The Kyiv Business Court has declared the King's Capital financial group bankrupt.
The court announced this in a statement.
“The resolution No. 44/472-b of August 21, 2009, declared the King’s Capital limited liability company bankrupt and opened liquidation proceedings,” the court said in the statement.
Claims from creditors will be accepted within a period of one month, beginning on September 1, at the address: 87-d, Zakrevskoho Street, Kyiv (Office 12).
As Ukrainian News earlier reported, the Kyiv Appeal Court upheld the Shevchenkivskyi District Court of Kyiv’s ruling of November 27, 2008, that ordered detention of the King’s Capital financial group’s head Oleksandr Bandurchenko for two months.
Bandurchenko was detained by police on suspicion of fraud.
Earlier, about 60 citizens filed a statement saying that they were unable to recover their investments in the King’s Capital financial group.
The Embassy of God church’s Pastor Sunday Adelaja has said that the cause of the financial problems at the King’s Capital financial group is the current economic crisis and not deliberate fraud.
Adelaja considers the police’s decision to investigate him for involvement in the financial group’s financial machinations as implementation of a political order.
