DEPOSIT GUARANTEE FUND (DGF)
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PJSC CB “EUROBANK”

Briefing note on winding-up of the PJSC CB “EUROBANK” by the DGF

Full name of the bank being liquidated
PUBLIC JOINT STOCK COMPANY COMMERCIAL BANK “EUROBANK”
Short name of the bank being liquidated
PJSC CB “EUROBANK”
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank
NBU Board Resolution dated June 17, 2016 # 73-рш on Classification of the PUBLIC JOINT STOCK COMPANY COMMERCIAL BANK “EUROBANK” 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 June 17, 2016 # 1041 on Introducing Provisional Administration in the PJSC CB “EUROBANK” and Delegation of Powers of the Provisional Administrator.
Duration of provisional administration
June 17, 2016 through August 16, 2016, PJSC CB “EUROBANK” was under provisional administration. The DGF carried out the provisional administration through the authorized officer.
NBU resolution on liquidation
On August 16, 2016, the NBU Board approved Resolution # 215-рш on Revocation of the Banking License and Liquidation of the PUBLIC JOINT STOCK COMPANY COMMERCIAL BANK “EUROBANK”.
DGF Executive Directorate’s decision on commencement of the liquidation procedure
On August 16, 2016, the DGF Executive Directorate issued Decision # 1523 on Commencement of Liquidation Procedure of the PJSC CB “EUROBANK” 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 August 17, 2016, the DGF initiated the liquidation procedure of the PJSC CB “EUROBANK”, appointed the DGF authorized officer and delegated to him the powers of the PJSC CB “EUROBANK” liquidator.
Date when the bank liquidation was announced
On August 20, 2016, the official announcement of the PJSC CB “EUROBANK” liquidation was published in the Holos Ukrainy newspaper.
Date when the deposit payout commenced
Payment of the guaranteed amount to the PJSC CB “EUROBANK”’s depositors commenced on August 19, 2016.
Liquidator of the PJSC CB “EUROBANK”
From August 3, 2020, the powers of the PJSC CB “EUROBANK” liquidator defined by the Law are carried out directly by the DGF.
Powers of the liquidator
All powers of the bank liquidator defined by the Law.
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;
- 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).