“The co-founders of “Concord” Olena and Yuliya Sosyedka proved in court that the NBU illegally liquidated their bank. Courts of the first and appellate instances found the NBU’s decision to liquidate the “Concord” bank to be illegal. The Sosyedka sisters proved the absence of bank violations, but the liquidation process remains irreversible.”, — write on: unn.ua
“Olena and Yuliya Sosyedka submitted statements about the criminal actions of officials, which have already become the subject of criminal proceedings. They have already proved in the courts (this is the first and appellate instance – ed.) that the decision to liquidate Concorde is illegal. They have the results of examinations and other court decisions that prove the absence of violations by the bank, there are no criminal proceedings against them,” says the video posted on Elena Sosedka’s Facebook page.
It is noted that on August 1, 2023, the National Bank of Ukraine decided to revoke the banking license and liquidate “Concord”, referring to violations in the form of “miscoding”. This is the incorrect coding of transactions after the legalization of gambling in Ukraine. However, “Concord” has consistently fulfilled the requirements of international payment systems Mastercard and Visa and had no fines or remarks in the last two years.
“For example, two years before the decision of the National Bank, Concord restricted P2P transactions via API, leaving this function only in its application. Despite this, sanctions were applied only to Concord, and other banks, which were also accused of miscoding, were overlooked by the NBU,” the video emphasizes.
We will remind
Earlier it became known that the shareholders of “Concord” appealed in court the decision of the National Bank of Ukraine to withdraw the bank from the market. The Dnipropetrovsk District Administrative Court found the NBU’s decision to revoke the license and liquidate “Concord” bank to be illegal and annulled. However, Ukrainian legislation is written in such a way that the process of withdrawing a banking institution from the market, if it is started, is irreversible.
Despite the war in Ukraine, the process of withdrawing banks from the market did not stop. Thus, from February 24, 2022, the liquidation was started for 8 banks. In 2023, for the first time in Ukraine, not only bankrupt banks, but also profitable institutions came under liquidation and license revocation – we are talking about Concord Bank. As Olena Sosedka stated, at the time the regulator announced the decision to liquidate the bank, highly liquid assets in the financial institution were enough to make all the necessary payments in 2-3 weeks. But the process of bank liquidation is strictly regulated by law and can last up to three years in general.