Court Confirms NBU's Right To Forcibly Sell Property Of Kyiv Shipbuilding And Ship Repair Plant

The court finally confirmed the right of the National Bank of Ukraine (NBU) to forcibly sell the property of PJSC Kyiv Shipbuilding and Ship Repair Plant outside the bankruptcy procedure.

This is stated in the message of the NBU, Ukrainian News Agency reports.

The National Bank of Ukraine was given the opportunity by court decision to complete the forced sale of the property of PJSC Kyiv Shipbuilding and Ship Repair Plant outside the bankruptcy procedure.

This became possible thanks to the decision of the Northern Economic Court of Appeal, which on March 15, 2023, left unchanged the decision of the Kyiv Economic Court of October 3, 2022.

With this decision, the court, at the request of the National Bank, granted permission for the sale of the property of PJSC Kyiv Shipbuilding and Ship Repair Plant outside the bankruptcy procedure within the scope of the executive proceedings.

According to Article 9 of the Code of Ukraine on Bankruptcy Procedures and conclusions of the Supreme Court, the resolution adopted by the Northern Economic Court of Appeal is not subject to cassation appeal.

Currently, enforcement proceedings are underway.

The property of PJSC Kyiv Shipbuilding and Ship Repair Plant will be put up for auction at a price that will be determined by the subject of the evaluation activity involved in accordance with the resolution of the state executor within the framework of executive proceedings.

As Ukrainian News Agency earlier reported, PJSC Kyiv Shipbuilding and Ship Repair Plant is the property guarantor for the obligations of the Finance and Credit Bank to the National Bank for a total amount of over UAH 4 billion.

In 2009-2010, the plant entered into mortgage and pledge agreements with the National Bank to ensure the fulfillment of obligations under refinancing loans granted to the bank.

As the loan obligations were not fulfilled, the National Bank applied to the court for the purpose of foreclosing on the property in court.

These are non-residential buildings with a total area of 43,440.9 square meters and movable property owned by PJSC Kyiv Shipbuilding and Ship Repair Plant and located at the following address: Kyiv, 8, Naberezhno-Luhova Street.

The total amount of outstanding debt of the Finance and Credit Bank to the National Bank for refinancing loans amounts to UAH 6.2 billion.

On September 17, 2015, the National Bank of Ukraine decided to classify the Finance and Credit Bank as insolvent.

At the time of this decision, the shareholder of the bank was Kostiantyn Zhevaho, who indirectly owned a share of 97.67% of the shares.

Former member of the Verkhovna Rada and businessman Kostiantyn Zhevaho posted bail of EUR 1 million euros and was released from custody.

The State Bureau of Investigation and the Office of the Prosecutor General have sent a request to the Principality of Monaco for the extradition to Ukraine of the former Member of Parliament and businessman Kostiantyn Zhevaho.