Information for Creditors

CREDITORSCLAIMS

“CREDITOR” shall be understood as a legal entity or an individual holding documented claims to the bank’s property liabilities.

After the withdrawal of the banking license and liquidation of failed bank, the bank creditors have the right to file their claims on bank to the DGF.  

To do so the creditors must send to the address of the DGF or DGF Authorized Officer their applications and the copies of the supporting documents. 

The claims should be submitted within thirty days of the publication of the information on withdrawal of the banking license, liquidation of the bank in “Holos Ukrayiny” or “Uriadovyi Kurier” newspaper.

Any claims submitted after the above deadline shall be deemed repaid, except for claims of depositors within the coverage guaranteed by the DGF.

Information on the date of the liquidation announcement publication and the address for where to send your claim can be found on the bank’s page on the DGF website.

WHAT INFORMATION SHOULD BE SPECIFIED IN YOUR CLAIM

Application for including your claim in the register of the accepted creditors’ claims may be prepared in a free format but must include:

For individuals:

Full name of the creditor, registration number of the taxpayers’ card (if any), present address, date and signature

For legal entities:

Name of the company, organization or agency, form of incorporation, company registry code, full name of the chief executive.

Copies of the supporting documents, e.g. deposit agreement or bank account statements, should be attached to the application.

CREDITORS’ CLAIMS REGISTER FORMATION AND PRIORITY OF CLAIMS

Within ninety days of the liquidation announcement the DGF shall perform the following:

  • calculate the amount of debt owed to each of the creditors and assigns the claims to the relevant level of payoff priority;
  • dismiss claims if they are not confirmed by the actual data available to the DGF and, if necessary, present an objection with regard to creditors’ claims to the bank in accordance with the procedure established by the legislation; 
  • make the register of accepted creditors’ claims in accordance with requirements of regulations of the DGF.

The register of accepted creditors’ claims and changes to the register shall be subject to approval by the DGF Executive Directorate.

The DGF notifies creditors of the acceptance of their claims within 20 days of the approval of the register by means of the publication of the notice on the official DGF website and in the premises of failed bank.

To receive confirmation regarding acceptance of your claim contact the bank.

ANY DISPUTES AS REGARDS TO ACCEPTING THE CREDITORS’ CLAIMS SHALL BE RESOLVED IN COURT.

Funds obtained as a result of the liquidation and sale of the bank’s property (assets) shall be used by the DGF for the satisfaction of claims of creditors in the following priority sequence:

  1. liabilities, which have come into existence as a result of the infliction of the          damage to the life and health of individuals;
  2. pecuniary liabilities related to wages and salaries, which have come into     existence from the bank’s liabilities to employees before the decision to revoke    the banking license and liquidate the bank;
  3. claims of the DGF, which have come into existence in events specified by          Households Deposits Guarantee System Law;
  4. claims of individual depositors (including sole traders) who are not related          parties of the bank to the extent exceeding the amount disbursed by the DGF;
  5. claims of the National Bank of Ukraine, which have come into existence as a          result of the reduction in the value of the collateral provided to secure refinancing          credit facilities;
  6. claims of individuals, including sole traders, not being related parties of the         bank whose payments or payments to whom have been blocked;
  7. claims of other depositors, not being related parties of a bank, and legal entities being clients of the bank (not being related parties of a bank);
  8. other claims, other than the subordinated debt claims;
  9. claims of related creditors of the bank (individuals, including sole traders, and     legal entities);
  10. the subordinated debt claims.

The claims of each subsequent priority shall be satisfied upon the receipt of the proceeds from the sale of the property (assets) of the bank after the complete satisfaction of claims of the preceding priority.       

If the funds derived from selling the estate (assets) of the failed bank are not sufficient for meeting all the claims of the same priority grade, the claims shall be met in proportion to the amount of claims held by each creditor in the said priority grade.

Claims that have not been included in the register of accepted creditors’ claims shall not be subject to satisfaction in the course of the liquidation procedure.

Claims on a bank not met due to the lack of its property shall be deemed extinguished.