---
title: "War for 1.8 billion: FGWFL asks the Supreme Court to return funds in the 'Ukrinbank' case"
description: "The Fund for Guaranteeing Deposits is asking the Supreme Court to allow it to participate in the case of the former 'Ukrinbank'. This determines the return to the budget of 1.8 billion hryvnias paid to depositors in 2015. Former bank shareholders, having renamed it 'Ukrinkom', blocked the liquidation procedure and moved the registration to the occupied Sievierodonetsk. ⚖️💸"
date: 2026-07-15T16:14:00.000Z
lang: en
url: https://xab.info/en/posts/fgwfl-asks-supreme-court-to-return-1-8-billion-in-ukrinbank-case
tags: [fgvfl, ukrinbank, supreme-court, ukraine-banking]
publisher: "XAB.info"
---

# War for 1.8 billion: FGWFL asks the Supreme Court to return funds in the 'Ukrinbank' case

![Office building of Ukrinbank with a flag on the facade, linked to a 1.8 billion UAH legal dispute](https://xab.info/media/2026/07/15/fgvfl-prosit-verkhovnyy-sud-vernut-1-8-mlrd-po-delu-ukrinbanka/fgvfl-prosit-verkhovnyy-sud-vernut-1-8-mlrd-po-delu-ukrinbanka-1.webp)

The Supreme Court of Ukraine is witnessing the final stage of a long-standing legal conflict surrounding the former 'Ukrinbank'. The Fund for Guaranteeing Deposits of Individuals (FGWFL) has filed a motion to be admitted to the case, the outcome of which will determine the fate of nearly 1.8 billion hryvnias. These funds were paid to depositors by the state back in 2015, but they have not yet been recovered into the budget.

### How the bank turned into a 'zombie'

The history of the conflict began with a massive cleanup of the banking system conducted by the National Bank. In 2015, the regulator declared 'Ukrinbank' insolvent and removed it from the market. In accordance with the law, the Fund for Guaranteeing Deposits assumed the obligations to clients, transferring 1.8 billion UAH to depositors. However, the mechanism for returning these funds to the treasury was blocked by former owners.

According to the FGWFL, shareholders carried out a complex legal operation, effectively blocking the liquidation procedure. Changes were made to the Unified State Register: the financial institution was stripped of its bank status, renamed to PJSC 'Ukrinkom' ('Ukrainian Innovative Company'), and re-registered from Kyiv to Sievierodonetsk. Currently, the city is under occupation.

### Scheme to bypass creditors

The result of these actions was the transfer of all liquid assets under the control of the new structure. The Fund for Guaranteeing Deposits claims that 'Ukrinkom' is attempting to initiate bankruptcy proceedings as a regular commercial enterprise. This would allow the company to be liquidated under the general code, ignoring special banking legislation that protects the rights of creditors and the state.

In June 2024, representatives of the FGWFL officially referred to 'Ukrinbank' as the last 'zombie bank' in Ukraine. This term is used to describe institutions that have de facto ceased banking activities but de jure continue to exist as non-banking companies, using court rulings to block settlements with creditors.

### Positions of the parties

Representatives of the company 'Ukrinkom' previously rejected the classification of their status as a 'zombie bank', calling this definition incorrect and not reflecting reality. Nevertheless, the situation remains critical for the state: without participation in the judicial process, the Fund for Guaranteeing Deposits risks losing the opportunity to return funds to the budget forever.

The Supreme Court is currently considering the motion to admit the FGWFL to the case. This decision could become a turning point that will allow the recovery of funds paid to depositors more than a decade ago.