The Client’s interests protected as the opponents’ claims to collect about UAH 250 million were dismissed

Project Partner:

Project team: Evgenii Rymar, Diana Vasylevych, Anastasiia Pekar

The Onopenko & Partners team has been defending Ukrainian manufacturer Obolon for more than four years in a number of disputes before Ukrainian courts concerning the recovery of debts under the loan portfolios of Ukrinbank PJSC.

After the Firm’s attorneys celebrated another victory in the Joint Chamber of the Supreme Court in case No. 10910/8117/17, UKRINKOM PJSC, a self-proclaimed legal successor of the banking institution made another attempt to collect money from Obolon PrJSC but this time through a financial company controlled by it.

The Onopenko and Partners team has managed to defend the Client owing to its hard work and diligence.

The Northern Commercial Court of Appeal upheld the arguments of Obolon PJSC and dismissed the claim for recovery of around UAH 250 million from the Client in favor of the financial company.

The attorneys have proved their case that a bank may terminate its banking activities exclusively in the manner prescribed by the Law of Ukraine on Banks and Banking. Whether a bank has been liquidated or not, the banking laws mandate such bank to coordinate with the NBU any amendments to its articles of association. This requirement is valid no matter that the NBU resolved to categorize the bank as insolvent and then to revoke the license and liquidate the bank and that the Deposit Guarantee Fund decided to introduce temporary administration and, finally, to liquidate the bank. Therefore, no new banking institution emerged as result of Ukrinbank PJSC being renamed into Ukrinkom PJSC and, accordingly, the claim assignment agreements made subsequently were null and void by operation of Article 215(2) of the Civil Code of Ukraine and Article 36(3) of the Law of Ukraine on the Deposit Guarantee System for Individuals.

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