15:01 19.11.2019

Bakhmatiuk denies NBU claims of UAH 29.3 bln debt to state

4 min read
Bakhmatiuk denies NBU claims of UAH 29.3 bln debt to state

The information about the debt of the owner of agricultural holdings UkrLandFarming and Avangard, Oleh Bakhmatiuk, in the amount of UAH 29.3 billion to the state is not true and it is manipulation, Bakhmatiuk has told Interfax-Ukraine and proposed to attract international advisors for independent assessment and developing joint solutions to settle the debt.

"Yesterday it was UAH 10 billion, today it is UAH 30 billion, and tomorrow it will be UAH 40 or UAH 50 billion. This is some hysteria on the part of the National Bank. These are not Bakhmatiuk's debts, these are the obligations of banks to which there is a debt of the former shareholder of VAB Bank Maksymov, there are debts of borrowers in Crimea, Donetsk and Luhansk and others," he said by phone, commenting on the NBU accusations.

Bakhmatiuk said that in relation to his bank Financial Initiative, a court decision on the illegal introduction of an interim administration is in effect.

The businessman added that out of UAH 7.7 billion of debts of his companies to state-owned banks, included by the National Bank in the total amount of UAH 29.3 billion, debts to Oschadbank and Ukrgasbank are restructured, and they are in a state of restructuring before Ukreximbank.

"Their desire to destroy is more than the desire to receive [back debts]. UAH 8 billion is a figure that could be repaid," Bakhmatiuk said, recalling that he formally sent a proposal to the Deposit Guarantee Fund to gradually repay this amount with UAH 1 billion per a year with a payment of UAH 500 million guarantee fee.

The businessman expressed the opinion that the NBU puts forward such accusations in order to shield the ex-employees of the National Bank suspected in the case of a VAB Bank stabilization loan of UAH 1.2 billion, in particular, First Deputy Governor of the NBU Oleksandr Pysaruk.

"But it doesn't turn out that Pysaruk is good when he gave a loan, and Bakhmatiuk is bad when he took it. Everything was done legally. If Pysaruk is not guilty, then I am innocent," Bakhmatiuk said.

He also denied the information about the litigation allegedly won by the National Bank on his personal guarantee. According to the businessman, some positive decisions for the NBU were made in relation to a number of real estate facilities, with which the National Bank now does not know what to do.

"They won poultry farms, a distillery, but they do not know what to do with it. Imagine: 500,000 chickens are sitting, what will the National Bank do with it?" the owner of agricultural holdings said, describing the situation. He said that such a policy leads to depreciation collateral and losses by the state.

He also said that in any case, complaints of the sluggish enforcement of court decisions should not be presented to him, but to the State Enforcement Service.

Bakhmatiuk also sharply criticized the National Bank for the inequality of approaches.

"Publish data on all debtors: start with the largest and end with the smallest. Why do you mention only Bakhmatiuk? Write to everyone! Does someone else return the money? At least I try," the former owner of VAB Bank and the Financial Initiative Bank said.

Once again, he called on the National Bank and the state to create the rules of the game and sit at the negotiating table to resolve the debt through its restructuring.

The NBU on Friday published an infographic in which it states that Bakhmatiuk owes UAH 11 billion to the Deposit Guarantee Fund, UAH 10.6 billion to the central bank for refinancing loans, and UAH 7.7 billion to three state-owned banks. The National Bank recalled that the debt of the ex-owner of VAB Bank and bank Financial Initiative on refinancing loans was secured by his personal guarantee for repayment in the total amount of UAH 8.6 billion and property guarantees of Bakhmatiuk's companies.

The central bank added that out of over 50 lawsuits filed as of November 15 of this year, 19 court decisions on surety agreements with respect to bank Financial Initiative were made in favor of the NBU and entered into legal force, while there are no decisions regarding the VAB bank.