1. The subject of the dispute was the decision of the National Bank of Ukraine (NBU) to revoke the banking license and liquidate the Joint Stock Company “Joint Stock Commercial Bank “Concord” (Bank Concord), appealed by the bank’s shareholder.
2. The Supreme Court, considering cassation appeals, focused on the issue of the effectiveness of the method of protecting its rights chosen by the plaintiff. The court took into account the changes in legislation introduced by the Law of Ukraine No. 590-IX, which limit the methods of protecting the rights of former shareholders of banks that are being liquidated, reducing them to claims for damages. The court also referred to the practice of the Grand Chamber of the Supreme Court, which indicates that the cancellation of a decision on the liquidation of a bank does not restore the previous position of the bank and its shareholders, and the only effective method of protection is compensation for losses. The Court departed from its previous position, noting that courts should close proceedings in cases where plaintiffs demand the cancellation of decisions on the liquidation of a bank, as this is an ineffective method of protection.
3. The Supreme Court overturned the decisions of the courts of previous instances and closed the proceedings in the case, recognizing that the plaintiff had chosen an ineffective method of protecting its rights, since current legislation provides only for the possibility of compensation for losses in such cases.
