Economic Court of Donetsk region took the unprecedented decision to allow the borrower does not repay the loans obtained in foreign currency. Company Hotel Central persuaded a judge to invalidate a loan agreement with VTB Bank amounting to $ 18.8 million lawyers have no doubt that hundreds of borrowers will follow the experience of companies that face significant financial problems for banks.
Available Kommersant-Ukraine was a copy of the decision of the Economic Court of Donetsk region in the case number 9/70pd, which the court invalidated a contract granting of credit and foreign exchange contract liens on it. According to the document, the Donetsk branch of VTB Bank in June 2007 decided to issue multi-currency credit facility OOO Hotel Central for $ 13 million to June 2013. In December 2007 the line was increased to $ 19.4 million with the possibility of borrowing in U.S. dollars, UAH and Russian rubles. As part of the contract hotel Central has received from the bank for the construction of office center $ 18.833 million and 2.864 million UAH, his real estate area of 7,289.8 square. m.
court granted the suit of the annulment of contracts based on the fact that the only legitimate means of payment that is applied in the territory of Ukraine is the hryvnia, but in a foreign currency may be determined by the price of foreign trade agreements. The Court considered that at the conclusion of the currency of the contract both parties were required to obtain foreign exchange NBU license. The court did not take into account the existence of a VTB Bank monetary general license. Obtaining an individual license is a prerequisite for the legality of the issuance and receipt of credit regardless of the amount of funds that are provided by the bank and their term of repayment by the borrower, - says the court decision. Payment of state fees and information costs the court divided equally between the borrower and the lender.
But the hotel Central is not agreed to pay 54,25 UAH and filed an appeal on this part of the solution. During the meeting of the Donetsk Economic Court of Appeal on September 14 VTB Bank unsuccessfully tried to reverse the ruling of the previous instance. The court clarified that the obligation not to be invalid provision. Get comments VTB Bank and JSC Hotel Central yesterday failed. But in an interview with The Mirror of the Week board chairman of the Bank VTB Vadim Pushkarev, predicted that judicial lawlessness soon supplemented by lawlessness and criminal.
Lawyers
surprised the decision vessels. The Bank has a general license to engage in currency transactions, and therefore had the right to issue currency loans - is sure partner law firm, Vasil Kisil and Partners Denis Lysenko .- An individual license is required for the calculation of commerce, and credit - is the relationship between the bank and the borrower .
Experts do not doubt that these court decisions will encourage other borrowers to make similar decisions. We have a precedent for recognition bankrupt physical persons. It was a gorgeous visual aid for hundreds of physical persons, borrowers who have gone the same way - says managing partner law firm Lavrynovych and partners Maxim Lavrinovic .- such decisions can completely destroy the banking system . Yet lawyers are hoping that such decisions would not be massive after clarification of the Supreme hozsuda, in which VTB Bank may file an appeal. We would not have taken up such cases. I think the higher courts will take a categorical position and the case has a chance to be resolved in favor of the bank, - said Denis Lysenko.
TGC-14 in the period 2010 - 2015, plans to send to the investment program of about 4 billion rubles a year small retail investors have spurred demand for the Ukrainian stock market. The only question is whether they can revive it …
Analytical review of the Forex Market for October 19
Economists are predicting a new crisis in Russia
Ukrainian Americans are ready to rescue troubled banks
Turkey allowed exploration work on the project South Stream
Stock market: new blood
European stocks rise on Monday, Stoxx 600 is close to the maximum from October 2008
The Ukrainian stock market went into the Comma delimited, concluded Monday the negative dynamics of the indices
Forecasts of analysts: Soaring oil prices and positive economic situation of world stock markets will boost Russian indices