Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?

Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?

25.12.2016 Analytics

And again we return to the theme of PrivatBank: not because of the desire to discuss again , perhaps, one of the most resonant events in the past year, but from a desire to understand and clarify some of the nuances of the case.

To do this, we asked for a comment to one of the leading experts in Kiev: a lawyer with an impressive experience and financial analysts, whose name we can not specify, but his professionalism is able to speak for itself.

LDaily: The nationalization of PrivatBank during the week is the number one topic for most of the national media. Someone calls the bank’s asset transfer process under the control of the state – a forced move, others – accuse the government, pointing to the illegality and invalidity of the decision. Can you comment on it: whether it was a lawful ground for nationalization of Privat Bank?

Expert: The current legislation really does not provide a list of specific criterions, which could serve as a legal framework for the implementation of the nationalization procedure of companies or banks. The answer to your question must be sought in the internal documents of the National Bank of Ukraine.

LDaily: And if speaking about the depositors of Privat Bank : how the nationalization of financial institution will be reflected on their behalf?

Expert: In the client, as a rule, it does not appear immediately, as the bank continues to operate, but with the state management. If we talk about the long term, it should be noted that the reliability of PrivatBank will depend only on the competence of its managers. Therefore, in our case, everything remains in the hands of the Ministry of Finance. Also, we should not forget that the rights to the software of Privat have remained among the companies that are still owned by the former owner of the bank. Thus, the reliability of the financial institution in the future also depends on whether the Ministry of Finance will be able to reach an agreement with Kolomoiskyi on an adequate price for the software.

I should note that in the context of nationalization of Privat, I’m more concerned about how this event will affect the investment attractiveness of Ukraine. Such measures from the part of the state does not promise anything good: they can scare off potential investors.

LDaily: And the last question: he is more concerned with the activities of the NBU. Many analysts and representatives of media pay attention to a curious fact: about 80 Ukrainian banks have been liquidated during the 2016 year. Some try to find in the personal interest of the representatives of the current government. What can you say about this?

Expert: Сhances are – it is a way to launder money through the “pocket bank institutions,” and attempt to pull the economy out of the shadow. How such state measures are effective and whether they are aimed at fighting money laundering – we will learn in the future. Of course, it is likely that such actions by the authorities are aimed at the redistribution of financial flows.

Other articles

  • Radisson Hotel Group becomes world’s first hotel group to offer carbon negative meetings
    News

    Radisson Hotel Group becomes world’s first hotel group to offer carbon negative meetings

    Radisson Hotel Group is proud to be the world’s first hotel group to make all meetings and events across 400+ hotels in its EMEA portfolio carbon negative. For every event taking place at its participating hotels, Radisson Hotel Group will offset double the carbon footprint, to ensure that every meeting has a positive impact on […]

  • The price of oil broke a long-standing record
    News

    The price of oil broke a long-standing record

    During trading on Monday, October 11, the price of a barrel of Brent oil rose by 2% to $ 84.01. She reached this mark for the first time since October 2018. US WTI oil rose by $ 1.62 to $ 81.3 – the highest price since 2014, according to Reuters. It is noted that Brent […]

  • From 2023, multinational corporations must pay corporate tax at a rate of at least 15%
    News

    From 2023, multinational corporations must pay corporate tax at a rate of at least 15%

    The agreement on a single corporate tax rate of at least 15 percent was signed by 136 states, which account for more than 90 percent of world GDP. The agreement is aimed at combating tax evasion by international corporations. The initiative was also signed by countries that were initially opposed to tax reform, such as […]

  • The NBU has calculated “on hand” in the population up to $ 35 billion
    News

    The NBU has calculated “on hand” in the population up to $ 35 billion

    The savings of Ukrainian citizens outside the banking system are estimated at $ 30-35 billion. This estimate was given by the chairman of the National Bank Kyrylo Shevchenko during the Kyiv Economic Forum. There are different estimates of the “gray” economy. We in the National Bank believe that this is up to 30% of GDP. […]

  • The NBU has increased the purchase of currency on the interbank market 15 times
    News

    The NBU has increased the purchase of currency on the interbank market 15 times

    During the week, the National Bank of Ukraine bought $ 228 million on the interbank foreign exchange market. At the same time, the central bank did not sell currency on the interbank market. So the NBU continued to buy currency on the interbank market, the bank increased it compared to last week ($ 15 million) […]

  • Musk told when the first European Tesla will appear
    News

    Musk told when the first European Tesla will appear

    The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]

  • Two other Chinese developers have problems paying on bonds
    News

    Two other Chinese developers have problems paying on bonds

    In China, two more developers are unable to repay their debts: Fantasia Holdings has been unable to repay bonds worth $ 205.7 million, and Sinic Holdings is uncertain about the repayment of $ 246 million in bonds, the BBC reports. The day before, trading in Evergrande shares was suspended on the eve of “an announcement […]

  • Telegram has 70 million new users amid Facebook failure
    News

    Telegram has 70 million new users amid Facebook failure

    Telegram Messenger registered more than 70 million new users against the background of a large-scale failure of the social network Facebook and its services. The founder of the messenger Pavlo Durov announced this in his Telegram-channel. “Telegram’s daily growth rate is an order of magnitude higher than normal, and in one day we have received […]

