Novinsky's Forum Bank is trying by all means to stay afloat.

by Editor • 23.01.2015 • 0 Comments

As RBC-Ukraine reports, citing the press service of Smart-Holding, on Thursday, January 22, the Supreme Administrative Court of Ukraine (SACU) upheld the cassation appeal of Yernamio Consulting LTD, a part of oligarch Novinsky's Smart-Holding, to overturn the decision of the Deposit Guarantee Fund to liquidate Bank Forum.

The court considered Yernamio Consulting LTD's arguments and upheld its claims. Thus, the highest court recognized that the Deposit Guarantee Fund's decision to liquidate the bank was unlawful and had been made in violation of the law.

As a reminder, on May 27, 2014, the Deposit Guarantee Fund (DGF) decided to deny a private investor (Smart-Holding) the acquisition of Bank Forum and to liquidate the bank through the sale of its assets and liabilities. Later, the NBU also decided to revoke the banking license and liquidate PJSC Bank Forum.

Bank Forum was founded in 1994. According to the National Bank of Ukraine (NBU), as of January 1, 2014, Bank Forum ranked 24th among 180 Ukrainian banks in terms of total assets (UAH 10,404 billion). As of January 1, 2014, Smart Holding, through Yernamio Consulting LTD, owned 98,6764% of Bank Forum's authorized capital.

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