​Court Sequestrates Bank Forum Co-Owner, Businessman Novinsky's Property Worth UAH 4.467 Billion

On June 13, the National Bank of Ukraine decided to liquidate Bank Forum.

(Ukrainian News, Viktor Riasnyi, 08/11/2014) The Pecherskyi District Court of Kyiv has sequestrated UAH 4,466.730 million worth of property of Bank Forum co-owner, businessman and Member of Parliament Vadim Novinsky (Party of Regions faction) as a pre-award relief under a suit lodged by the Private Deposit Guarantee Fund, reads the Court's ruling in the case 757/16901/14-ц of July 23.

"To sustain the application for interim relief [filed by the Deposit Guarantee Fund]. To put a lien to the extent of the plaintiff's financial claims amounting to UAH 4,466,730,365.30 on [Novinsky's] property amounting to UAH 4,466,730,365.30," the ruling said.

Moreover, by the July 9 ruling the Court sequestrated USD 50 million of funds of the Cyprus-based company Yernamio Consulting Ltd, a stockholder of Bank Forum.

Total amount in dispute claimed by the Deposit Guarantee Fund is UAH 5.05 billion, so apart from sequestrating Yernamio Consulting funds the tribunal also decided to sequestrate Novinsky's property for security of the Fund's claim.

The Court underlines, the Deposit Guarantee Fund as a plaintiff in the case notified that the Bank Forum owners failed to take measures on follow-on capitalisation of the financial institution and resuming its financial solvency, what prejudice depositors' interests.

The Fund believes the threat of Bank Forum owners evading execution of judgements was real, what demanded sequestration of their property.

As Ukrainian News earlier reported, in July Novinsky's company Smart Holding said it would challenge liquidation of Bank Forum at courts.

Smart Holding underlines, the Deposit Guarantee Fund's lawsuit has shady juridical perspective, and is a tool of influence on the company.

On June 13, the National Bank of Ukraine decided to liquidate Bank Forum.

Yernamio Consulting Limited (Cyprus) owns 98.77% of shares in Forum.

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Источник : Українські новини
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