12/07/2022 The Southwestern Economic Court of Appeal satisfied the appeal of LLC “Agroterminal” and canceled the decision of the Economic Court of Odessa region dated October 30, 2020 (on case No. 916/599/18), which satisfied the claim of Privatbank against Agroterminal LLC “Borivage” to recover UAH 1 billion of debt, writes Finbalance.
According to court materials, Privatbank terminated the loan agreement (No. DNHSLOK06924 of November 4, 2016) due to the debtor's breach of its obligations.
At the same time, Agroterminal LLC noticed that the deadline for repaying the loan established by the loan agreement , – 03.11.2026, and, accordingly, the deadline for fulfilling obligations to repay the loan has not come.
The court of first instance decided that Privatbank had rightfully exercised its right to send a notice of early termination of the loan agreement.
The Southwestern Economic Court of Appeal refused to satisfy Privatbank's claim against Agroterminal LLC for the recovery of UAH 1 billion.
The court of appeal stated that “the conclusion of the local economic court on the existence of grounds for satisfying the initial claim with the simultaneous application of the terms of the disputed contract both in the wording of the plaintiff and in the wording of the defendant in the aggregate, applying the“ extended terms ”of such transactions, is unlawful” (quote ).
As Finbalance wrote, on October 25, 2022, the Economic Court of the Dnipropetrovsk region satisfied the claim of Privatbank against Borivazh LLC (in case No. 904/6357/20) and terminated the loan agreement No. DNHSLON06941 (with a credit limit of UAH 2.87 billion)1, concluded1 by the plaintiff and the defendant.
In addition, the court recovered from Borivazh LLC in favor of PrivatBank the overdue debt on payment of interest for using a loan for the period from 12/26/2019 to 09/25/2020 in the amount of UAH 230 million.
On September 21, 2022, the Central Economic Court of Appeal refused to satisfy the appeal of Privatbank and upheld the ruling of the Economic Court of Dnipropetrovsk Region dated June 30, 2022 (in case No. in the pledge agreement, the collateral value of the subject of pledge was determined in the amount of UAH 5.5 billion).
The aforementioned Agroterminal Logistic LLC was the guarantor of PrivatBank for refinancing, attracted by the bank to the NBU even before nationalization. The subject of the mortgage was the Borivazh grain terminal in the Odessa region (in the water area of the Yuzhny port, the total transshipment capacity is 2 million tons of grain per year), its cost, agreed by the parties to the mortgage agreement, amounted to UAH 5.54 billion.
This asset was associated with the Privatovites.
As of July 1, 2022, PrivatBank had no refinancing debt to the NBU.
According to Privatbank, the volume of its loan portfolio, which it links with previous shareholders, at the end of Q3 2021 amounted to UAH 163.9 billion (at the beginning of 2021 — UAH 164.3 billion, at the beginning of 2020 — UAH 210.6 billion ).
According to the bank, in 2020, at the expense of the reserve, it wrote off loans associated with ex-shareholders in the amount of UAH 56.7 billion from the balance sheet.
Privatbank noted that “it will continue take measures to return the written off debt “(quote).
At the same time, Igor Kolomoisky has repeatedly publicly denied the information of the NBU and the leaders of Privatbank that about 95% of the bank's corporate portfolio formed before the nationalization were insider loans.</p
According to the statistics of the National Bank, as of July 1, 2022, the volume of non-performing loans in Privatbank's portfolio amounted to UAH 175.1 billion. The share of non-performing loans in the loan portfolio of Privatbank as of 07/01/2022 is 66.5%.
The appeal unblocked the consideration of the lawsuit on the illegality of the nationalization of PrivatBank
NBU lost to Kolomoisky the grain terminal court