Date: 2 weeks ago   Category: Economy

The court recognized as illegal reference of Zlatobank to insolvent

The big chamber of the Supreme Court recognized as illegal the decision of the National Bank of Ukraine (NBU) of February 13, 2015 on reference of PJSC Zlatobank (Kiev) to category insolvent. It is reported on the website of the Fund of Guaranteeing Deposits of Individuals (FGDI). "The resolution of February 5, 2019 the Big chamber of the Supreme Court left to

without changes the resolution of District administrative court of Kiev of July 14, 2017 and the Kiev appeal administrative court of October 25, 2017 which it is recognized as illegal and the resolution of board of the NBU No. 105 of February 13, 2015 "About reference of PJSC Zlatobank to category insolvent" is repealed, - it is specified in the message.

Besides, the Big chamber of the Supreme Court recognized as illegal and repealed the resolution of board of the NBU No. 310 of May 12, 2015 "About withdrawal of the bank license and liquidation of PJSC Zlatobank and the solution of FGVFL: No. 30 of February 13, 2015 "About introduction of the interim administration in PJSC Zlatobank, No. 99 of May 13, 2015 "About the beginning of the procedure of liquidation of PJSC Zlatobank and appointment of the authorized person to liquidation of bank", No. 100 of May 18, 2015 "About modification of the decision of executive directorate of Fund No. 99 of May 13, 2015" and No. 391 of March 24, 2016 "About extension of terms of the procedure of liquidation of PJSC Zlatobank for two years till May 13, 2018 inclusive".

In addition, the court obliged to provide the NBU to Zlatobank term for carrying out actions for financial improvement after holding actions for its elimination.

At the same time FGVFL notes that cancellation of the decision on reference of Zlatobank to insolvent does not restore its solvency and does not provide return of financial establishment to the market as similar is not provided by the law.

the Fund of guaranteeing expects the full text of the resolution of Big chamber of the Supreme Court by results of which analysis will consider a question of appeal to the court with the statement for explanation of this judgment.

meanwhile, FGVFL notes that the former shareholders of Zlatobank can use this judgment and remove financial establishment out of limits of the legal framework. "Loss by Fund of control over assets of Zlatobank will actually make

impossible meeting requirements of investors and creditors for the total amount over 6.5 billion UAH, including investors natural persons on more than 1.8 billion UAH, according to the procedure provided by the law. Questionable there are also already carried out payments: from the moment of recognition of Zlatobank insolvent FGVFL paid about 825 million UAH of nearly 14 thousand to investors", - it is specified in the message.

of the NBU made on February 13, 2015 the decision on reference of Zlatobank to category of insolvent.

"As PJSC Zlatobank after the termination of the working day on February 12, 2015, contrary to requirements of the NBU, carried out operations with great risk for investors and other creditors of bank, the board of National Bank for the purpose of protection of creditors of bank and the interests of the state was to a vynuzhda



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