Read also

Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Kolomoiskyi closes Ukraine Today

In Ukraine it will be one less source of information. Ukraine Today is an online channel with International broadcasting, which is owned by Ukrainian businessman and former owner of Privat Bank Ihor Kolomoiskyi. The fact that in the near future Ukraine Today will stop their work became known from the publication of General Director of […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

AirBaltic will open a direct flight from Kiev to Vilnius

AirBaltic will launch a direct flight from Vilnius to Kyiv on October 6. The presented schedule shows that flights will be performed three times a week on Tuesdays, Thursdays and Saturdays to Boryspil Airport. Herewith departures from Vilnius are scheduled for 6:55, return from Kiev – at 09:10. Travel time will be 1:00 20 minutes. […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Facebook explained how the data of 500 million users were published

Facebook reported that the data of 530 million users of the social network were made public after receiving data from the platform through the function of importing contacts, and not as a result of a hacker attack. This is stated in the Facebook report on the incident. It is noted that the attackers stole data […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Nvidia shares are at a new high on the eve of the quarterly report

Shares of Nvidia, which rose on 109.7% since the beginning of the year, reached a new high record on Monday, as a result, Nvidia’s capitalization market for the first time exceeded $ 300 billion, it is significantly higher than the estimated market of Intel in $ 210 billion. Wall Street experts said that Nvidia was […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

BUSINESS-EVENT PEOPLE MANAGEMENT 6

Your employees are most valuable asset that you have. Only the achievement of command results can ahead your business to the sustainable growth. If you business owner, CEO or head-officer? It doesn’t matter. You are the people–manager. On April 16th at Ramada Event Hall will take place an annual business event about affective leadership and […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Facebook thinks about face recognition in its smart glasses

Facebook is considering the introduction of face recognition technology in smart glasses, which is currently working, writes CNBC, citing the words of the head of hardware Andrew Bosworth. According to him, this feature can be added if customers need it. He added that if people do not need this technology, then use it in the […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Ukraine has the largest non-fulfillment of the expenditure plan in five years

Failure to meet the state budget expenditure plan in 2020 amounted to 68 billion hryvnias. This is the worst figure in the last five years, said the chairman of the Accounting Chamber Valery Patskan. “The volume of expenditures of every fourth budget program was changed by government decisions. At the same time, the amounts of […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Boeing shares rose by 6.7% after 737 MAX flight permission

Before starting flights, Boeing will need to comply with a number of regulatory requirements – retrain pilots and update aircraft software. Boeing shares in the premarket rose by 6.73% to $ 234.16 per share, according to previous trading data. The head of the US Federal Aviation Administration (FAA), Steve Dickson, has signed an order allowing […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Over the past year significantly reduced the Canon profits

Net income of one of the largest manufacturers of digital cameras in the world decreased by 31.6% in 2016 compared to the year 2015. Last year it was equal to the index of 1,298 billion US dollars. These data are shown in the statements of Canon (headquartered in Tokyo, Japan), as reported UkrainianForbes. For the […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

“Gazprom” filed a lawsuit against the AMCU due to the fine of 86 billion UAH

According to the sources, “Gazprom”, JSC demands to annul the decision of the Antimonopoly Committee of Ukraine (AMCU) of the fine in the amount of 85.966 billion UAH through the Commercial Court of Kiev. The claim is registered in the court on April, 12. “Naftogaz of Ukraine” and “Ukrtransgaz” must be the third parties in […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

The Tesa company sold shares to Investbank

The Tesa company (LLC) sold shares of Investbank to Alexey Kotovskyi. There was a requirement of the National Bank ownership structure. This was announced on the bank’s website. At the moment Alex Kotovskij owns 41.2% of the share capital of the bank. The financial institutions report says that the National Bank held an additional issue […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Moody’s improves Outlook for the banking system of Ukraine

Moody’s improved the forecast for Ukraine’s banking system to stable from negative, according to the website of the credit Agency. Today, analysts’ opinions have changed. Experts believe that the work of Ukraine’s recovery after a deep recession in recent times has yielded results and stabilized the situation in the country. This conclusion is made in […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Kernel bought out the part of the debt of the Creative Company

The Cabinet of Ministers of Ukraine allowed the state Ukrgasbank to sell  to the enterprise of agricultural companies Kernel Group rights to the loan of the private joint-stock company Creative  for $95,753,000, transmit “Ukrainian News”. The order has been agreed by the National Bank. Collateral for loans was performed the complex for the production of […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

Saudi Aramco has stopped investing in a petrochemical complex in China

According to Bloomberg sources, state oil company Saudi Aramco of Saudi Arabia has stopped investing in a project of building oil refinery and petrochemical complex in China, estimated at $ 10 billion. The decision to terminate the investment was made after talks with Chinese partners and it is associated with high uncertainty about the prospects […]

Next
Lawyer’s opinion on the nationalization of PrivatBank: what to expect next?
News

The court found guilty the NBU of bankruptcy of the “Ukrgazprombank”

March, 14 Kyiv District Administrative Court declared illegal inactivity of the regulator in relation to the “Ukrgazprombank”, which was declared insolvent in 2015, and now goes into liquidation. The lawsuit was filed by one of the contributors of the Ukrgazprombank – “Trading House Sanko” LLC , writes the  FinClub. In August 2014 the company has […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com