Credit Bank Dnipro Bank's position regarding the arrest of one of the correspondent accounts of the financial institution

07 October 2016

The arrest of our bank's correspondent account with the NBU clearly indicates the imbalance in the decisions made within the framework of this case and demonstrates the imperfection of the current judicial system in Ukraine.

These events take place within the framework of a long-term litigation with a large unscrupulous borrower, who today is a people's deputy and has been struggling to avoid paying his multi-million dollar debts for several years.

Credit Dnepr Bank in this case acts exclusively in the legal field and appeals against all illegal decisions and actions in the established procedure. Therefore, we promptly sued and sent to the Ministry of Justice and the Cabinet of Ministers, law enforcement agencies complaints about the actions of the state executor regarding gross violation of the direct rule of part 4 of Article 59 of the Law "On Banks and Banking", which explicitly prohibits the imposition of arrest on correspondent bank accounts.

In addition, we have every reason to state that the consideration of this case and decision-making at all stages (including the recent unrecorded decision to write off the amount of $ 4.5 million in favor of the debtor) occurred with numerous gross violations, among which, apart from the latter: unprecedented, ungrounded and contrary to the legislative prohibition of last year's attachment to the correspondent account of the financial institution, the illegality of which was confirmed by high-level judicial authorities at the stage of consideration of the case; groundless rejection of petitions, objections and evidence provided by the bank; the appointment of questionable examinations in violation of their rules of conduct and much more.

Since we are confident in the legality of our own positions and believe that any unlawful actions should be brought to an end, the bank appealed to the law enforcement authorities with complaints and related petitions to this effect. We are not going to end the impunity of unscrupulous borrowers to avoid their obligations, which causes significant damage not only to a specific bank, but also to the entire Ukrainian economy. The international community represented by independent members of our Bank's Supervisory Board supports our position - leading world economists, financiers and politicians, Dominique Strauss-Kahn, Anders Auslund, Alex Munteanu, Jean-Pierre Saltiel, who are committed to the irreconcilable position in the fight against corruption, have sent Appealing to the first persons of the state, expressing concern not only of unprecedented events within the framework of this case, but also of the risks that the image and business reputation of the country as a whole may be affected.

We have challenged all wrongful acts and decisions and will defend our position in all instances. We are confident that such shameful litigation can not be a norm for the justice bodies in Ukraine, and we hope that the judicial reform that began on September 30, 2016 will not be profane and will be able to prove its effectiveness.

At the same time, the high level of liquidity of the bank and constant full support of the shareholder allow the financial institution to continue the current work, fulfilling all obligations, and develop in accordance with previously approved plans.


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