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Ukrainian court arrests UAH 1.2 bn worth of businessman, banker Bakhmatiuk's property

Ukrainian court arrests UAH 1.2 bn worth of businessman, banker Bakhmatiuk's propertyKyiv's Pechersky district court in October satisfied a claim of the National Bank of Ukraine (NBU), obliging the State Enforcement Service to arrest movable and immovable property of businessman Oleh Bakhmatiuk and his current accounts in bank Financial Initiative and VAB Bank, the regulator has said on its website.

The total cost of the property arrested is UAH 1.2 billion.

The enforcement case was opened on October 28.

"This concerns a sum of UAH 1.2 billion under a credit agreement of VAB Bank where Bakhmatiuk acted as a financial guarantor. A house with the gross area of 1,049 square meters in Kyiv region was also arrested," the NBU said.

The central bank reminded that court on September 25 the court satisfied its claim and arrested property and funds of Bakhmatiuk, while the State Enforcement Service did not open the case, as the court ruling did not contain address and ID number.

The central bank challenged the refusal in court.

VAB Bank operated on the Ukrainian financial market from 1992. On March 20, 2015, the NBU decided to liquidate the bank. The central bank said that Bakhmatiuk is responsible for worsening of the situation at the bank.
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