DEPOSIT GUARANTEE FUND (DGF)
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PJSC UKRAINIAN BANK OF DEVELOPMENT

Briefing note on winding-up of PJSC UKRAINIAN BANK OF DEVELOPMENT by the DGF

Full name of the bank being liquidated
PUBLIC JOINT-STOCK COMPANY UKRAINIAN BANK OF DEVELOPMENT
Short name of the bank being liquidated
PJSC UKRAINIAN BANK OF DEVELOPMENT
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board’s Resolution dated November 27, 2014 # 743 on Classification of PUBLIC JOINT-STOCK COMPANY UKRAINIAN BANK OF DEVELOPMENT 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 27, 2014 # 132 on Introducing Provisional Administration in PJSC UKRAINIAN BANK OF DEVELOPMENT.
Duration of provisional administration
From November 28, 2014 through December 22, 2015, PJSC UKRAINIAN BANK OF DEVELOPMENT was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation
On December 21, 2015, the NBU Board approved Resolution # 914 on Revocation of the Banking License and Liquidation of PUBLIC JOINT-STOCK COMPANY UKRAINIAN BANK OF DEVELOPMENT.
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On December 22, 2015, the DGF Executive Directorate issued Decision # 234 on Commencement of the Liquidation Procedure of PJSC UKRAINIAN BANK OF DEVELOPMENT 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 December 23, 2015, the DGF initiated the liquidation procedure of PJSC UKRAINIAN BANK OF DEVELOPMENT, appointed the DGF authorized officer and delegated to the officer the powers of PJSC UKRAINIAN BANK OF DEVELOPMENT liquidator.
Date when the bank liquidation was announced
On December 29, 2015, the official announcement of PJSC UKRAINIAN BANK OF DEVELOPMENT liquidation was published in the Holos Ukrainy newspaper.
Deposit payout period
From February 2, 2015 to January 27, 2021.
Liquidation procedure period
Liquidation procedure of PJSC UKRAINIAN BANK OF DEVELOPMENT lasted from December 23, 2015 to April 14, 2021.
Date of making an entry into the Unified State Register of Legal Entities and record number
On April 14, 2021, record # 1000741110031033435 on the state registration of PJSC UKRAINIAN BANK OF DEVELOPMENT 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).