"The claims under the lawsuit are substantiated by the fact that under the contract of term bank deposit, the company has deposited 552 million UAH at 9% annual in the bank. However, the parties subsequently increased the annual rate unreasonably to 48% per annum, which allowed the company to illegally obtain additional 283 million UAH," the statement reads.
The Prosecutor General's Office stressed that wrongfulness of raising interest rates is confirmed by the courts, which ruled that supplementary agreement to the contract of bank deposit was invalid, but these funds were not returned to the bank.
"In spite of these circumstances, the Economic Court of Kyiv denied the prosecutor's claim. Only thanks to the consistent position of the prosecution, based on the hearing of the appeal, the Kyiv Economic Court of Appeal agreed with the validity of the arguments of the suit and on April 14, 2015 overturned the decision of the local economic court," the PGO noted.
At the same time, the Court of Appeal made a new ruling, which upheld the claim of the Prosecutor General's Office.
"The court's decision came into force and is to be executed," the statement notes.