DEPOSIT GUARANTEE FUND (DGF)
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PJSS «CB «INVESTBANK»

Briefing note on winding-up of PJSS «CB «INVESTBANK» by the DGF

Full name of the bank being liquidated
PUBLIC JOINT-STOCK SOCIETY «COMMERCIAL BANK «INVESTBANK»
Short name of the bank being liquidated
PJSS «CB «INVESTBANK»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated December 15, 2016 # 490-рш/БТ on Classification of PUBLIC JOINT-STOCK SOCIETY «COMMERCIAL BANK «INVESTBANK» 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 December 15, 2016 # 2856 on Introducing Provisional Administration in PJSS «CB «INVESTBANK» and Delegation of Powers of the Provisional Administrator.
Duration of provisional administration
December 16, 2016 through January 12, 2017, PJSS «CB «INVESTBANK» was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
Date when the deposit payout commenced
Payment of the guaranteed amount to the PJSS «CB «INVESTBANK»’s depositors commenced on January 16, 2017.
NBU resolution on liquidation
On January 11, 2017, the NBU Board approved Resolution # 17-рш on Revocation of the Banking License and Liquidation of PUBLIC JOINT-STOCK SOCIETY «COMMERCIAL BANK «INVESTBANK».
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On January 12, 2017, the DGF Executive Directorate issued Decision # 86 on Commencement of Liquidation Procedure of PJSS «CB «INVESTBANK» and Delegation of Powers 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 January 13, 2017, the DGF initiated the liquidation procedure of PJSS «CB «INVESTBANK», appointed the DGF authorized officer and delegated to the officer the powers of PJSS «CB «INVESTBANK» liquidator.
Date when the bank liquidation was announced
On January 17, 2017, the official announcement of PJSS «CB «INVESTBANK» liquidation was published in the Holos Ukrainy newspaper.
Liquidator of the PJSS «CB «INVESTBANK»
From March 18, 2021, the powers of PJSS «CB «INVESTBANK» 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.
Special powers of the DGF in terms of recovering damages (losses) 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;
- identifying 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).