International Court of Arbitration to consider Russia’s arguments on acquisition of Crimean assets by PrivatBank

The Russian Department сlaims if the tribunal agrees with the proves of the Russian Federation, PrivatBank will be denied from the action completely
22:32, 16 September 2019

Open source

The International Court of Arbitration agreed to consider Russian arguments relating to acquisition of Crimean assets by PrivatBank. This was reported by the press service of the Ministry of Justice of the Russian Federation.

The institution approved that the data that the Permanent Court of Arbitration in The Hague refused the Russian Federation to review the decision on jurisdiction and responsibility of Russia related to the PrivatBank action were distorted.

“The arbitrators permitted to submit evidence that the bank that was controlled by Ukrainian oligarch Ihor Kolomoisky, was the illegal owner of the property, which, according to the plaintiff, had been expropriated," the statement said.

Related: Court in the Hague refuses to review PrivatBank Crimean action

"The bank and its controllers repeatedly violated the law to obtain assets and resorted to corruption. PrivatBank concealed this information. However, after the Russian Federation reported them, the tribunal confirmed that it would hear the parties concerning this issue together with the state's objections on the amount of the bank's losses,” Russian Ministry of Justice reported.

Related: Ukraine's police search PrivatBank office in Dnipro

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