PJSC «CITY COMMERCE BANK»

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

Full name of the bank being liquidated	PUBLIC JOINT STOCK COMPANY «СITY COMMERCE BANK»
Short name of the bank being liquidated	PJSC «CITY COMMERCE BANK»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank	NBU Board’s Resolution dated November 20, 2014 # 732 on Classification of PUBLIC JOINT STOCK COMPANY «СITY COMMERCE BANK» 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 November 20, 2014 # 124 on Introducing Provisional Administration in PJSC «CITY COMMERCE BANK».
Duration of provisional administration	From November 21, 2014 through March 19, 2015, PJSC «CITY COMMERCE BANK» was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation	On March 19, 2015, the NBU Board approved Resolution # 187 on Revocation of the Banking License and Liquidation of PUBLIC JOINT STOCK COMPANY «СITY COMMERCE BANK».
DGF Executive Directorate’s decision on commencement of the liquidation procedure	On March 20, 2015, the DGF Executive Directorate issued Decision # 64 on Commencement of the Liquidation Procedure of PJSC «CITY COMMERCE BANK» 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 March 20, 2015, the DGF initiated the liquidation procedure of PJSC «CITY COMMERCE BANK», appointed the DGF authorized officer and delegated to the officer the powers of PJSC «CITY COMMERCE BANK» liquidator.
Date when the bank liquidation was announced	On March 26, 2015, the official announcement of PJSC «CITY COMMERCE BANK» liquidation was published in the Holos Ukrainy newspaper.
Deposit payout period	From February 20, 2015 to January 29, 2020.
Liquidation procedure period	Liquidation procedure of PJSC «CITY COMMERCE BANK» lasted from March 20, 2015 to January 30, 2020.
Date of making an entry into the Unified State Register of Legal Entities and record number	On January 30, 2020, record # 10731110056009555 on the state registration of PJSC «CITY COMMERCE BANK» termination was entered into the Unified State Register of Legal Entities, Sole Proprietors and Public Associations.
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).