REUTERS
The court ruling has come into force.
The National Bank of Ukraine (NBU) has appealed to the State Executive Service to enforce the final decision of Kyiv's Shevchenkivsky district court to recover from former owner of Finance and Credit Bank Kostyantyn Zhevago UAH 1.5 billion (US$64.4 million) of debt on refinancing loans.
Kyiv's Court of Appeal returned the appeal submitted by Zhevago without consideration due to non-payment of the court fee within the time period set by the court, the NBU said on its website.
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The NBU says today the total debt of Finance and Credit Bank to the NBU for all refinancing loans is UAH 6.6 billion (US$283.7 million), and this debt will be partially repaid by recovering funds directly from Zhevago as a financial guarantor and by recovering the property of guarantor companies he controls.
UNIAN memo. Kyiv-based Finance and Credit Bank has been operating in Ukraine since 1990. It was one of the largest banks in terms of assets. The main shareholders of the bank were Ascania Group of Companies (46.50% stake) and F&C Realty (49.97% stake) controlled by Kostyantyn Zhevago.
The National Bank of Ukraine made a decision on the withdrawal of a banking license and liquidation of Finance and Credit Bank on December 17, 2015. An interim administration was installed at the bank on September 18, 2015, after the National Bank designated the financial institution as insolvent.