Deposit Guarantee Fund puts up for sale loans with tourist apartments in Odesa

The Deposit Guarantee Fund has announced an auction to sell the assets of Ukrbudinvestbank, a joint-stock company being liquidated by the Fund.

According to the DGF's press service, the auction was announced in the Prozorro system.

The property is pledged as collateral for the bank's obligations to the premium tourist destination - apartments with kitchens in a modern tourist complex in the Arcadia resort area on the coast of Odesa (Gagarin Plateau): 11, 12 and technical floors of a 16-storey building with a total area of 1 thousand 80.5 square meters.

It is noted that the property for sale is not collateral, but the right to collect debts from the debtor or collateral in court or out of court. The auction will be held according to the Dutch auction model. The starting price is UAH 63 million 432.6 thousand.

This is not the first attempt to sell these assets. On May 1, 2024, the auction failed due to the absence of participants with a starting price of UAH 57 million 934.2 thousand.

The National Bank of Ukraine decided to revoke the banking license and liquidate Ukrainian Construction and Investment Bank (Ukrbudinvestbank) in October 2023, following a proposal from the Deposit Guarantee Fund. On September 7, the NBU declared Ukrbudinvestbank insolvent. The NBU justified its decision by the lack of effective measures taken by the bank to improve its financial condition.

As Forbes reported, the ultimate beneficial owner of the bank was Svitlana Demyanenko, who owned a 74.9% stake. Until June 2020, 46.3% of the shares belonged to Yulia Tymoshenko's son-in-law Artur Chechyotkin. Artur Chechyotkin and Svitlana Demyanenko became shareholders of the bank at the same time - in 2016, they bought the bank from Nver Mkhitaryan (53.7% of shares) and the Swiss company Aspra Finanz Holding AG (46.3%).

Also, the regional office of the State Property Fund in Odesa and Mykolaiv regions has once again put up for auction a controlling stake in PJSC Machine-Building Production Association Orion.