11:09 17.08.2016

Court voids decision to collect UAH 144 mln from Ukrgasbank

2 min read
Court voids decision to collect UAH 144 mln from Ukrgasbank

Ukraine's higher business court on August 16 voided a decision of Kyiv's business court of appeals dated June 29, 2016 ordered to collect UAH 144.06 million from state-run Ukrgasbank (Kyiv) in favor of Ukrconcept, the bank has said in a press release.

"Ukraine's higher business court voided the ruling of Kyiv's business court of appeals in case No. 910/16631/14 on collection of UAH 144.06 million from Ukrgasbank in favor of Ukrconcept LLC. The enforcement proceeding is to be closed. The ruling to arrest funds is to be voided, and payment demand orders on the forced writing off of amounts from Ukrgasbank's account are retracted," the bank said.

The bank recalled that on July 29, 2016, an attempt to seize state-owned funds of almost UAH 159 million was made via arresting Ukrgasbank's accounts.

Representatives of Ukraine's Prosecutor General's Office and Finance Ministry supported the bank's position at a meeting of the higher business court.

On August 3, 2016, Ukraine's higher business court suspended a decision to execute the verdict of Kyiv's economic court of appeals dated June 29 arresting accounts of Ukrgasbank.

Ukrgasbank was created in 1993. By January 2016 the state owned 94.9409% of its shares.

Ukrgasbank ranked seventh among 109 operating banks in the country on April 1, 2016 in terms of assets (UAH 48.903 billion), according to the National Bank of Ukraine.

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