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Ministry of Justice defended property rights of UniCredit Bank

22.07.2016

The Ministry of Justice of Ukraine has promptly reacted to the scandalous illegal seizure of UniCredit Bank’s property, considered the complaint and restored the bank’s property rights for "Horizon Park" business centre in the Register of proprietary rights.

"Ministry of Justice showed their readiness to resolve issues associated with the protection of rights of investors and private business in Ukraine. This clearly demonstrates that the Government is committed to implement reforms for the benefit of business and improvement of investment climate in the country. We also expect system changes which would not allow similar irregularities on the part of notaries and those who wish to capture others’ possession," CEO of UniCredit Bank Tamara Savoshchenko commented.

Yesterday, July 21, during the press conference in Kyiv UniCredit Bank reported about the second illegal seizure of "Horizon Park" business centre which has been owned by the bank since 2012. Using new registration rules private notary of Obukhiv notarial circuit Oleh Shchur made two attempts to reregister the bank’s property and pass the title to "Project-A" LLC.

However, in both cases the Ministry of Justice cancelled the notary’s illegal registration and reinstated the ownership rights to the foreign investor. Criminal proceeding over illegal actions of the notary O. Shchur is opened.

 

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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