The Guarantee Fund sold Sich Bank’s asset with elite real estate in the center of Kyiv for over UAH 37 million

The Deposit Guarantee Fund for Individuals successfully sold its right of claim under an individual loan secured by elite real estate in the center of the capital through the Prozorro system. The asset of the insolvent JSC Bank Sich was sold for UAH 37.3 million.

As reported by the Deposit Guarantee Fund, the auction took place on May 19 within the framework of the sale of lot No. GL3N028241. The winner was the only bidder who stopped the automatic phased price reduction at UAH 37.3 million.

The debt under the loan agreement amounted to UAH 43.4 million, this amount was determined by the starting price of the lot. The ratio of the sale price to the book value of the asset was 86%.

The Fund notes that this was the fifth attempt to sell the asset, which ultimately ended in a successful sale. The buyer paid in full for the lot, and the purchase and sale agreement has already been concluded.

The collateral for the loan is a premium-class apartment with an area of ​​698.2 square meters, located at 18a Instytutska Street in Kyiv. The living area of ​​the property is 357.7 square meters.

In addition, three garages-car parks in an underground parking lot with a total area of ​​over 36 square meters are pledged.

The new owner of the asset received the right to demand repayment of the loan debt from the debtor or to foreclose on the collateral in accordance with the procedure established by law.

As a reminder, the National Bank declared JSC Bank Sich insolvent in August 2022. After that, the Deposit Guarantee Fund began the procedure for withdrawing the bank from the market and selling its assets to satisfy the creditors’ claims.