The National Bank lost its right to recover from the Imexbank owner Leonid Klimov more than UAH 300 mln of financial guarantee.
On July 15 the Appellate Court of Odessa region cancelled the decision of the Odessa Seaside District Court dated March 16, according to which NBU obtained the right to recover from Leonid Klimov the debt on stabilization loan of Imexbank for UAH 300 mln, interests and penalties (UAH 9.85 mln) as well as court fee (UAH 4.65 mln).
As it was reported, on November 28, 2014, Imexbank obtained the stabilization loan, and on May 27, 2015, the banking license was revoked.
Leonid Klimov pledged all his property to NBU on this loan. On October 13, 2015, he obtained from NBU the debt payment request, but did not pay.
“The Odessa Seaside District Court defended the violated interests of the state, returning funds to the state budget as well as interests of affected lenders of Imexbank”, the court stated.
However, the judges of the appellate instance decided that the people’s deputy owes nothing to NBU. The article 559 of the Civil Code says that the guarantee expires after termination of the period, specified in the agreement.
If such period is not set, the financial guarantee expires unless within six months from the maturity date for fulfilment of the underlying obligation the lender files claims against the guarantor.
Meanwhile, the day, when the bank liquidation starts, is considered as the maturity date for fulfillment of all bank liabilities. That is why, from May 27, 2015, NBU obtained the right to file claims.
NBU filed claim against Leonid Klimov within a six-month period (on October 13), but as the guarantor did not fulfill it, NBU filed suit on 6 January 2016. However, this date was not already included in that period.
“Therefore, even if the claim was filed during the validity period of the guarantee, and the guarantor did not satisfy the specified claims, the lender does not have the right to satisfy the claim, which was filed beyond the specified period, because the material right expired with termination of this period ”, according to the decision of the appellate court. The last day of validity of the guarantee is November 27, 2015, according to the court decision.
NBU informed that it has already appealed this decision.
Source: FinClub.
