Briefing note on winding-up of the PJSC “FINBANK” by the DGF
| Full name of the bank being liquidated | PUBLIC JOINT-STOCK COMPANY “FINBANK” |
| Short name of the bank being liquidated | PJSC “FINBANK” |
| Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank | NBU Board Resolution dated April 7, 2017 # 217-рш/БТ on Classification of the PUBLIC JOINT-STOCK COMPANY “FINBANK” 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 April 9, 2017 # 1452 on Introducing Provisional Administration in the PJSC “FINBANK” and Delegation of Powers of the Provisional Administrator. |
| Duration of provisional administration | April 10, 2017 through April 27, 2017, PJSC “FINBANK” was under provisional administration. The DGF carried out the provisional administration through the authorized officer. |
| NBU resolution on liquidation | On April 27, 2017, the NBU Board approved Resolution # 275-рш on Revocation of the Banking License and Liquidation of the PUBLIC JOINT-STOCK COMPANY “FINBANK”. |
| DGF Executive Directorate’s decision on commencement of the liquidation procedure | On April 27, 2017, the DGF Executive Directorate issued Decision # 1810 on Commencement of Liquidation Procedure of PJSC “FINBANK” 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 April 28, 2017, the DGF initiated the liquidation procedure of the PJSC “FINBANK”, appointed the DGF authorized officer and delegated to her the powers of the PJSC “FINBANK” liquidator. |
| Date when the bank liquidation was announced | On May 4, 2017, the official announcement of the PJSC “FINBANK” liquidation was published in the Holos Ukrainy newspaper. |
| Deposit payout period | From May 12, 2017 to January 3, 2019. |
| Liquidation procedure period | Liquidation procedure of the PJSC “FINBANK” lasted from April 28, 2017 to January 3, 2019. |
| Date of making an entry into the Unified State Register of Legal Entities and record number | On January 3, 2019, record # 15561110041002033 on the state registration of the PUBLIC JOINT-STOCK COMPANY “FINBANK” 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). |