Kyiv's Pechersky district court on May 12 arrested all movable and immovable assets of Oleh Bakhmatiuk – the beneficiary of insolvent bank Financial Initiative. The assets were arrested under a claim of the National Bank of Ukraine (NBU) asking to collect a debt on the stabilization loan of UAH 4 billion provided to the bank, the regulator has reported on its website.

The regulator said that UAH 4 billion worth of stabilization loans were provided in 2014. The loans were collateralized against property and property rights of legal entities. Bakhmatiuk acted as a financial surety in the loans.

The NBU said that on June 23, 2015 the central bank placed bank Financial Initiative to the list of insolvent banks.

The NBU said in March it seeks to collect UAH 11.462 billion from the owners of banks that were declared insolvent acting as personal bail granters.

According to the NBU, the financial surety of Bakhmatiuk for VAB Bank is UAH 4.55 billion and for bank Financial Initiative – UAH 4 billion.

In addition, the central bank plans to win at court the refinancing collateral of bank Finance and Credit, which was the financial surety of UAH 1.45 billion.

The guarantor of IMEXBANK Klymov secured the NBU's credit by the financial surety of UAH 300 million and the Lustdorf sports complex, while Mykola Lahun, the guarantor of Delta Bank, secured the credit by offering land parcels worth UAH 768.848 million as collateral.