Briefing note on winding-up of the PUBLIC JOINT-STOCK COMPANY «UKRAINIAN PROFESSIONAL BANK» by the Deposit Guarantee Fund
Full name of the bank being liquidated | PUBLIC JOINT-STOCK COMPANY «UKRAINIAN PROFESSIONAL BANK» |
Short name of the bank being liquidated | PJSC «UPB» |
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank | NBU Board Resolution dated May 28, 2015 # 348 on Classification of the PUBLIC JOINT-STOCK COMPANY «UKRAINIAN PROFESSIONAL BANK» 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 May 28, 2015 # 107 on Introducing Provisional Administration in PJSC «UPB». |
Duration of provisional administration | May 29, 2015 through August 28, 2015, PJSC «UPB» 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 PJSC UPB’s depositors commenced on August 6, 2015. |
NBU resolution on liquidation | On August 28, 2015, the NBU Board approved Resolution # 562 on Revocation of the Banking License and Liquidation of the PUBLIC JOINT-STOCK COMPANY «UKRAINIAN PROFESSIONAL BANK». |
DGF Executive Directorate’s decision on commencement of the liquidation procedure | On August 28, 2015, the DGF Executive Directorate issued Decision # 158 on Commencement of Liquidation Procedure of PUBLIC JOINT-STOCK COMPANY «UKRAINIAN PROFESSIONAL BANK» 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 31, 2015, the DGF initiated the liquidation procedure of the PJSC «UPB», appointed the DGF authorized officer and delegated to her the powers of the PJSC «UPB» liquidator. |
Date when the bank liquidation was announced | On September 3, 2015, the official announcement of the PJSC «UPB» liquidation was published in the Holos Ukrainy newspaper. |
Liquidator of the PJSC «UPB» | From August 27, 2020, the powers of the PJSC «UPB» 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 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). |