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One of the biggest unscrupulous debtors blocks the work of UniCredit Bank in Ukraine

12.08.2015

On August 12, 2015 at 14:00 at the premises of the PJSC "Ukrsotsbank" HQ (Kyiv city) CEO of the bank Tamara Savoschenko and Risk Management Bloc Director Pavel Haskovec carried out a press-briefing concerning the methods through One of the biggest unscrupulous debtors of UniCredit Bank blocks the operation of financial institutions, and also concerning the reaction of the bank to these illegal actions.

The relationship of PJSC "Ukrsotsbank" with ISA "Prime Developments" group of companies owned by entrepreneur Alexander Bashenko, and later with his business partner, co-owner of "Finexbank" Sergei Osmuhin began in 2005, when the bank has signed a number of loan agreements with a group totaling around US 200 million for the construction of retail and office centers.

"Debtors didn’t return a penny of the body of credit. Instead, borrowers sidestepping the bank transferred a part of the loan to "Project A" company. These circumstances forced the bank to defend its rights in the court. Starting from 2011 until today bank has won about 50 court cases regarding these loans and collateral"- Risk Management Bloc Director Pavel Haskovec at UniCredit Bank commented. 

The lawsuit, which is reviewed by the Economic Court of Kyiv, refers to one of the episodes of the judicial campaign. In 2008 an outside investor (company "Project A") was involved in one of the projects (office building at 12/C, Amosova str., one of the Horizon Park towers) without the approval of PJSC "Ukrsotsbank". When in 2011 the bank found out about these facts, it appealed the court decision on the ownership recognition of the building by LLC "Project A" and judicially invalidated the investment agreement as well as the mortgage agreement concluded by LLC "Project A" with PJSC "Finexbank".

A few months ago, "Project A" filed a lawsuit against bank, referring to the fact that during the period of 2010-2013 the company spent money to improve the property amounting to more than UAH 18 million and wanted to get compensation.

Kyiv’s Economic Court Judge Sergey Kovtun has blocked more than UAH 18 million on correspondent accounts of PJSC "Ukrsotsbank" (TM UniCredit Bank) at the suit of the borrower LLC "Project A". The court has not even begun to consider the case in essence, but only appointed the inspection to determine the actuality of amount of damages claimed by borrower. Bank filed the statement to General Prosecutor Office concerning crime of judge and also will appeal to the High Qualification Commission of Judges to bring judge to justice.

In June this year the top management of UniCredit Group visited Kyiv with institutional visit, during which a meetings with the President and Prime Minister of Ukraine, Minister of Finance, Minister of Economy, National Bank Chairman and Kyiv Mayor were held.

"During the meetings with the President and Prime Minister great attention was paid to the current situation in Ukraine and the conditions under which foreign investors have to work. I would like to note that we saw the comprehensive support and understanding of the priority tasks concerning improving the investment climate in Ukraine both from the President, and from the Prime Minister. Group top management appreciates the efforts being made by country leadership to improve the investment climate in Ukraine, creating conditions for the foreign capital inflow and solving the problem on creditors’ rights protection. And we consider unacceptable a situation where all efforts of the country’s leaders are thwarted by actions of the judges who endure this kind of decision or power structures conducting searches in bank branches as well as other actions that have nothing to do with civilized methods of work of state institutions" - Tamara Savoschenko said.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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