The results of the unscheduled inspection by the National Bank of Ukraine, which was the basis for the decision on the problematic status and then on the insolvency of JSC Megabank, were declared illegal by the court on the eve of the full-scale invasion of the Russian Federation, writes Ministry of Finance.
The results of the NBU's unscheduled inspection, which led to the decision to declare Megabank JSC insolvent and subsequently insolvency, were declared illegal by the court on the eve of Russia's full-scale invasion.
The controversial unscheduled inspection at Megabank JSC took place in the fall of 2021. Recognizing its illegality, the bank's management filed a lawsuit in the Kharkiv District Administrative Court.
On the eve of a full-scale war, on February 22, the court upheld the bank's claim and declared the regulator's inspection and its decision illegal.
Alexey Yatsenko, Chairman of the Supervisory Board and Chairman of the Management Board of Megabank JSC from 2015 to 2021, spoke about this during a press conference on June 8.
According to him, the NBU declared the bank insolvent due to its failure to implement the measures it was required to take after being classified as problematic. The bank, in turn, was classified as problematic due to its failure to comply with a written request from the NBU following an unscheduled inspection. However, the results of that inspection were challenged in court.
"The National Bank's unscheduled inspection was invalidated by a court decision. Therefore, as soon as the courts resume operations in Kharkiv, the text of the decision will be published, and the countdown for filing an appeal by the NBU will begin. If this appeal is not filed, the decision will come into force. If the National Bank files an appeal and the bank wins the appeal, and subsequently the Supreme Court, the decision declaring the bank insolvent will be overturned. This will create a legal situation where the bank will be declared insolvent unlawfully," said Oleksiy Yatsenko.
He also added that the National Bank is aware of the court's decision; a representative of the regulator was present at the hearing and heard the final text of the decision.
"Therefore, in my opinion, we need to wait until the court settles this matter," added Alexey Yatsenko.
By topic: Megabank management denied accusations of blocking the work of the Deposit Guarantee Fund.
The National Bank of Ukraine (NBU) has classified MEGABANK JSC as insolvent.
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