Finance and Credit Bank's ex-owner Zhevago loses US$55.5 mln in litigation with central bank

REUTERS The Supreme Court of Ukraine has upheld the ruling of Kyiv&#39;s Court of Appeal to recover from former owner of Finance and Credit Bank Kostyantyn Zhevago UAH 1.5 billion (US$55.5 million) in debt on refinancing loans in favor of the National Bank of Ukraine (NBU). The relevant ruling dated April 14 was published on the website of the register of judicial decisions. In particular, the Supreme Court ruled that the court of appeal had come to the correct conclusion. In particular, within the period set by the court, the appellant failed to eliminate the default of the appeal and to pay court fees. Moreover, the applicant has taken no action pursuant to court requirements since receiving court ruling to take no action on the appeal. Read alsoNBU starts forced recovery of US$64.4 mln from Finance and Credit Bank&#39;s ex-owner Zhevago Thus, the Supreme Court has upheld the ruling of Kyiv&#39;s Court of Appeal dated December 13, 2019, to return to Zhevago his appeal against the ruling of Kyiv&#39;s Shevchenkivsky district court dated October 1, 2019, to satisfy the NBU&#39;s lawsuit. It is noted that the judgment handed down by the court of cassation is final and not subject to appeal. 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 and F&C Realty controlled by Kostyantyn Zhevago. The National Bank of Ukraine made a decision on withdrawal of a banking license and the liquidation of Finance and Credit Bank in December 2015. A temporary administration was installed at the bank on September 18, 2015, after the National Bank had designated the financial institution as insolvent.

Finance and Credit Bank's ex-owner Zhevago loses US$55.5 mln in litigation with central bank

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