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Ukraine's Prosecutor General's Office initiates case for Privatbank’s insolvency, - Shlapak
12:34, 4 July 2017
Ukraine's Prosecutor General's Office initiates case for Privatbank’s insolvency, - Shlapak

“A criminal case was initiated against former owners of Privatbank considering bringing the bank to insolvency,” said Chairman of the Board

12:34, 4 July 2017

Open source

The Prosecutor General's Office of Ukraine initiated a criminal case for bringing Privatbank to insolvency, Oleksandr Shlapak said at the press conference, as 112.ua reporter informs.

“A criminal case was initiated against former owners of Privatbank for bringing the bank to insolvency,” Oleksandr  Shlapak said.

At the moment investigators started criminal proceedings based on Article 218 (Fraudulent bankruptcy) and Article 220 (Concealment of lasting financial insolvency) of Ukraine’s Criminal Code.

As it was reported earlier, the former Privatbank owners failed to perform free-will loan restructuring until the designated date

Previously The Cabinet of Ministers has decided to recapitalize PrivatBank for $1.5 billion.

Related: PrivatBank Chairman Shlapak resigns

Related: Prosecutor General’s Office conducts searches in PrivatBank case, about 300 real properties arrested

Related: PrivatBank to appeal cout decision on partially illegal nationalization

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