The closed non-diversified venture corporate investment fund (CNVCIF) “Recovery”, being the part of ICU Group, decided to participate in the auction on the sale of assets of bankrupt banks, which will be held on U.S. platform First Financial Network (FNN), Ukrainian News reports quoting ICU.

In particular, Investment Capital Ukraine LLC, being the part of ICU, decided to increase the authorized capital of Recovery CNVCIF from 4 to 5 bln hryvnias.

The company approved the offering memorandum for carrying out investment activities, which should be registered by the National Securities and Stock Market Commission.

“The company plans include the work with non-performing loans, including real estate, which is realized by Ukrainian banks and the Individuals’ Deposit Insurance Fund.

The Fund also plant to participate in the auctions, organized by the First Financial Network (FFN) (First Financial Network) – Director of Local Assets Management Department of ICU Group Grigori Ovcharenko told.

On September 19, U.S. specialized platforms First Financial Network (FFN) and The Debt Exchange, Inc (DebtX) will conduct debut sales of overdue loans on behalf of the Individuals’ Deposit Insurance Fund.

The auction on the sale of the package of 52 loans, pledged by NBU, totaling 170 mln dollars, will be held on FNN.  

The above-mentioned loans were provided to commercial structures, are pledged with different food business, the plant, producing equipment, the companies on processing the agricultural products, real estate etc.

The package from 52 loans is sold with one lot.

DebtX will hold a closed auction on behalf of the Deposit Insurance Fund for the amount of USD 240 mln.