The Supreme Court on the claim of FC Investohills Vesta declared illegal the decision of the Federal State Fiscal Service to cancel the results of the auction held for the sale of a pool of loans from 4 bankrupt bank
On March 16, 2021, the Supreme Court confirmed the legality of the decision of the Northern Economic Court of Appeal of December 01, 2020 in economic case No. 910/1935/20, declared illegal and canceled the decision of the Deposit Guarantee Fund of Individuals No. 114 of 22.01.2020 regarding the cancellation of the results of the auction of 4 bankrupt banks.
Recall that on November 22, 2019, the open public electronic auction organized by the Federal State Fiscal Service was held for lot No. GL18N212456 on the sale of the property of 4 insolvent banks, in particular JSC “VTB BANK”, PJSC “FIDOBANK”, JSC “Delta Bank”, JSC “Bank Finance and Credit”, which included the rights of claim under credit agreements and security agreements of such companies as PJSC “Kremenchugmyaso” (TM “Farro”), PJSC “Hemoplast”, etc.
On December 20, 2019, FC “Investohills Vesta” LLC became the winner of the auction, having made a full payment for the purchase of these assets in the amount of UAH 150.5 million with a specified period for concluding contracts until 22.01.2020.
On January 21, 2020, “Investohills Vesta” enters into a corresponding agreement with one bank, “Bank Finance and Credit” JSC. On the same day, the DGF Complaints Commission at its meeting recommended that the DGF Executive Directorate decide to extend the deadline for concluding contracts with banks, and on January 22, 2020, the DGF Executive Directorate makes decision No. 114, which cancels the results of the above-mentioned auction. The remaining three banks completely refuse to enter into a contract with FC “Investohills Vesta” LLC, and the money paid for the purchase of the assets of FC “Investohills Vesta” is not returned.
In February 2020, FC “Investohills Vesta” LLC, in order to protect its legal rights and interests, filed a claim with the economic court to declare the above-mentioned decision of the Federal State Tax Service illegal and cancel it, as well as to oblige banks to conclude contracts for the assignment of claims on the remaining assets with the legitimate winner of the auction.
On July 16, 2020, the Economic Court of the city of Kyiv declares illegal and cancels the decision of the Deposit Guarantee Fund of Individuals No. 114 of 22.01.2020 on the cancellation of the results of the above-mentioned auctions, to which the DGF files an appeal.
On December 01, 2020, the decision of the Economic Court of Kyiv was upheld by the decision of the Northern Court of Appeal in economic case No. 910/1935/20.
In the last instance, on March 16, 2021, the Supreme Court confirmed the legality of the decision of the Northern Economic Court of Appeal. In this court decision, it was established that FC “Investohills Vesta” LLC, as the winner of the open electronic auction, made a full payment in accordance with the Protocol of the electronic auction No. UA-EA on 17.12.2019-2019-10-09-000083-b dated 20.12.2019, respectively, had legitimate expectations for the acquisition of assets (property) of 4 banks under lot no. GL18N212456 and the conclusion of contracts for the assignment of claims, which did not lead to a distortion of the results of the auction.