insight-ukraine.org
The Individuals Deposit Guarantee Fund is unable to start carrying out payments of the ‘guaranteed amount’ to depositors of the insolvent Financial Initiative bank because of the court ruling, prohibiting the bank's liquidation, according to a posting on the fund's website.
As reported, the fund intends to appeal the decision and ask the court to clarify the possibility of enforcing the court ruling, while also not infringing the legislative requirements.
Read alsoOperating banks in Ukraine post UAH 52.2 bln loss since year's startAccording to the fund, during the procedure of the bank’s liquidation, 38,000 depositors of the General Register are entitled to payments of the guaranteed amount totaling UAH 1.94 billion, with UAH 1.84 billion having already been paid during period the provisional administration’s operations.