FUIB considers the ruling by the Kyiv Economic Court of Appeal as unlawful

First Ukrainian International Bank (FUIB) appealed against the ruling of the Kyiv Economic Court of Appeal to adjudicate actions of the State executive service as illegal, as well as separate documents of the enforcement proceedings on execution of the decision of the economic court of Kyiv dated 26.11.2014, about the injunctive relief in the lawsuit of the First Ukrainian International Bank against PJSC TAKO.

“We consider the ruling by the Kyiv Economic Court of Appeal as unlawful. The act of description and seizure of collateral, as well as its transfer of it for storage to FUIB is an effective document. Furthermore, on February 16, 2015 the collateral was re-described by a state enforcement officer and transferred to the Bank for storage in the performance of the decision of the economic court of Dnipropetrovsk region. The grain is arrested whatever the future of the enforcement proceedings in the decision of the economic court of Kyiv is ", said Konstantin Shkolyarenko, Deputy Chairman of the Board of FUIB.

The state executive office was authorized by the Economic Court of Kyiv to ensure the lawsuit of FUIB against PJSC TAKO in property dispute concerning recovery of a debt in the amount of 17 million US dollars and 7 million hryvnia. Collateral is grain stored in the field near village Pavoloch in Popilnia district, Zhytomyr region. The legitimacy of the decision of the court of the first instance for interim relief has been confirmed even by the Supreme Economic Court of Ukraine. 

On March 7, 2015 during another attempt of PJSC TAKO to illegally transport the arrested grain, an employee of a security company hired by the bank for protection of the collateral died from a gunshot wound and another 15 were injured.