EQUITY represents PJSC UkrInCom (PJSC UkrInBank) in a number of complex disputes

Representing UkrInBank PJSC in USD 200 mln dispute concerning the appeal against the procedure for withdrawal of UkrInBank from the market. Advising Client in dispute with National Bank of Ukraine and in USD 230+ m debt collection dispute.

EQUITY obtained a major victory for the Client in the Supreme Court of Ukraine in a dispute against the National Bank of Ukraine. The Supreme Court upheld EQUITY’s reasoning and confirmed that the bank was unlawfully declared as insolvent. This case is the latest precedent out of 4 cases ever when the start of the bank insolvency proceedings was declared unlawful.

The bank changed its name from PJSC “UkrInBank” to PJSC “UkrInCom” and continued its operation to enforce the NPLs. Our team further represents the Client in disputes with the debtors. In 2020, in an 11 v. 9 tight vote, the Grand Chamber of the Supreme Court ruled that there was no procedure for the once-declared-insolvent bank to return to operation after the cancellation of insolvency proceedings, allowing the former shareholder of the bank only to claim damages.

EQUITY continues to advise the Client due to termination of the temporary administration and liquidation of the bank.

In 2021 we received the unprecedented court decision, and the bank has been removed from the liquidation procedure and restored in his right to act as a bank institution under the Ukrainian applicable law.