DEPOSIT GUARANTEE FUND (DGF)
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Prominvestbank

Briefing note on winding-up of PSC Prominvestbank by the DGF

Full name of the bank being liquidated
Public stock company «Joint-Stock Commercial Industrial & Investment Bank»
Short name of the bank being liquidated
PSC Prominvestbank
NBU resolution on liquidation
On February 25, 2022, the NBU Board approved Resolution # 90-рш/БТ on Revocation of the Banking License and Liquidation of Public stock company «Joint-Stock Commercial Industrial & Investment Bank».
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On February 25, 2022, the DGF Executive Directorate issued Decision # 130 on Commencement of the Liquidation Procedure of PSC Prominvestbank 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 February 25, 2022, the DGF initiated the liquidation procedure of PSC Prominvestbank, appointed the DGF authorized officer and delegated to him the powers of PSC Prominvestbank liquidator.
Date when the bank liquidation was announced
On March 9, 2022, the official announcement of PSC Prominvestbank liquidation was published in the Holos Ukrainy newspaper.
Liquidator of PSC Prominvestbank
The DGF through the authorized officer under the Law.
Authorized officer
Artem Y. Karachentsev, 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 organize the asset sales for the bank.
Date when the deposit payout commenced
Payout of the guaranteed amount to PSC Prominvestbank’s depositors commenced on March 18, 2022.
Special powers of the 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).