The court declared illegal the decision of the National Bank to liquidate the Bank "Concord" - Sosedka

The Dnipropetrovsk District Administrative Court declared illegal and overturned the decision of the National Bank of Ukraine to revoke the license and liquidate Concord bank. This was reported by the co-owner of the financial institution Elena Sosedka, writes UNN.

In August, it will be a year since the National Bank of Ukraine decided to revoke the license of Concord bank. For almost a year, the team and I have been fighting with all available legal methods to restore the rights that, in our opinion, were violated. And now we have won an important victory - the Dnipropetrovsk District Administrative Court declared illegal and decided to cancel the decision of the Board of the National Bank of Ukraine of 01.08.2023 No. 265-RSH " on revocation of the banking license and liquidation of Joint-Stock Company "Joint-Stock Commercial Bank "Concord"

According to her, in their decision, the judges relied on the practice of the ECHR and referred to the convention for the protection of human rights and freedoms. "This is important, because the judges pointed out that the revocation of Concord's banking license is an interference with the right to peaceful possession of property. Property rights are fundamental human rights, and each of us is protected from arbitrary interference in them by, among other things, the state. It is important for everyone to remember this," the Sosedka stressed.

At the same time, according to her, such restoration of justice and cancellation of the NBU's decision will not return Concord bank. After all, according to Ukrainian legislation, even declaring illegal the regulator's decision to revoke the license and liquidate the bank does not restore the position of the bank that existed before the order to liquidate it.

"But we still have the right to compensation for the damage caused. We continue to move forward. We also fulfill the promise we made to you, our clients – friends and partners - that the bank's liquidation will be transparent," the Sosedka stressed.

Recall

Despite the war in Ukraine, the process of withdrawing banks from the market has not stopped. So, since February 24, 2022, the liquidation process has been started for 8 banks. Last year, for the first time in Ukraine, not only bankrupt banks, but also profitable institutions were liquidated and revoked-We are talking about Concord bank. The process of revoking a banking institution's license takes place without a court order. Of course, the owners and shareholders of banks can appeal the decision of the regulator - the NBU, after it makes a decision to liquidate the bank, however, in general, the process of withdrawing a banking institution from the market, if it is launched, is irrevocable.

In addition, the issue of conducting liquidation of a profitable bank has not been resolved in Ukraine. As stated by co-owner of Concord bank Elena Sosedka, at the time of the regulator's announcement of the decision to liquidate the bank, there were enough highly liquid assets in the financial institution to make all the necessary payments in 2-3 weeks. But the bank's liquidation process is strictly regulated by law and can generally last up to three years.