Kyiv's district administrative court on March 16, 2016 declared void and dismissed National Bank of Ukraine (NBU) resolution No. 934 dated December 24, 2015 on placing public joint-stock company Ukrinbank to the list of insolvent banks.

According to the court decision, the court obliged the NBU to give 95 days to the bank to restore its solvency as prescribed by Ukrainian law.

The court also declared void and revocable the decision of the executive directorate of the Individuals' Deposit Guarantee Fund dated December 24, 2015. The decision introduced temporary administration at the bank.

A minority shareholder in Ukrinbank filed the claim to the court. The shareholder said that the NBU violated the requirement of providing 180 days to troubled banks to restore its solvency. According to the claimant, the central bank did not have right to declare bank insolvent earlier than the term expired, but the regulator violated the term.

According to the court ruling, the NBU-appointed temporary administrator was introduced to Ukrinbank on September 22, 2015, and on October 1, 2015 the bank was declared a troubled bank. The bank had time until March 2016 to restore its solvency.

The bank's press service told Interfax-Ukraine that on December 14, 2015 the NBU registered a loan agreement dated November 24, 2015. The investor was to have injected $21 million to the bank's capital. Ukrinbank sent a letter to the NBU saying that the bank needed until January 1, 2016 to register the deal and for the investor's funds arrive at the bank. However, on December 24, 2015 the NBU declared the bank insolvent.

Ukrinbank was founded in 1989. Its largest shareholder on July 10, 2015 was Volodymyr Klymenko (71.1514%).

Ukrinbank ranked 27th among 123 operating banks in the country on October 1, 2015 by total assets (UAH 5.832 billion), according to the NBU.