The Cargill chances to prove the legitimacy of the withdrawal of assets from the Delta Bank in the amount of 2.5 billion USD are reducing.
Yesterday, the Supreme Commercial Court partially satisfied the cassation of the liquidator Delta Bank, canceled the previous court decisions on the loan company “Yablunevyi dar” and returned the case in the first instance, said the head of the Board of “Delta Bank depositors Union” Roman Badalis.
The court will have to determine on what basis the US company Cargill obtained rights to the loan of the “Yablunevyi dar” company. “Now will be dealt, whether all letters of credit, under which the loans were transferred from the Delta Bank to the Cargill company, what is the duration of their maturity and other conditions. Until now, the courts saw no reason to learn it “- said Roman Badalis.
It is about 17 letters of credit on the basis of which the Delta Bank has transferred to its shareholder, the Cargill Financial Services International Inc. company, rights of claim on loans to companies “Yablunevyi dar”, “Ilyichevsk grain port”, “Stroybud Illichivsk” and “Tank Trans”. The total amount of the loan portfolio is 2.5 billion UAH. In addition to Cargill the State Mortgage Institution (SMI) claims to these loans.
Delta Bank on September 4, 2014 signed a contract with SMI of the assignment loan of “Yablunevyi dar” for $ 43.4 million. And according to the agreement, the credit went to the SMI on the day of the introduction of temporary administration of Delta Bank on March 2, 2015. However, still the SMI can not defend the rights of the creditor, on December 10 Kyiv Commercial Court dismissed the claim.
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