The Court of Appeal Confirms the Legality of the Actions Taken by the National Bank of Ukraine to Protect the Interests of Depositors of VAB BANK PJSC
 
OREANDA-NEWS. On 11 October 2016, the Kyiv Administrative Court of Appeal confirmed the legality of the actions taken by the National Bank of Ukraine to protect the interests of creditors and depositors of VAB BANK PJSC.

According to the case materials, in January 2016, an individual customer of VAB BANK PJSC filed a lawsuit in the the Kyiv County Administrative Court, demanding that the court recognize as unlawful the NBU’s inaction and failure to take  the necessary measures to protect the legal interests of the Bank’s depositors and creditors.

In response to this lawsuit, the NBU filed a counterclaim containing the measures undertaken by the NBU during 2014-2015 while performing supervisory functions with respect to this Bank.

On 4 August 2016, the Kyiv County Administrative Court  ruled to reject the suit on the grounds that the claimant's assertions regarding the NBU’s inaction were unfounded.

VAB BANK PJSC’s customer  filed a petition in the Court of Appeal, seeking to challenge the court’s ruling.