The court did not grant the NBU permission to liquidate Ukrinbank.

by Editor • 02.09.2016 • 0 Comments

The Supreme Administrative Court of Ukraine rejected the NBU's cassation appeal against the liquidation of Ukrinbank, according to FinClub, citing a clarification from the NBU.

It was reported that the higher court upheld the decisions of the courts of first and second instance, which had denied the regulator the right to liquidate the commercial bank. Therefore, the National Bank must comply with the decision of the Kyiv District Administrative Court of April 29, 2016, within the timeframes specified in Article 170 of the Code of Administrative Procedure.

As a reminder, the NBU placed UkrInBank under temporary administration on December 24, 2015. Subsequently, the decision was made to liquidate the financial institution. However, the bank's owner and largest shareholder, Volodymyr Klymenko, appealed the regulator's decision in court. Ultimately, courts at all three levels upheld the plaintiff's decision and denied the National Bank permission to liquidate UkrInBank.

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