DEPOSIT GUARANTEE FUND (DGF)
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PJSC CB «STANDART»

Briefing note on winding-up of PJSC CB «STANDART» by the DGF

Full name of the bank being liquidated

PUBLIC JOINT-STOCK COMPANY «COMMERCIAL «BANK STANDART»
Short name of the bank being liquidated
PJSC CB «STANDART»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated February 19, 2015 # 116 on Classification of PUBLIC JOINT-STOCK COMPANY «COMMERCIAL BANK «STANDART» 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 19, 2015 # 38 on Introducing Provisional Administration in PJSC CB «STANDART».
Duration of provisional administration
February 20, 2015 through June 18, 2015, PJSC CB «STANDART» was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation
On June 18, 2015, the NBU Board approved Resolution # 385 on Revocation of the Banking License and Liquidation of PUBLIC JOINT-STOCK COMPANY «COMMERCIAL BANK «STANDART».
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On June 19, 2015, the DGF Executive Directorate issued Decision # 120 on Commencement of the Liquidation Procedure of PJSC CB «STANDART» 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 June 19, 2015, the DGF initiated the liquidation procedure of PJSC CB «STANDART», appointed the DGF authorized officer and delegated to the officer the powers of PJSC CB «STANDART» liquidator.
Date when the bank liquidation was announced
On June 26, 2015, the official announcement of PJSC CB «STANDART» liquidation was published in the Holos Ukrainy newspaper.
Liquidator of PJSC CB «STANDART»
From July 15, 2021, the powers of PJSC CB «STANDART» 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.
Deposit payout period
From May 5, 2015 to May 15, 2019.
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).