NBU contests court decision blocking seizure of Bakhmatiuk's property

The National Bank of Ukraine (NBU) has contested the decision of the Kyiv Pechersky District Court dated May 26 to block the seizure of businessman Oleh Bakhmatiuk's property in accordance with the wishes of the central bank, the press service of the regulator has told Interfax-Ukraine.

"The National Bank appealed against the decision of the Pechersky District Court on blocking property seizure imposed on May 12 in the framework of the claim to recover the debt on a stabilization loan of UAH 4 billion issued to Bank Finance Initiative, whose beneficiary is Bakhmatiuk," reads the report.

According to the regulator, stabilization loans worth UAH 4 billion were issued in 2014, while the pledge was the property and property rights of legal entities, and Bakhmatiuk acted as financial guarantor for these loans.

The National Bank of Ukraine on June 23, 2015 declared Bank Financial Initiative insolvent.