The court allowed the NBU to sell the SEC Republic

On May 18, the Kiev Economic Court satisfied the National Bank claim to the Cyprus company Berlintoto Ltd about the foreclosure on the OJSC Megapoliszhilstroy corporate rights share.

This was said in the NBU press service message. In March 2016, the NBU filed a lawsuit against Berlinlotto Ltd with a request to foreclosure on the company Megapolzhilstroy corporate rights for insolvent bank Nadra debt partial repayment to the NBU.

The regulator notes that at one time the company Megapoliszhilstroy took a loan from Nadra Bank, providing as collateral for this loan the corporate rights to the SEC Republic unfinished project. Later, the bank Nadra transferred its corporate rights as a pledgee for the NBU − under a refinancing loan.

After the bank Nadra became insolvent and could not return the debt to the NBU in the amount of 4.4 billion UAH, the National Bank began to exercise its rights in court as a corporate rights pledgee of the SEC Republic owner.

In the middle of December, 2016, the Individual Deposit Guarantee Fund (FGVFL) announced that Fund plans to sell the credit claims on Nadra Bank legal entities, united in one lot, for which, in particular, “the country’s largest unfinished SEC” was transferred. In 2015, the fund managing director Konstantin Vorushilin said that the NBU can sell the SEC Republic. As it is noted, its cost can exceed 1 billion UAN.

Reference. SEC Republic − one of the largest under construction infrastructure facilities in Ukraine – is located on the capital Ring Road. There were huge shops, a sports club, a residential micro-district, own educational institutions and the bus station Teremki in the construction project.

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