DEPOSIT GUARANTEE FUND (DGF)
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JSC «Delta Bank»

Briefing note on winding-up of the Public Joint Stock Company «Delta Bank» by the DGF

Full name of the bank being liquidated
Public Joint Stock Company «Delta Bank»
Short name of the bank being liquidated
JSC «Delta Bank»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated March 2, 2015 # 150 on Classification of the Public Joint Stock Company «Delta 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 March 2, 2015 # 51 on Introducing Provisional Administration in the Public Joint Stock Company «Delta Bank»
Duration of provisional administration
March 3, 2015 through October 4, 2015, JSC «Delta Bank» 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 the JSC «Delta Bank»’s depositors commenced on June 11, 2015
NBU resolution on liquidation
On October 2, 2015, the NBU Board approved Resolution # 664 on Revocation of the Banking License and Liquidation of the Public Joint Stock Company «Delta Bank»
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On October 2, 2015, the DGF Executive Directorate issued Decision # 181 on Commencement of Liquidation Procedure of JSC «Delta Bank» 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 October 5, 2015, the DGF initiated the liquidation procedure of the JSC «Delta Bank», appointed the DGF authorized officer and delegated to him the powers of the JSC «Delta Bank» liquidator
Date when the bank liquidation was announced
On October 8, 2015, the official announcement of the JSC «Delta Bank» liquidation was published in the Holos Ukrainy newspaper
Liquidator of the JSC «Delta Bank»
The DGF through the authorized officer under the Law
Authorized officer
Andrii A. Matviienko, Lead Bank Liquidation Specialist of the Bank Liquidation Procedures Division, DGF Bank Liquidation Department
Powers of the liquidator
Powers of the liquidator defined by the Law, particularly, by Articles 37, 38, 47-52, 521, 53, provide that the liquidator shall enjoy the right to sign any agreements related to the sales of the bank’s assets in the manner prescribed by this Law, except for the powers to apply to a bank related party with a claim for damages and file such claim to the court, a claim to a non-banking financial institution, which raised the funds from an individual as a loan or a contribution legally equivalent to deposits as well as the powers to organize the asset sales for the bank.
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)