DEPOSIT GUARANTEE FUND (DGF)
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BANK NATIONAL CREDIT

Briefing note on winding-up of the BANK NATIONAL CREDIT by the DGF

Full name of the bank being liquidated
PUBLIC JOINT-STOCK COMPANY “BANK NATIONAL CREDIT”
Short name of the bank being liquidated
BANK NATIONAL CREDIT
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated June 5, 2015 # 358 on Classification of the PUBLIC JOINT STOCK COMPANY “BANK NATIONAL CREDIT” 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 June 5, 2015 # 114 on Introducing Provisional Administration in the BANK NATIONAL CREDIT
Duration of provisional administration
June 8, 2015 through August 30, 2015, the BANK NATIONAL CREDIT was under provisional administration. The DGF carried out the provisional administration through the authorized officer
NBU resolution on liquidation
On August 28, 2015, the NBU Board approved Resolution # 563 on Revocation of the Banking License and Liquidation of the PUBLIC JOINT-STOCK COMPANY “BANK NATIONAL CREDIT”
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On August 28, 2015, the DGF Executive Directorate issued Decision # 159 on Commencement of Liquidation Procedure of the BANK NATIONAL CREDIT 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 August 31, 2015, the DGF initiated the liquidation procedure of the BANK NATIONAL CREDIT, appointed the DGF authorized officer and delegated to him the powers of the BANK NATIONAL CREDIT’s liquidator
Date when the bank liquidation was announced
On September 3, 2015, the official announcement of the BANK NATIONAL CREDIT liquidation was published in the Holos Ukrainy newspaper
Date when the deposit payout commenced
Payment of the guaranteed amount to the BANK NATIONAL CREDIT’s depositors commenced on September 3, 2015
Liquidator of the BANK NATIONAL CREDIT
From July 20, 2020, the powers of the BANK NATIONAL CREDIT 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).