The Kyiv Economic Court has satisfied the petition of the Individual Deposit Guarantee Fund, recognizing the agreement under which Delta Bank assets (before declaring it insolvent) worth UAH 450 million were passed as a collateral to Oschadbank illegal, according to the fund's website.

The court made the relevant ruling on November 9, 2016.

The fund noted Delta Bank in 2010 signed contracts of pledge and mortgage, which provided fulfillment of obligations to Oschadbank under the agreement on opening and maintaining correspondent accounts. In particular, among the collateral there was an agreement dated February 25, 2015, whose pledge subject were property rights under the loan agreements signed by Delta Bank with large borrowers for more than UAH 450 million. The fund recognized this legal action useless, afterwards it went to court.

As reported, the National Bank of Ukraine on October 2, 2015 at the suggestion of the fund decided to revoke the banking license and liquidate Delta Bank.

The amount of the bank's obligations to individuals on April 1, 2015 totaled UAH 28.97 billion, in particular in foreign currency UAH 18.18 billion.

Bank Delta depositors as of the beginning of June 2016 received UAH 15.468 billion within the deposit guarantee system for the period of temporary administration and liquidation of the financial institution.