OREANDA-NEWS. December 1, 2008. Since November 2008, Bank 'Finance and Credit' has launched public foreclosure project. The customers of the Bank can study foreclosure list at the Bank's official web site http://www.fcbank.com.ua/ru/foreclos/.

At foreclosure section, one can find the following categories: commercial property, residential property, vehicles, equipment, etc. The foreclosure offers are active all over Ukraine. The section gives detailed description, photos and contact information. The section is updated regularly with new entries.

Moreover, Bank 'Finance and Credit' is a member of Birga.ua ™ Ukrainian Internet Stock – one of the most popular internet resources, which gives information on foreclosure listing of the leading Ukrainian banks.

"Current legislation of Ukraine gives the Bank as a pledge holder/mortgagee the right to foreclose on the mortgaged property in the event of default or improper performance by debtor of the obligations under credit agreement", said Svitlana Lototska, Deputy Chairman of the Board, Bank 'Finance and Credit'.

If collateral is immovable property The Law of Ukraine On Mortgage gives, as one of the means of execution upon mortgaged property, the Bank as a mortgagee the right to sell mortgaged property in its own name.

If collateral is movable property The Law of Ukraine On Ensuring the Demand of Creditor and Registration of Encumbrances gives the Bank the right to sell foreclosed property to a third person in its own name.