OREANDA-NEWS. January 19, 2012. The Supreme Judicial Court of Moldova to examine claims against the National Bank of Moldova, sued by two groups of shareholders of Investprivatbank, which is in the process of winding up now. The shareholders demand to abrogate the order of NBM according to which a license to engage in banking activity is withdrawn from Investprivatbank and a liquidator of the bank is appointed. The shareholders also require repairing the damage to property at an amount of 45 mln. EUR and 228 mln. MDL.

On November, 15, 2011 the Constitutional Court of Moldova declared constitutional the articles of the law about Financial Institutions on the basis of which the National Bank had withdrawn the license from Investprivatbank. The National Bank gas defended the suit initiated by the shareholders of Investpivatbank, which include 26 individuales and such companies as Tabor Projects Limited, Brendelco Limited, Karaka Holdings Limited, Karo Holdings Limited, Kauri Holdings Limited, Centar Trading, SC PSV Company. All these suitors has required to cancel the order of NBM withdrawing the license from Investprivatbank and appointing a liquidator, which was signed on June, 19, 2009.

The case was examined by the Supreme Constitutional Court, which addressed to the Constitutional Court on May, 18, 2011 to verify constitutionality of the above-mentioned articles of the Financial Institutions Law. The Constitutional Court ruled them constitutional and confirmed the National Bank’s operating in strict compliance with the Constitutional norms and protecting interests of depositors.

The case now is again to be examined by SJC. It should be admitted that the state has already sank debts of Investprivatbank to creditors. For example, the debt of the bank before Banca de Economii was transmitted to the ministry of finance at a sum of 428,5 mln. leis. Now the indebtedness makes up 294,8 mln. leis to legal entities and 48,1 mln. leis to the Fund of t Guaranteeing of Deposits in Banking System.