to Finance and Credit Bank PJSC earlier in November 2016. Proceedings were launched in December 2016, and the NBU won the case in April 2017.
It should be noted that Finance and Credit Bank PJSC was declared insolvent on 17 September 2015 after the bank’s shareholder failed to comply with his written commitments to provide liquidity support and ensure ratio compliance within agreed terms for Finance and Credit Bank PJSC. On 17 December 2015, the NBU made a decision to revoke the banking license for this financial institution, acting in line with the Deposit Guarantee Fund’s proposal.
The NBU filed a total of 20 lawsuits on collecting debt from financial and property guarantors under liabilities of Finance and Credit Bank PJSC to the NBU.
The court satisfied ten such lawsuits of the regulator. Based on court judgments, the property value to be foreclosed is estimated at UAH 423.8 million.