The National Bank of Ukraine says former owners of PrivatBank Ihor Kolomoiskyi and Hennadii Boholiubov have failed to meet their commitments on restructure of loans of PrivatBank.
This is said in the comments of the National Bank of Ukraine, Ukrainian News Agency reports.
"The term of voluntary restructuring of loans of former owners of the PJSC PrivatBank expired on 1 July 2017. Now one may state that former owners failed to fulfill their obligations," reads the statement.
Thus, the State and PrivatBank have moved to a legal procedure for the repossession and application of an appropriate legal strategy, the specific steps of which can not be disclosed now.
The banking procedure will be similar to the usual procedure for repossession in case of overdue debts, so it is more about foreclosure.
As Ukrainian News Agency earlier reported, on December 18, 2016, the Cabinet of Ministers of Ukraine decided to enter the capital of PrivatBank.
In compliance with the decision, the state represented by the Ministry of Finance of Ukraine became the owner of the 100-percent stake in the bank and PrivatBank was additionally capitalized for UAH 116.8 billion.
During the nationalization Ihor Kolomoiskyi and Hennadii Boholiubov committed to restructure loans to related legal entities before July 2017.
The requirement is fixed in the memorandum between the government and the International Monetary Fund.
PrivatBank has signed an agreement with the consortium consisting of the Rothschild & Co financial holding company, the FinPoint independent investment and bank company and the Ernst & Young audit and consulting company on negotiations on restructuring of loans of former stockholders of the bank.
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