JSC «BANK GOLDEN GATE»

Briefing note on winding-up of JSC «BANK GOLDEN GATE» by the DGF

Full name of the bank being liquidated	PUBLIC JOINT STOCK COMPANY «BANK GOLDEN GATE»
Short name of the bank being liquidated	JSC «BANK GOLDEN GATE»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank	NBU Board’s Resolution dated July 31, 2014 # 456 on Classification of PUBLIC JOINT STOCK COMPANY «BANK GOLDEN GATE» to the Category of Insolvent.
Decision of the Deposit Guarantee Fund’s (hereinafter – the DGF) Executive Directorate introducing provisional administration in the bank	The DGF Executive Directorate issued Decision dated August 01, 2014 # 67 on Introducing Provisional Administration in JSC «BANK GOLDEN GATE».
Duration of provisional administration	From August 4, 2014 through December 4, 2014, JSC «BANK GOLDEN GATE» was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
The manner in which insolvent JSC «BANK GOLDEN GATE» was withdrawn from the market	On November 28, 2014, the DGF signed an agreement on the transfer of part of the assets and liabilities of insolvent «BANK GOLDEN GATE» in favor of the assuming bank – PJSC CB «STANDART» with subsequent liquidation of JSC «BANK GOLDEN GATE». According to the agreement, PJSC CB «STANDART» acquired all the debtor’s rights and obligations of insolvent JSC «BANK GOLDEN GATE» to the depositors (individuals) in terms of recovery of funds and payment of interest up to UAH 200,000 under bank account/deposit agreements concluded by JSC «BANK GOLDEN GATE».
NBU resolution on liquidation	On December 4, 2014, the NBU Board approved Resolution # 781 on Revocation of the Banking License and Liquidation of PUBLIC JOINT STOCK COMPANY «BANK GOLDEN GATE».
DGF Executive Directorate’s decision on commencement of the liquidation procedure	On December 5, 2014, the DGF Executive Directorate issued Decision # 142 on Commencement of the Liquidation Procedure of JSC «BANK GOLDEN GATE» and Appointment of the Bank Liquidator. In accordance with Subparagraph 1 of Part 2 of Article 46 of the Law of Ukraine on the Household Deposit Guarantee Scheme (hereinafter – the Law), from the starting day of the bank liquidation procedure terminated shall be all the powers of the bank governance bodies (general meeting, supervisory board and management board) and bodies of control (audit committee and internal audit). Senior managers of the bank are dismissed in connection with the bank liquidation.
Starting day of the bank liquidation	On December 5, 2014, the DGF initiated the liquidation procedure of JSC «BANK GOLDEN GATE», appointed the DGF authorized officer and delegated to the officer the powers of JSC «BANK GOLDEN GATE» liquidator.
Date when the bank liquidation was announced	On December 10, 2014, the official announcement of JSC «BANK GOLDEN GATE» liquidation was published in the Holos Ukrainy newspaper.
Liquidator of JSC «BANK GOLDEN GATE»	From November 28, 2019, the powers of JSC «BANK GOLDEN GATE» liquidator defined by the Law are exercised directly by the DGF.
Powers of the liquidator	All powers of the bank liquidator defined by the Law.
Liquidation procedure period	Liquidation procedure of JSC «BANK GOLDEN GATE» lasted from December 5, 2014 to August 8, 2022.
Deposit payout period	From October 15, 2014 to August 8, 2022.
Special powers of DGF in terms of recovering damages (loses) caused to the bank and/or its creditors	According to Part 7 of Article 52 of the Law, the DGF enjoys the right to apply to courts of an appropriate jurisdiction (including foreign courts) with a lawsuit seeking damages (losses) caused to the bank in case of: - finding the decisions, actions or omissions resulted in damages (losses) to the bank and/or its creditors; - the persons who contributed to such decisions-making, actions or omissions and/or received pecuniary benefits; - determining the amount of damages (losses) suffered. DGF enjoys the right to file such lawsuits with the courts of an appropriate jurisdiction (including foreign courts) during the bank liquidation procedure and three years after making the bank termination record (special statute of limitations)