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Automatically translated version. May contain inaccuracies compared to the original.
The court at Kolomoyskyi’s request again arrested shares, property, and funds of Prominvestbank
4 February the Commercial Court of Kyiv satisfied the application of LLC “Crimea Development” (associated with the “Privat” group) and, as a provisional measure in case No. 910/4164/20, imposed an arrest on 99,77% of Prominvestbank’s shares, on all the bank’s movable and immovable property, and on its property rights, securities, and funds in accounts at other banks (including its correspondent account at the NBU) within the amount of 169,8 million USD being recovered in enforcement proceeding No. 59036926.
In addition, the court prohibited Prominvestbank from taking actions aimed at liquidating or reorganizing the legal entity, as well as from taking any actions intended to change the bank’s governing bodies.
Recall that 5 February the NBU refused to approve Serhiy Tihipko’s indirect acquisition of 99,77% of Prominvestbank’s shares.
"The decision was made based on a comprehensive analysis of the document package and in view of problematic issues in Prominvestbank’s operations," the National Bank stated.
As Finbalance wrote, 27.01.2021 the Supreme Court satisfied Prominvestbank’s cassation appeal and annulled the Commercial Court of Kyiv’s ruling dated 10.03.2020 and the Northern Commercial Court of Appeal’s order dated 01.09.2020 (in case No. 910/3480/20), by which, at the request of LLC “Crimea Development” and as a provisional measure, an arrest had been imposed on Prominvestbank’s shares, its movable and immovable property, property rights, and accounts in other banks (within the recovery amount of 169,8 million USD), and the bank had been prohibited from undertaking liquidation or reorganization of the legal entity.
LLC “Crimea Development” is associated with Ihor Kolomoyskyi and his partners. It is one of the “Privat” group companies that, based on the decision of the Arbitration Court of The Hague, are claiming compensation from Russia for property taken from them in Crimea after the peninsula’s annexation by Russia.
The PFTS exchange reported that 04.03.2020 an auction took place at which 99,77% of Prominvestbank’s shares were sold under an enforcement proceeding for 268,7 million UAH. The auction winner was LLC “FC “Fortify”, which paid the stated amount.
In October–November 2020 the Antimonopoly Committee and the NBU granted approvals to Serhiy Tihipko’s company to acquire FC “Fortify” (prior to that, people from Ihor Kolomoyskyi’s circle appeared among the owners of the financial company).
S. Tihipko publicly stated that he plans to transfer Prominvestbank’s operating assets to Taskombank.
According to NBU data as of 01.01.2021 the owner of 99,77% of Prominvestbank’s shares is the Russian state corporation VEB.RF.
26.01.2021 The Pechersky District Court of Kyiv refused to satisfy VEB.RF’s lawsuit against the “Privat” group companies (in case No. 757/36346/19-c) seeking the release of property from arrest.
According to court materials, an arrest was imposed on Prominvestbank’s shares by a state enforcement officer as part of a consolidated enforcement proceeding to enforce writs issued by the court to implement the Kyiv Court of Appeal’s order dated 25.09.2018 granting permission to execute the above-mentioned Arbitration Court (The Hague, the Netherlands) decision dated 02.05.2018.
24.09.2020 The Sixth Administrative Court of Appeal refused to satisfy the appeal of the Russian state corporation VEB.RF (Vnesheconombank) against the Kyiv District Administrative Court’s decision dated 23.06.2020 (in case No. 640/857/20), by which VEB.RF was denied relief in its claim to declare unlawful the actions of the State Enforcement Service of the Ministry of Justice of Ukraine regarding the transfer to the PFTS exchange for sale of 99,77% of Prominvestbank’s shares and to order the defendant to refrain from actions aimed at selling that property.
14.01.2021 The Supreme Court refused to satisfy VEB.RF’s appeal against the Kyiv Court of Appeal’s ruling dated 07.09.2020 (in case No. 824/178/19), by which VEB.RF was denied the request to recognize and permit enforcement of the arbitration award of the Arbitration Institute of the Stockholm Chamber of Commerce dated 28.08.2019.
By that arbitration order dated 28.08.2019, at VEB.RF’s request and as a provisional measure, the state of Ukraine represented by the Ministry of Justice was required to suspend the forced sale of 99,77% of Prominvestbank’s shares that were registered to VEB.RF, and to refrain from taking any equivalent actions regarding Prominvestbank’s shares until the arbitration determined whether the sale of those shares violated norms of international law.
However, the Supreme Court agreed with the Kyiv Court of Appeal’s conclusion that enforcing the mentioned arbitration provisional-measures order would have resulted in the suspension of enforcement of the Arbitration Court (The Hague, the Netherlands) decision dated 02.05.2018, which had satisfied the claims of a number of companies associated with Ihor Kolomoyskyi and his partners and had ordered Russia to pay 159 million USD as compensation for real estate expropriated from the “Privat” group in Crimea after its annexation by Russia.
Prominvestbank reports a loss of 451,5 million UAH for the year ending 2020.
For 2019 the bank declared a profit of 270 million UAH, for 2018 year — a loss of 3,34 billion UAH, for 2017 year — 7,7 billion UAH, for 2016 year — 5,8 billion UAH, for 2015 year — 20,3 billion UAH, for 2014 year — 5,95 billion UAH.
For 11 months of 2020 the loss of Prominvestbank was 718,3 million UAH. Thus, for December the bank declares a profit of 302,8 million UAH.
The bank’s declared regulatory capital adequacy ratio as of 01.01.2021 is 26,72% (NBU requirement — at least 10%).
At the reporting date, however, Prominvestbank violated
- the maximum credit risk to a single counterparty ratio (N7; should be no more than 25%), which at the bank stood at 55,93%);
- the total long open foreign-currency position risk ratio (L13-1; should be no more than 10%), which at the bank stood at 84,9%);
- the total short open foreign-currency position risk ratio (L13-2; should be no more than 10%), which stood at 77,8%.
In Q3 2020 Prominvestbank wrote off nonperforming loans totaling 13,85 billion UAH.
According to a stress test conducted in 2019, under the baseline macroeconomic scenario Prominvestbank’s capital need was estimated at 4,6 billion UAH, and under the adverse macro scenario at 6,32 billion UAH. According to the bank, taking into account measures it has implemented, as of 01.09.2019 the capital need under the baseline macro scenario decreased to 2,7 billion UAH, and under the adverse macro scenario to 3,96 billion UAH.
finbalance
Document: PDF proof of the original version of the news item "Суд на вимогу Коломойського знову арештував акції, майно, кошти Промінвестбанку". It records the publication content at the moment of the first scan, the preservation date and the source: ANTIKOR.
