Court rules in favor of ex-PrivatBank owners

Source : 112 Ukraine

The National Bank of Ukraine intends to appeal the decision
18:59, 19 April 2019

District Administrative Court of Kyiv ruled in favor of the former owners of PrivatBank in the case on nationalization of the establishment No. 826/13813/17, as the press office of the National Bank reported.

The court has granted the lawsuit of the Cypriot company of Triantal Investments Ltd. According to NBU, it is under the control of ex-stakeholder of PrivatBank Ihor Kolomoysky.

Related: Privatbank cannot be returned to ex-owners after nationalization, - Deputy Head of National Bank

“This decision of the National Bank is one of the most important within the process of the withdrawal of insolvent PrivatBank from the market with the participation of the state,” the representatives of the body stated.

The National Bank intends to appeal the decision.

Related: Kolomoysky’s lawsuit on return of PrivatBank shares: Court postpones consideration for May 7

“The decision of the court has not come into force and, of course, it will be appealed,” Viktor Hryhorchuk, the Head of claim-related work of the judicial department of National Bank, said.

He stated that such decision might lead to loss of the means of the taxpayers, it also threatens banking and financial stability of the country.

Related: Ukraine's oligarch Kolomoysky demands to return him USD 2 bn from Privatbank

On April 18, Kyiv-based court ruled that the nationalization of Privatbank in late 2017 was 'conducted with multiple law breaches'. The court, thus, granted the motion by Ihor Kolomoisky, the oligarch who appealed against the nationalization of the bank he had owned.

District Administrative Court of Kyiv granted the claim of Ukrainian oligarch Ihor Kolomoysky against the National Bank of Ukraine and Ukraine’s Government on nationalization of PrivatBank.

Related: Major breakdown of Privatbank's ATMs, terminals

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