PJSC «UKRINBANK»

Briefing note on winding-up of PJSC «UKRINBANK» by the DGF

Full name of the bank being liquidated	PUBLIC JOINT-STOCK COMPANY «UKRAINIAN INNOVATION BANK»
Short name of the bank being liquidated	PJSC «UKRINBANK»
Resolution of the National Bank of Ukraine (NBU) declaring insolvency of the bank	NBU Board’s Resolution dated December 24, 2015 # 934 on Classification of PUBLIC JOINT-STOCK COMPANY «UKRAINIAN INNOVATION 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 December 24, 2015 # 239 on Introducing Provisional Administration in PJSC «UKRINBANK» and Delegation of Powers of the Bank Provisional Administrator.
Duration of provisional administration	From December 25, 2015 through March 22, 2016, PJSC «UKRINBANK» 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 PJSC «UKRINBANK»’s depositors commenced on February 4, 2016.
NBU resolution on liquidation	On March 22, 2016, the NBU Board approved Resolution # 180 on Revocation of the Banking License and Liquidation of PUBLIC JOINT-STOCK COMPANY «UKRAINIAN INNOVATION BANK».
DGF Executive Directorate’s decision on commencement of the liquidation procedure	On March 22, 2016, the DGF Executive Directorate issued Decision # 385 on Commencement of the Liquidation Procedure of PJSC «UKRINBANK» 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 March 23, 2016, the DGF initiated the liquidation procedure of PJSC «UKRINBANK», appointed the DGF authorized officer and delegated to the officer the powers of PJSC «UKRINBANK» liquidator.
Date when the bank liquidation was announced	On March 29, 2016, the official announcement of PJSC «UKRINBANK» liquidation was published in the Holos Ukrainy newspaper.
Liquidator of PJSC «UKRINBANK»	The DGF through the authorized officer under the Law.
Authorized officer	Artem Y. Karachentsev, Lead Asset Management and Bank Liquidation Specialist of the Bank Liquidation Procedures Division, DGF Bank Liquidation Department.
Powers of the liquidator	Powers of the liquidator defined by the Law, particularly, by Articles 37, 38, 47-52, 521, 53, provide that the liquidator shall enjoy the right to sign any agreements related to the sales of the bank’s assets in the manner prescribed by this Law, except for the powers to apply to a bank related party with a claim for damages and file such claim to the court, a claim to a non-banking financial institution, which raised the funds from an individual as a loan or a contribution legally equivalent to deposits as well as the powers to organize the asset sales for the bank prior to the moment when the bank termination record is made in the Unified State Register of Legal Entities, Sole Proprietors and Public Associations.
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).