Feedback

Decision on PrivatBank complicates cooperation with IMF and EBRD, - National Bank

It also prevents protection of the state interests in litigation in other jurisdictions for damages caused by former owners of PrivatBank
17:04, 20 April 2019

politeka.net

The decision of the court in the case on nationalization of PrivatBank hinders the cooperation with the international financial organizations. The National Bank of Ukraine reports after the session of the Financial Stability Board with the participation of IMF, World Bank and EBRD representatives on its website.

Related: Court rules in favor of ex-PrivatBank owners

“This decision of the court complicates the cooperation with international financial organizations, in particular, IMF, World Bank, and EBRD. It also prevents protection of the state interests in litigation in other jurisdictions for damages caused by former owners of PrivatBank,” the report said.

At the same time, the report emphasizes that the bank is working in the normal mode and fulfills all obligations to clients on time.

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

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

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more
latest news
editor's choice
video