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Bank customers have the right to claim compensation for the bank secrecy disclosure


INTERFAX-UKRAINE Kyiv, October 13

Nadra bank’s activities are regarded as the outrage of law which envisages that a client may claim for compensation for both material and moral damages. Lawyers interviewed by Interfax-Ukraine believe that such a breach of law is difficult to prove by the bank’s individual clients.
The aim of the interviewing was to evaluate Nadra’s actions regarding publication of the list of 42 thousand individual loaners on the web-site – small and medium business entities, corporate clients with overdue debts.
Each facility agreement is subject to contain the confidential clause. According to Vladimir Shabelnik, lawyer of Alliance All-Ukrainian Law Firm, pursuant to part 2 of Article 1076 of the Civil Code of Ukraine, a client may claim for compensation for both material and moral damages in the event of bank secrecy disclosure by the bank. Thereby, the loaners may apply to court with relevant claim against Nadra bank. Moreover, Article 60 of the Law of Ukraine “On Bank and Banking Activities” envisages that information regarding the organisational and legal form of legal client, its management and areas of business are regarded as the bank secrecy.
Additionally, Mr. Shabelnik believes that Article 232 of the Criminal Code of Ukraine provides the criminal responsibility for deliberate disclosure of commercial and bank secrecy without its owner’s permit by a person who is aware of the secrecy by their professional or official activities if such information is disclosed by lucrative or other impulses and causes a significant damage toward a business entity.
Our interlocutor emphasised that then it was difficult to determine who was to blame for the Nadra bank secrecy disclosure, the scope of damage and reasons for such actions but the criminal responsibility up to two years of imprisonment is envisaged.
Lesya Kovtun, attorney at law of Volkov Koziakov & Partners, holds the opinion regarding the loaners’ secrecy illegal disclosure by Nadra bank, as the Decree No. 813 of October 08, 2009 does not provide the legal rights for the bank secrecy disclosure. According to Lesya Kovtun, the Decree does not move amendments to paragraph 10 of the Law of Ukraine “On Bank and Banking Activities” regarding the principles of the bank secrecy disclosure and does not concern the commercial banks. It concerns the National Bank of Ukraine’s, the Cabinet of Ministers’ and the General Prosecutor’s Office activity only, claims Ms. Kovtun evaluating the Bank’s actions which follows the Decree’s provisions. As reported, Nadra bank following the Decree No. 813 of October 08, 2009 on stabilisation of banking system published the list of 42 thousand of individual loaners on the official web-site, small and medium business entities, corporate clients with overdue debts.
As of October 01, 2009 the list of debtors numbers 286 corporate clients. Iliya Segal group’s (22 companies) and Igor Yeremeyev’s group (11 companies) are leaders in the list of debtors. Toliman Ltd. OJSC, member of Vadim Alperin’s group; Kvadro Private Enterprise (Oleg Grinko’s group); Granitnyi Karier Ltd. and Demidovsky Karier TD Ltd. (Vladimir Halitsky’s and Vladimir Maystrishin’s group); Rudis Ltd. (Vitaliy Babich’s group); Rais CJSC (Vitaliy Tsekhmisternko’s group) etc. are debtors. Therewith, pursuant to Article 60 of the Law of Ukraine “On Bank and Banking Activities”, the organisational and legal structure of legal client and its commercial activities are regarded as the bank secrecy.
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