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The payments on deposits in the Ukrainian banks not covered by compensation payments from the Depositors’ Protection Fund will soon start in Crimea
08.07.2015
The DPF will also pay the compensation to the citizens with large deposits, from the contribution to the fund of the Crimean authorities. However, the money of the republic will not be spent: the Crimeans will receive the complete insurance from the proceeds from the sale of the nationalized assets of Igor Kolomoysky, a Ukrainian oligarch. Even though Igor Kolomoysky will repay all the remaining obligations of the Ukrainian banks to the Crimeans from his nationalized property, this does not lift the liability from the banks. The law says that the DPF does not simply compensate the deposits over 700 thousand roubles, but buys out the claim rights under those, so that such claims could be made to the Ukrainian banks later. However, hardly anything can be recovered from those banks in this case.
Alexander Bolomatov, Partner of the Law Firm "YUST", told the Kommersant newspaper that, even if the respective disputes are considered by a Ukrainian court, it will not take the side of the DPF due to the current geopolitical situations: “It will have all the reasons to do so: a Ukrainian court may dismiss the DPF’s request of exaction alleging that the claims have already been satisfied from the nationalized assets”.
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The DPF will also pay the compensation to the citizens with large deposits, from the contribution to the fund of the Crimean authorities. However, the money of the republic will not be spent: the Crimeans will receive the complete insurance from the proceeds from the sale of the nationalized assets of Igor Kolomoysky, a Ukrainian oligarch. Even though Igor Kolomoysky will repay all the remaining obligations of the Ukrainian banks to the Crimeans from his nationalized property, this does not lift the liability from the banks. The law says that the DPF does not simply compensate the deposits over 700 thousand roubles, but buys out the claim rights under those, so that such claims could be made to the Ukrainian banks later. However, hardly anything can be recovered from those banks in this case.
Alexander Bolomatov, Partner of the Law Firm "YUST", told the Kommersant newspaper that, even if the respective disputes are considered by a Ukrainian court, it will not take the side of the DPF due to the current geopolitical situations: “It will have all the reasons to do so: a Ukrainian court may dismiss the DPF’s request of exaction alleging that the claims have already been satisfied from the nationalized assets”.
Read more
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