Finance minister waiting for report from Rothschild on July 1 to assess ex-PrivatBank shareholders Kolomoisky, Boholiubov

Former shareholders in PrivatBank Ihor Kolomoisky and Hennadiy Boholiubov as of June 29 have not fulfilled liabilities taken in their sole discretion to restructure the bank's credit portfolio before July 1. However, a report from Rothschild&Co, the advisor hired by PrivatBank, is required to assess their negligence, Ukrainian Finance Minister Oleksandr Danyliuk has said.

"At present the liabilities have not been fulfilled. The negotiations are underway. The decisions will be made after them. There are legal conceptions: we are to wait until July 1," the minister said on 24 TV Channel late on Thursday.

He said that an independent assessment must be carried out. A consortium of international companies headed by Rothschild&Co, which also includes Ernst&Young LLC (EY) and FinPoint LLC, was attracted for this purpose.

Danyliuk again said that the ex-PrivatBank shareholders unilaterally announced their liabilities to restructure the credit portfolio in a letter to the Cabinet of Ministers of Ukraine.

"There is nothing secret there. It contains liabilities to restructure the portfolio in the amount of the reserves formed at the moment of the nationalization minus bail-in," he said.

He said that if the liabilities are violated, the consequences for the former shareholders of the bank are clearly described in legislation. Law enforcement agencies are to be involved: Prosecutor General's Office and the National Police.

Commenting on a statement of Oleksandr Shlapak, who previously was finance minister and tapped to head PrivatBank's board in December 2016, about his plans to resign, the minister said that the bank is looking for a new head.

"The situation is under control. We are looking for a person suiting the post. When it happens, Shlapak can keep his career going," Danyliuk said.