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Want to do business in Belarus? Make friends with the Lukashenko family!

Хочешь вести бизнес в Беларуси? Дружи с семьей Лукашенко!

In January 2016 the Economic court of Minsk region on the suit of the Manager of the liquidation of JSC “Delta Bank” Alexander Yanukovych sought with the company “Golf club” payment of the coupon income on the bonds is 1.2 million dollars, and obtain early redemption of the bonds in the amount of 7.6 million, writes Forbes Ukraine. Since “the Golf club” no money, penalties will be imposed on the company built a Golf course at an estimated cost of $ 11 million.

Thus, already in March, Nikolay Lagun will lose its last asset in Belarus. “In respect of “Golf club” we actually made by the custodian of the property. Handling this asset was not property understood on the part of lenders and simply stolen. Now set the protection. All funds will go toward the repayment of obligations of the Bank, “said TUT.BY Alexander Pedko.

Business partner in the Laguna project “Golf club” was the middle son of President Dmitry Lukashenko through the “Presidential sports club”. About how the partnership collapsed, the Ukrainian edition said Nikolay Lagun: “it has Become obvious that we will not be able to increase their investments in Belarusian projects. It did not suit the local authorities, although no grounds for declaring insolvent the Belarusian Delta Bank was not“.

But that all changed with the beginning of political and economic crisis in Ukraine after the change of government in 2014. As he says Lagoons, on the attitude of the authorities of Belarus could affect its Ukrainian problems. “We have become weaker, began an attack on our assets in Ukraine and similar actions began to take place in Belarus”, — says the banker.

Lagoon says that his attempts to get the possibility to save the Bank the authorities of Belarus did not respond. Moreover, the Investigative Committee of Belarus on the fact of bankruptcy of the Bank has filed a criminal case, stating that he was bankrupt intentionally.

Lagoon asserts that he had the opportunity to stabilize the situation: retail loan portfolio of the Bank was of high quality and generated income, which in conjunction with retail business “Native Side” allowed to maintain stability in the Belarusian Delta Bank. However, the banker has told that attempts to save the Bank in Belarus still took, what, in particular, the court was told by the representative of the national Bank.

The representative of the chief of banking supervision of national Bank Vladimir Muravlev told how events unfolded around the Bank before the revocation of the license.

Until December 2014, according to the regulator, the Bank worked in a usual mode, and reporting all was fine, except for minor violations.

In December, the Bank originated a very serious liquidity problems. Began to receive numerous complaints of individuals and legal entities of tardy execution by the Bank of its obligations“, — said the representative of the NBB. In December, the national Bank had to have a Delta credit Bank support: the Bank received a loan of 320 billion roubles, plus on a daily basis, the controller was implemented short-term liquidity support. Total debt was 500 billion. To help the controller to save the troubled Bank and had the Belarusbank, the total amount owed to them has reached 300 billion roubles.

If we trace the structure of Finance Bank, in December 2014 there was a significant outflow of funds of legal entities from the Bank“, — stated the representative of the national Bank. However, individuals continued to carry the money to the Bank offering higher rates.

In December the owner of Nicholas Laguna summoned to a meeting of the Board of the national Bank, where he explains the cause of the problems in the Bank, and the ways out of the crisis. “In the future the Bank’s financial position was reviewed on a monthly basis. At all meetings of the Board of the national Bank attended the Lagoons, which, according to Board members, assured that the assets placed in banks-non-residents are recurrent and he needs only time, and prerequisites for bankruptcy no, “said Madrigali.

In January 2015, the national Bank recognizes financial condition of the Bank is unstable and restricts its banking operations on attraction of funds of natural persons in the currency, prohibits the payment of profit to shareholders, encourages them to increase the capitalization of the Bank, to reduce the volume of credit portfolio of individuals.

After a month it became clear that Delta Bank established restrictions on attraction of means in foreign currency do not comply. In December-January, the Bank dramatically increases the attraction of funds of individuals. On December 19, 2014 attracted funds of individuals in Bank account for 1,382 trillion rubles, including 43 million dollars. On February 1, 2015, an amount of up to 1,776 trillion, including $ 70 million.

Any measures on increase of capitalisation the Bank has not taken, the situation with liquidity did not improve, stated Madrigali. Independently, neither the shareholders nor the management of the Bank to the claims of creditors and depositors could not cope. In February, the regulator limited Delta Bank separate active operations on placement of funds in all urlize, which, according to the regulator, had lahun, including JV NTS (“Rodnaya storona”), “Golf club” (Golf course and cottage village “Greenwich”), “Delta Insurance”.

The Bank has recommended not to increase the size of funds individuals and decided to give another little period of correction, decided to return to the situation in early March. On March 12 at Delta Bank introduced a temporary administration. And on 18 March, the Bank lost its license due to “failure of individual licensing requirements, as well as the creation of the financial situation, which has caused the non-performance by the Bank of its obligations to depositors and other creditors”.

Of liquid assets the Bank has left the property in the near future re-auction, and the loan portfolio more than $ 1 trillion. Part of the portfolio, about 20%, was sold to the Bank Moscow-Minsk at a discount of 5%.

Our business just ripped by a decision from above, “says Forbes Ukraine Lagoon, which now plans to sue the Belarusian authorities in international courts. But the return on investment he clearly does not compute. “We Belarusian stage in my life closed, “said the businessman.

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