Creditors of PrivatBank, which has lost about 600 million dollars during the period of interim administration, filed the lawsuits. This writes FinClub .
As reported, after purchase by the government insolvent PrivatBank publication reported on the beginning of the creation of the creditors ‘ Committee of bondholders of the Bank who were planning to go to court and defend their written-off investment. It happened.
Former top managers of PrivatBank create IT company
«The lawsuits were filed in the «Private» about it I know, but until they have this information don’t want to confirm publicly, in order to maintain customer loyalty. Began a new round of negotiations», – said the representative of the several lenders, the managing partner of the bar Association Suprema Lex Victor frost.
The Deposit guarantee Fund of individuals ‘ deposits in the period of 19-20 December 2016 have converted the liabilities of PrivatBank in front of related parties and next unsecured loans by 29.4 billion in capital, including foreign Bank debt to $ 595 million.
Was converted two Eurobonds issues maturing in January-February 2018 375 million. subordinated debt to $ 220 million. for a period up to February 2021.
Writes FinClub, the claims of foreign creditors PrivatBank, lost money during its nationalization, is fraught with blocking of the ability of the Bank and its customers to make payments through foreign Bank accounts. This threat frightened the customers of the Bank, PrivatBank, therefore, had to issue a statement that the balance of PrivatBank has no obligations to the owners of the Eurobonds.
«The claims of holders of Eurobonds relate to the restoration of the rights of owners of such securities and does not mean automatic imposition of restrictions on any accounts or assets PrivatBank», – said the first Deputy Chairman of PrivatBank Alexander Dubrovin.
The top Manager of the Bank believes that «the practice of international law in relation to banks does not imply such form of security measure as the seizure of correspondent or any other accounts of the commercial Bank and especially its customers.»
A common practice of international courts are obligations on Deposit in the special account funds for future court decision on the point of action, said the Bank. Although the message of institutions says nothing about whether Privat predefinovat to $ 600 million.
At the end of December 2016, the bondholders owning different securities totaling more than $ 120 million, United in the ad hoc Committee for the joint defense of their rights and interests. The Committee consist of five funds, including the British, American and Swiss.
We are talking about three Eurobond issues: $ 175 million at a rate 10,875%, maturing February 28, 2018, $ 200 million at a rate of 10.25% maturing on 23 January 2018, of which $ 40 million was repaid in August 2016, and $ 220 million at a rate of 11% (bonds and subordinated debt), maturing in 2021.
The Issuer of Eurobonds maturing in January and February of 2018 was made in the UK a special company (special purpose vehicle, SPV) UK SPV Credit Finance plc. Eurobonds maturing in 2021 were issued through ICBC Standard Bank Plc (UK), however, during restructuring this debt was re-issued on UK SPV Credit Finance plc.
The terms of issue of Eurobonds maturing in 2018 assuming raised through placement of securities means the Issuer will provide to PrivatBank as debt. Securities have limited recourse.
The paper also noted that in the case of recognition of the Bank insolvent, it came under the management of Fund of guaranteeing the deposits of individuals. the Fund appoints temporary administrator of the Bank who is authorized to take any action to restore the solvency of the Bank.
The bondholders intend to appeal to the London court of international arbitration (London Court of International Arbitration) compulsory exchange of their securities for shares of the additional issue of the Bank and thereby hope to obtain as compensation for his investment the foreign assets of the Bank.
The Trustee is the Trustee that expresses the collective interests of the holders of notes at such events as the default, changing the terms of the securities, control over the transfer of interest payments, disclosure of information and other.
It was reported that the Trustee of Eurobonds PrivatBank ready to investigate the situation regarding the forced conversion of the securities.
Privat denies the fact that the obligations on Eurobonds.
Former top managers of «PrivatBank» create IT company
Former top managers of PrivatBank Oleg Gorokhovsky, Dmitry Dubilet, Michael rogalski create IT company Fintech Band, which will develop solutions for other banks. This was reported Dubilet, who was Director of PrivatBank, on Facebook.
«We know how to create a cool retail Bank, and is now ready to share the knowledge. Will deal with such blocks as processing, CRM system, credit cards, Internet banking, etc.,» said Dubilet.
Oleg Gorokhovsky was the first Deputy Chairman of PrivatBank, Michael rogalski headed in the direction of the Bank «Payments and transfers».
Recall that the previous leadership of PrivatBank left his state with a «hole» in the capital of 148 billion, but does not recognize his guilt. The former head of the Board of PrivatBank Alexander Dubilet said that the Bank’s problem was the fault of NBU.
Former owner of the Bank Igor Kolomoisky expressed himself even more harshly and called «Приват2 a victim of the tyranny of the National Bank of Ukraine.
21 Dec PrivatBank officially passed into state property.
PrivatBank, the creditors want their money back 23.01.2017