Cargill requires confirmation of $70 million charge-off from Privatbank accounts

The American company Cargill sent a letter to Privatbank Board Chairman Alexander Shlapak, Head of NBU Valeria Gontareva and Finance Minister Alexander Danyluk demanding to confirm the debiting $70 million from Cargill accounts into the bank's capital in compliance with the decision of NBU, the Ministry of Finance and the Cabinet of Ministers.

This was reported by the TV show Money host Alexander Dubinsky (TV channel 1+1) on his Facebook page with the reference to the official letter of the company.

“The Corporation demands to provide the terms of the bank shares purchase contract, which were thus sold by the Ministry of Finance. The Corporation informs about their intention to recover all their money by any means. In fact, this letter gets the recipients in the tight corner. They should either confirm the actual theft of Cargill funds during Privatbank nationalization, or return the money to the accounts of the company", he writes.

According to Alexander Dubinsky, Finance Minister Alexander Danyluk has been invited tomorrow for an audience with the American Ambassador.

"After that Cargill will obviously appeal to the US Supreme Court, and then Privatbank currency correspondent accounts will be arrested within a few days", he added.

It was earlier reported that, during the interim Privatbank administration the Deposit Guarantee Fund converted $70 million of Cargill deposits into Privatbank shares.