Nadra Bank distorted President’s Order
Ukrainian Business Resource
According to the lawyers, having distorted the President’s Order the
institution violates provisions of the Law on Bank and Banking.
Moreover, reference to the President’s Order is groundless as it, in
fact, is not an act of the direct control. The Order does not mean and
may not imply a directive to alter provisions of laws in force, and
just calls other authorities to pay regard for necessity of
implementation of constitutional powers. In addition, the head of the
state is not known yet to have signed his order or not. If yes, then it
shall come into effect only after promulgation supposed to take 15
days. However to bring the bank to responsibility one needs to prove
that actions of its top managers were intentional and that customers
suffered losses after information related to them had been disclosed.
The Attorney at Law of Volkov Koziakov and Partners Law Firm Lesya Kovtun
commented for UBR that moral damage might be substantiated by loss of
business reputation, disruption of certain business links, contacts,
etc. However, she added, the foregoing information must be confirmed by
respective documents and other grounds as the damage could not be
compensated just for the reason that the information had been disclosed.