DEPOSIT GUARANTEE FUND (DGF)
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PJSC “CB “NADRA”

Briefing note on winding-up of PJSC “CB “NADRA” by the DGF

Full name of the bank being liquidated

PUBLIC JOINT-STOCK COMPANY  “COMMERCIAL BANK “NADRA”
Short name of the bank being liquidated
PJSC “CB “NADRA”
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board’s Resolution dated February 5, 2015 # 83 on Classification of PUBLIC JOINT-STOCK COMPANY “COMMERCIAL BANK “NADRA” 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 February 5, 2015 # 26 on Introducing Provisional Administration in PUBLIC JOINT-STOCK COMPANY “COMMERCIAL BANK “NADRA”.
Duration of provisional administration
From February 6, 2015 through June 4, 2015, PJSC “CB “NADRA” was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
Date when the deposit payout commenced
Payment of the guaranteed amount to PJSC “CB “NADRA”’s depositors commenced on April 21, 2015.
NBU resolution on liquidation
On June 4, 2015, the NBU Board approved Resolution # 356 on Revocation of the Banking License and Liquidation of PUBLIC JOINT-STOCK COMPANY “COMMERCIAL BANK “NADRA”.
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On June 5, 2015, the DGF Executive Directorate issued Decision # 113 on Commencement of the Liquidation Procedure of PJSC “CB “NADRA” and Appointment of the DGF Officer Authorized to Liquidate the Bank. 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 June 5, 2015, the DGF initiated the liquidation procedure of PJSC “CB “NADRA”, appointed the DGF authorized officer and delegated to the officer the powers of PJSC “CB “NADRA” liquidator.
Date when the bank liquidation was announced
On June 12, 2015, the official announcement of PJSC “CB “NADRA” liquidation was published in the Holos Ukrainy newspaper.
Liquidator of PJSC “CB “NADRA”
From September 28, 2020, the powers of PJSC “CB “NADRA” 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).