«BANK CAMBIO» PJSC

Briefing note on winding-up of «BANK CAMBIO» PJSC by the DGF

Full name of the bank being liquidated	PUBLIC JOINT STOCK COMPANY «BANK CAMBIO»
Short name of the bank being liquidated	«BANK CAMBIO» PJSC
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank	NBU Board Resolution dated December 4, 2014 # 782 on Classification of PUBLIC JOINT STOCK COMPANY «BANK CAMBIO» to the Category of Insolvent.
Decision of the Deposit Guarantee Fund’s (hereinafter – the DGF) Executive Directorate introducing provisional administration in the bank	The DGF Executive Directorate issued Decision dated December 4, 2014 # 140 on Introducing Provisional Administration in «BANK CAMBIO» PJSC and Delegation of Powers of the Provisional Administrator.
Duration of provisional administration	From December 5, 2014 through March 4, 2015, «BANK CAMBIO» PJSC was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation	On February 27, 2015, the NBU Board approved Resolution # 144 on Revocation of the Banking License and Liquidation of PUBLIC JOINT STOCK COMPANY «BANK CAMBIO».
DGF Executive Directorate’s decision on commencement of the liquidation procedure	On March 2, 2015, the DGF Executive Directorate issued Decision # 46 on Commencement of Liquidation Procedure of «BANK CAMBIO» PJSC and Delegation of Powers of the Bank Liquidator. In accordance with Subparagraph 1 of Part 2 of Article 46 of the Law of Ukraine on the Household Deposit Guarantee Scheme (hereinafter – the Law), from the starting day of the bank liquidation procedure terminated shall be all the powers of the bank governance bodies (general meeting, supervisory board and management board) and bodies of control (audit committee and internal audit). Senior managers of the bank are dismissed in connection with the bank liquidation.
Starting day of the bank liquidation	On March 2, 2015, the DGF initiated the liquidation procedure of «BANK CAMBIO» PJSC, appointed the DGF authorized officer and delegated to the officer the powers of «BANK CAMBIO» PJSC liquidator.
Date when the bank liquidation was announced	On March 6, 2015, the official announcement of «BANK CAMBIO» PJSC liquidation was published in the Holos Ukrainy newspaper.
Date when the deposit payout commenced	Payment of the guaranteed amount to «BANK CAMBIO» PJSC’s depositors commenced on March 6, 2015.
Liquidator of the «BANK CAMBIO» PJSC	From February 21, 2020, the powers of «BANK CAMBIO» PJSC liquidator defined by the Law are exercised directly by the DGF.
Powers of the liquidator	All powers of the bank liquidator defined by the Law.
Special powers of DGF in terms of recovering damages (loses) caused to the bank and/or its creditors	According to Part 7 of Article 52 of the Law, the DGF enjoys the right to apply to courts of an appropriate jurisdiction (including foreign courts) with a lawsuit seeking damages (losses) caused to the bank in case of: - finding the decisions, actions or omissions resulted in damages (losses) to the bank and/or its creditors; - identifying the persons who contributed to such decisions-making, actions or omissions and/or received pecuniary benefits; - determining the amount of damages (losses) suffered. DGF enjoys the right to file such lawsuits with the courts of an appropriate jurisdiction (including foreign courts) during the bank liquidation procedure and three years after making the bank termination record (special statute of limitations).