The Higher Business Court of Ukraine has upheld the ruling of the business court of Kyiv on the collection of UAH 228.14 million of credit rates under a Bank Nadra (Kyiv) credit agreement in favor of the State Mortgage Institution (SMI).

The SMI said in a report issued on Thursday that the ruling was issued on March 12, 2015.

The institution said that in 2009-2015 SMI had demanded in the courts the collection of the credit rates from Nadra Bank.

The Public Prosecutor's Office in Kyiv on August 1, 2014 in the interests of SMI filed a claim with the court and the court subsequently obliged the defender – Bank Nadra – to pay the above-mentioned sum to SMI. The ruling was challenged by representatives of the bank.

The credit was issued on October 15, 2008 for the period until April 10, 2009: on March 23, 2009 the credit sum was revised to UAH 693.6 million, which was only returned in late January 2013.

Bank Nadra was founded in 1993 and is part of Group DF owned by Dmytro Firtash.