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Incident NPL in Ukraine (google auto-translate)
Incident NPL in Ukraine (google auto-translate)
In Ukraine the indicator of bad loans in the total portfolio of banks for several years held the record for European and global banks level. Given the fact that in fact, new lending to the corporate sector is chronically critical level, that is, "depositing" the portfolio of new loans is not happening. Therefore, when compared to the NPL in Ukraine with other countries, if we normalize the data on the portfolio of loans issued before 2014 will be generally unacceptable picture. For the sake of the recovery of the banking system and the resumption of lending, especially of strategic enterprises the majority of which are clients of public banks, has implemented a project on introduction in action of the law of Ukraine "On financial restructuring".
Once completed the procedure of financial restructuring
Once completed the procedure of financial restructuring
Congratulations to the company "MARIST-TREJD"(OKPO: 34550708) and PJSC "Alfa-Bank" with the successful completion of financial restructuring.

We wish all participants success in business and successful execution of all tasks.
A new procedure of financial restructuring
A new procedure of financial restructuring
Opened a new financial restructuring.
Attracted by the lender - PJSC "ALFA-BANK"
Debtor company - PRIVATE JOINT stock company "UKRAINIAN-CANADIAN JOINT-venture company "TORONTO-KIEV"(OKPO: 14302294).
Round table on financial restructuring of banks in Ukraine
Round table on financial restructuring of banks in Ukraine
As part of a series of activities to promote the ideas and possibilities of the law of Ukraine "On financial restructuring"(hereinafter the Law), the Secretariat acting within the Law along with NABOO and with the support of EY in Ukraine, will organize a round table on "Financial restructuring – international experience and practical advice" for banks of Ukraine.


New business with financial restructuring
New business with financial restructuring
Opened a new financial restructuring. The company is a debtor - LLC "TORF LAND UKRAINE"(EDRPOU: 32979319). Attracted by the lender - PJSC "State savings Bank of Ukraine"
Round table "Advantages and disadvantages of the use of the law of Ukraine "On financial restructuring"
Round table "Advantages and disadvantages of the use of the law of Ukraine "On financial restructuring"

The Secretariat on the implementation of the Law of Ukraine "On financial restructuring" (hereinafter –the Secretariat), organized with the support of the Independent Association of Ukrainian banks (NABU) and the European Bank for reconstruction and development (EBRD), continuing work on the practical implementation of the Law of Ukraine "On financial restructuring", invites You to participate in a thematic event in the format of a Round table: "the Advantages and disadvantages of the use of the law of Ukraine "On financial restructuring".

 
Banks are allowed to write off bad loans without tax consequences (auto-translate)
Banks are allowed to write off bad loans without tax consequences (auto-translate)
The state fiscal service has withdrawn its letter from 08.02.2017 year, which established that is recognized bad debt is only part of the amounts of debt over 360 days. That is, if a debt exists only in the body of the loan and accrued interest is missing for taxation shall be only payable on the loan.This contributed to the Ministry's position, formulated in response to a request from NABOO.
Article: "exploding the myths: what is the law on financial restructuring" (auto-translate)
Article: "exploding the myths: what is the law on financial restructuring" (auto-translate)

The new law has already started four procedures of debt restructuring

Since the start of the work of the Secretariat established in accordance with the law "On financial restructuring", considering four cases. We see a great interest of banks and business in the procedures of financial restructuring. However, as is the case with any new phenomenon, has arisen a lot of myths and subjective interpretations.

The law "On financial restructuring" gives lenders and borrowers the opportunity to restructure their loan agreement using voluntary extra-judicial procedures. But few people understand the overall ideology of the law and the meaning that was laid into it by the developers.

5 pressing questions about financial restructuring (auto-translate)
5 pressing questions about financial restructuring (auto-translate)

From the beginning of April 2017, two Ukrainian company restructured its obligations to creditors. And more number of borrowers is now in the process of voluntary financial restructuring.

We chose the 5 most common questions about the opportunities offered by the current law. They replied the head of the Secretariat, which oversees the system of financial restructuring, Yuliia Kostetskaya.

The completion of financial restructuring
The completion of financial restructuring
Today, in connection with the receipt of notice of approval of PJSC JSCB "INDUSTRIALBANK" the restructuring plan of the debtor, LLC "Bestment-service", successfully completed the procedure of financial restructuring in this case.

At this time, this is the second successfully completed the restructuring process carried out according to the law of Ukraine "On financial restructuring".
The completion of the first procedures of financial restructuring
The completion of the first procedures of financial restructuring

Today, in connection with the approval of the company ""Finance company "Morgan capital" of the restructuring plan of the debtor, OOO "SVS-Shumsk" was successfully completed and the procedure of financial restructuring in this case.

At this time it is the first successfully completed process of restructuring, conducted according to the law of Ukraine "On financial restructuring".

The first case from a commercial Bank
The first case from a commercial Bank
Today, the Secretariat had registered the statement of the financial restructuring, where brought by lender is a commercial Bank PJSC JSCB "Industrialbank".

This is the first statement from the commercial Bank since the opening of the work of the Secretariat.

I hope to further enhance the activity of banks and financial institutions in the framework of the Law of Ukraine "On financial restructuring".
Official appeal the Chairman of the Supervisory Board Serhii Shkliar
Official appeal the Chairman of the Supervisory Board Serhii Shkliar

Dear colleagues,

It is my honour to inform you that the Law “On Financial Restructuring” №1414-VIII dated 14.06.2016 (referred to herein as the Law) came into force on October 19th, 2016.
The Law is directed at clarifying the conditions and the order for performing the procedure of voluntary financial restructuring with the aim of restoring the commercial activity of the debtor enterprises. With respect to the fact that, under the Law, the procedure of voluntary financial restructuring is available exclusively to debtors with financial institutions among their creditors, we would like to address you with the following information:

Sergiy Shklyar: "We are ready for financial restructuring" (auto-translate)
Sergiy Shklyar: "We are ready for financial restructuring" (auto-translate)
The procedure of financial restructuring provided for debtors whose activity is potentially promising, but they are experiencing temporary financial difficulties as a result of the rapid devaluation of the national currency, loss of markets, falling revenues and margins, says in his column the Deputy Minister of justice in the Executive service Sergiy Shklyar, who became the Chairman of the Supervisory Board set up pursuant to the requirements of the law "On financial restructuring".

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The project is funded by a grant received from the European Bank for Reconstruction and Development under the Shareholder Special Fund.
The project is implemented by the administrative and financial support of NABU.