Photo: nekliaev.org
The Northern Commercial Court of Appeal has ruled in favour of the Deposit Guarantee Fund, satisfying a UAH 890.5 million claim against related parties of PJSC Bank Demark. This is reported by the press service of the Fund.
In case No. 927/252/21, the court confirmed the legality of the previous decision of the court of first instance, which fully satisfied the Fund’s claims for compensation for losses caused by the bank’s activities.
Before Demark Bank was declared insolvent, the National Bank of Ukraine found numerous violations in its lending policy, which resulted in losses of over UAH 1 billion. The bank was declared insolvent in September 2014, after which the DGF paid out almost UAH 994 million to its depositors.
“During the audit of the bank’s activities, it was found that in the period from 2013 to 2014, the bank’s board approved loans to 11 companies without proper collateral, which were ultimately not repaid,” – comments a representative of the Fund.
This situation caused large-scale losses in the amount of UAH 890.5 million, and the bank’s responsible officials were brought to justice for abuse of office and violation of banking regulations. The case continues to be investigated, and the detained individuals are under investigation to further compensate for the losses and restore order in the country’s banking system.
