If an interested investor or a receiving bank was not found, or its offer was rejected because it did not comply with the least cost test, the DGF applies to the NBU with a proposal to revoke the bank's license and liquidate the bank.
Upon receipt of such a decision of the NBU, the DGF starts accepting and verifying creditors' claims and forms the liquidation fund (a register of the bank's inventoried and valued property). Guaranteed deposits are not subject to additional verification and are paid out through the DGF's network of agent banks. Other creditors must submit a creditor's claim within 30 days from the date of publication of information on the start of the bank's liquidation.
Accepted (verified and confirmed) creditor claims are repaid at the expense of and as the bank's property is sold in accordance with the priority of creditor claims established by law. The sale of assets of an insolvent bank usually takes several years.
Most of the property is sold at auctions on Prozorro.Sale. Smaller items, such as furniture, computer equipment, etc., can be purchased directly from the bank.