Ukrainian Supreme Court Confirms Fund's Right to Protect Creditors
· WOWERI
The Ukrainian Supreme Court has confirmed the Fund's right to protect creditors after a bank's liquidation. The Fund can recover losses from the liquidated bank's management.
Ukrainian Supreme Court Confirms Fund's Right to Protect Creditors
The Fund can recover losses from the liquidated bank's management in its own name, and this position is now established by court practice. According to the Ligazakon article, this decision is an important step in protecting the rights of creditors in Ukraine.
What it means for creditors
Creditors can now expect more effective protection of their rights after a bank's liquidation. The Fund will contribute to the compensation of losses incurred by creditors as a result of the actions of the liquidated bank's management.
Sources
What to do next
Source: biz.ligazakon.net