Toda

Fund of guarantee of investment to work with private executors

On February 8, a meeting was held with private performers of Ukraine at the premises of the Deposit Guarantee Fund. During the meeting, the representatives of the Fund complained to executives about the poor quality of implementation of the decisions by the bodies of the state executive service in favor of the banks that are in the stage of liquidation.

In particular, the Fund complains about the incompleteness of checking the property status of debtors, non-compliance with the procedural deadlines by state executives and manipulation in the process of realizing the arrested property.

Due to the introduction of a private enforcement institute in Ukraine, the Foundation hopes for a significant increase in the quality of implementation of decisions in favor of troubled banks. According to the participants of the meeting, there are currently more than 100,000 executive documents on the collection of funds in favor of such banks. Among the debts are both collateralised and not secured. The size of the debt also varies from several thousand hryvnias to billions.

As Olga Bilay, Director of the Department of Asset Management of the Fund informed, the Fund is ready to distribute cases uniformly between all private performers in those volumes in which private performers are able to process them qualitatively.

In turn, private executives assured the Fund's management that the observance of established procedures and timeframes is absolutely fundamental for them and the formation of their business reputation depends on this.

It is reported that at present the Fund forms a portfolio of cases that will be transferred to the work of private executors and the first proceedings will be opened at the end of February this year.

(translated using google translate)