The court left in force the decision of national Bank of insolvency of the Bank “Financial initiative”

Суд оставил в силе решение НБУ о неплатежеспособности банка "Финансовая инициатива"

The building of the National Bank of Ukraine, archival photo

Kyiv administrative court of appeal granted the appeal of the National Bank of Ukraine on the decision of the court of first instance on cancellation of NBU Board resolution № 408 “On the attribution of PJSC” CB “Financial initiative” in the category of insolvent “. About it reports a press-service of the NBU.

According to a report in the court as the official representative of the NBU Valeria Gontareva made, which said that the Bank at the time of this decision, lost liquidity and capital resources, committed gross infringement of the legislation on issues of cash circulation and not timely fulfill obligations to depositors and other creditors, in particular, for the refinancing of the NBU.

Also, the NBU drew the court’s attention to the fact that there is no legislation that would allow to restore the activity of the Bank, which has already been declared insolvent, and the return paid to depositors of such a Bank, the Fund of guaranteeing the deposits of individuals.

Related news: the national Bank decided to liquidate “Artem-Bank”

We will remind that on 24 June 2015, the NBU has declared insolvent commercial Bank “Financial initiative”.

Later, the Bank appealed this decision, and the court declared illegal the decision of the NBU attributed the Bank “Financial initiative” insolvent.

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