OREANDA-NEWS. On 2 August 2016, the Kyiv Administrative Court of Appeal confirmed the legality of the decision by the National Bank of Ukraine to declare Bank Unison PJSC insolvent due to its non-transparent ownership structure.  The Court ruling came into effect immediately   after being announced.

In June 2016, the Kyiv County Administrative Court  rejected a claim from one of  the shareholders of Bank Unison PJSC in which the claimant asked the Court  to recognize as illegitimate and overturn the NBU Board Resolution on declaring Bank Unison PJSC insolvent.

The  shareholder of Bank Unison PJSC filed an appeal to the Kyiv Administrative Court of Appeal, seeking to challenge the ruling by the court of the first instance. Having considered the case, the Kyiv Administrative Court of Appeal confirmed the legitimacy of NBU Board Resolution on declaring Bank Unison PJSC insolvent.

As a side note, the NBU Board issued  Decision No. 300 of 28 April 2016 on declaring Bank Unison PJSC insolvent.

Since mid-2014, the NBU has repeatedly notified Bank Unison PJSC that its ownership structure fails to comply with transparency requirements.

As of 1 January 2014, the Bank's shareholders were two legal entities incorporated in Liechtenstein:  IDP Capital LTD, holding 82.5% of the bank’s shares and MCHL Finance LTD holding 17.5% of the bank’s shares. The Bank failed to disclose information on  the shareholders of these companies since both companies had more than 10 shareholders,   but neither of them held a stake of at least 10%.

In November 2014, the Bank’s ownership structure underwent changes and 11 legal entities became its shareholders. The Bank disclosed information on the bank’s new shareholders and their ownership structure  only following the entry into force of the Law of Ukraine On Amendments to Certain Legal Acts of Ukraine on the Responsibility of Bank's Related Parties in March 2015.