You're reading: Court suspends liquidation of Slovyansky Bank

KYIV, Apr. 12 (Ukrainian News) – Kyiv’s Pechersk district court has indefinitely suspended implementation of the National Bank of Ukraine’s order to liquidate Slovyansky Bank, the bank’s press secretary Tetiana Lazareva said Wednesday.

According to Lazareva, the court initially decided to suspend the liquidation order on April 3. The NBU later filed a petition to replace the judge in charge of the case, but the decision will remain in place until a new judge is appointed.

Meanwhile, Valery Ohienko, the executive director of the Fund for Guaranteeing Private Deposits, told Ukrainian News that the fund stopped paying out compensation to bank’s depositors on April 6 in connection with the court’s decision.

“Our reaction matched the decision of the court,” Ohienko said.

According to Ohienko, the Fund for Guaranteeing Private Deposits has already paid 95 percent of the total sum of compensation payable to the depositors: 7,647 depositors have received Hr 3.8 million.

As the same time, Lazareva said that Slovyansky’s depositors are continuing protests demanding payment of their deposits.

The bank’s depositors have set up a tent camp in front of the NBU’s regional office in Zaporizhia, and they intend to start a three-day hunger strike on April 17.

The Fund for Guaranteeing Private Deposits started compensating Slovyansky’s depositors through the Prominvestbank on February 14.

Slovyansky Bank held Hr 75 million (excluding interest) in deposits from about 9,000 people.

The bank collapsed last year as a result of a conflict with the tax police.

The 132-bank-member Fund for Guaranteeing Private Deposits was created in 1999.

The fund held Hr 73 million as of Jan. 1.