UK High Court orders seizure of Zhevago’s assets at NBU’s request

On July 11, the High Court of England and Wales issued an order to seize certain assets belonging to the former owner of Finance and Credit Bank, Kostyantyn Zhevago, according to the National Bank of Ukraine's press service.

"Despite strong resistance from the former owners of insolvent banks—who continue to delay proceedings and manipulate the judicial process—the National Bank remains committed to recovering refinancing debts from insolvent banks, including Finance and Credit Bank. We welcome the decision of the High Court of England and Wales as another step toward achieving this goal," said Andriy Pyshnyi, Governor of the National Bank of Ukraine.

The London court's order is aimed at securing the NBU’s claim for recognition and enforcement in England of a ruling issued by the Shevchenkivskyi District Court of Kyiv on October 1, 2019.

That ruling awarded the National Bank UAH 1.54 billion in damages from Zhevago to cover the bank's unpaid refinancing loans.

• In 2019, Zhevago was officially named a suspect in the alleged embezzlement of UAH 2.5 billion from Finance and Credit Bank and was placed on an international wanted list.
• In late December 2022, Zhevago was detained in Courchevel, France, but French authorities declined Ukraine's request for extradition.