The guarantee Fund has revealed the secret of the secured creditors of failed banks

Фонд гарантирования раскрыл секрет обеспеченных кредиторов обанкротившихся банков

The law of Ukraine “About system of guaranteeing deposits of individuals” clearly defines the priority of claims of creditors of the insolvent Bank.

However, according to the press service of the Deposit guarantee Fund of individuals (fgvfl), with certain lenders banks are calculated out of the lineup.

Short and to the point Telegram

According to the DGF, all claims of creditors of the insolvent Bank shall be satisfied during its liquidation at the expense of funds received from the management and sale of property (assets).

In the DGF note that if the Bank raised money on the security of their property, in the event of bankruptcy, the person who gave them, becomes a creditor whose claims are secured by this asset.

The guarantee Fund is selling off assets of failed banks by nearly UAH 2.7 bn

That’s why, when the Bank receives from the sale of the collateral funds, he sends them out on payments to a secured creditor who is the pledgee. If the received funds are insufficient for full settlement, outstanding claims of the mortgagee are satisfied in the order established by the law – reported in the insurance Fund.