Garant-Auto company  initiated proceedings about bankruptcy

Garant-Auto company initiated proceedings about bankruptcy

17.11.2016 News

The Supreme economic court of Ukraine made the statement on the official site, concerning initiation of Garant-Auto insurance company bankruptcy proceedings on September 21, 2016 . On October, 17, the Economic court of the Kyiv city began insolvency proceeding in this case.

Insolvency proceeding is open based on the statement of the creditor: MTIBU (Motor Transport Insurance Bureau of Ukraine). Compensations to the persons having the right to an insurance indemnity under agreements that were concluded with the company debtor. It MTSBU will also perform. Such procedural payments intend to issue based on statements of injured persons. In addition, within a month from the moment of initiation of proceedings about bankruptcy, all competitive creditors have the right to submit the applications.

The company is founded in Kyiv in 1992 and provided insurance programs for legal entities and physical persons. According to information, posted on the official site of the organisation, “Garant-Auto” paid about 350 thousand hryvnias insurance every day.In 2013 company assets has constituted 594 thousand hryvnias, insurance reserves have been 182 thousand hryvnias, and the authorised fund constituted about 83 thousand hryvnias that had confirmed its financial solvency.

It should be noted that unfortunate trends in the sphere of economy strongly at the insurance struck market in Ukraine. At the end of September of this year, a Netherlands private joint-stock society Aegon Life Ukraine management made the decision to abandon the Ukrainian market, because of an adverse financial situation. LDaily also reported on its pages about it. In addition, even more, than 5 small insurance companies have declared the bankruptcy within the last 6 months.

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