DEPOSIT GUARANTEE FUND (DGF)
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PJSC “VECTOR BANK”

Briefing note on winding-up of the PJSC “VECTOR BANK” by the DGF

Full name of the bank being liquidated
PUBLIC JOINT-STOCK COMPANY “VECTOR BANK”
Short name of the bank being liquidated
PJSC “VECTOR BANK”
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated March 2, 2017 # 112-рш/БТ on Classification of the PUBLIC JOINT-STOCK COMPANY “VECTOR 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, 2017 # 853 on Introducing Provisional Administration in the PJSC “VECTOR BANK” and Delegation of Powers of the Provisional Administrator.
Duration of provisional administration
March 3, 2017 through March 21, 2017, PJSC “VECTOR BANK” was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation
On March 21, 2017, the NBU Board approved Resolution # 163-рш on Revocation of the Banking License and Liquidation of the PUBLIC JOINT-STOCK COMPANY “VECTOR BANK”.
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On March 22, 2017, the DGF Executive Directorate issued Decision # 1104 on Commencement of Liquidation Procedure of the PJSC “VECTOR 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 March 22, 2017, the DGF initiated the liquidation procedure of the PJSC “VECTOR BANK”, appointed the DGF authorized officer and delegated to him the powers of the PJSC “VECTOR BANK” liquidator.
Date when the bank liquidation was announced
On March 25, 2017, the official announcement of the PJSC “VECTOR BANK” liquidation was published in the Holos Ukrainy newspaper.
Liquidator of the PJSC “VECTOR BANK”
From January 25, 2021, the powers of the PJSC “VECTOR BANK” liquidator defined by the Law are carried out directly by the DGF.
Powers of the liquidator
All powers of the bank liquidator defined by the Law.
Deposit payout period
From March 31, 2017 to August 11, 2021.
Liquidation procedure period
Liquidation procedure of the PJSC “VECTOR BANK” lasted from March 22, 2017 to August 11, 2021.
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).