On May 20, the Northern Commercial Court of Appeal once again confirmed the legality of the seizure of Ukrainian assets of the former owner of the bank Finance and Credit Kostiantyn Zhevaho, initiated by the Deposit Guarantee Fund (DGF).
This is announced in the fund's statement, Ukrainian News Agency reports.
The fund initiated the seizure to secure its claim against Zhevaho in the amount of UAH 46 billion for losses caused to the bank and its creditors, within the framework of case No. 910/268/23.
Thus, the court took into account the confirmation provided by the fund that the defendant did not comply with the requirements of the legislation, according to which the managers, owners of a significant stake and ultimate beneficial owners of an insolvent bank are obliged to provide the fund, upon its request, with information about all property (assets) and liabilities belonging to them (Article 52 of the Law "On the Deposit Guarantee System of Individuals"), and for a long time tried in various ways to hide the fact of possession of property belonging to him, at the expense of which the fund's claims may be satisfied in the future.
On January 4, 2023, the DGF filed a lawsuit with the Commercial Court of Kyiv against the owner of the bank "Finance and Credit" for compensation for losses of the bank and its creditors in the amount of almost UAH 46 billion.
These losses were incurred as a result of the systematic withdrawal of funds, in particular, systematic lending to companies related to Zhevaho without proper collateral and the transfer of loan funds to non-resident companies belonging to him.
These companies did not repay the loans received and most of them turned out to be insolvent.
The basis of the said claim of the Deposit Guarantee Fund was materials, documents and evidence collected earlier, during the preparation and consideration by the High Court of England and Wales of the case on the claim of the fund against the owner of the bank.
In this case, the English court recognized that there were sufficient grounds for the worldwide seizure of Zhevaho's assets and received his written undertaking not to evade participation in the legal proceedings in Ukraine; at the same time, the court concluded that it did not have jurisdiction to consider the case due to the need to apply Ukrainian legislation.
After receiving this decision, the Deposit Guarantee Fund filed a claim with the Commercial Court of Kyiv against the owner of the bank "Finance and Credit" on January 4, 2023 and initiated the seizure of its assets on March 1, 2023.
Currently, all Ukrainian assets of the former owner of the bank "Finance and Credit" remain under arrest, in particular:
- part of corporate rights in the amount of 50.3% of the authorized capital of PrJSC "POLTAVA MINING AND ENRICHING PLANT";
- part of corporate rights in the amount of 50.3% of the authorized capital of LLC "ERISTIVSKY MINING AND ENRICHING PLANT";
- part of corporate rights in the amount of 50.3% of the authorized capital of LLC "BILANIVSKY MINING AND ENRICHING PLANT", which are indirectly owned by Kostiantyn Zhevaho through FERREXPO AG.
- Currently, case No. 910/268/23 is under consideration in the court of first instance.
As Ukrainian News Agency earlier reported, President Volodymyr Zelenskyy, by a decree dated February 12, imposed NSDC sanctions against former President Petro Poroshenko, businessmen Ihor Kolomoiskyi, Hennadii Boholiubov, and Kostiantyn Zhevaho, a former member of the Verkhovna Rada, best man of russian dictator vladimir putin Viktor Medvedchuk. At the initiative of the State Bureau of Investigation, the property of fugitive oligarch Kostiantyn Zhevaho was transferred to the National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (Asset Recovery and Management Agency; ARMA).
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