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Supreme Court postpones execution of court decision that allowed payment of $ 350 mln to Surkis brothers

Source : 112 Ukraine

The brothers are Ukrainian oligarchs; they sued Privatbank for this sum, and Pechersk district court allowed forced execution of the decision. The government claimed it would file an appeal against the Pechersk court decision
14:41, 9 September 2020

Open source

The Supreme Court of Ukraine postponed the execution of the court decision within the case of the lawsuit of foreign companies to Privatbank. The press office of the Supreme Court reported that on September 9.

This move means that the execution of the decision of the Pechersk district court will be postponed, and Privatbank, for now, will not pay 350 million dollars in favor of the Surkis brothers, the famous Ukrainian oligarchs who sued the bank.

"The panel of judges simultaneously granted the motion of Privatbank and postponed the execution of the judgment by Pechersk district court, which was left unchanged by the decision of Kyiv Appeal Court from June 10, 2020, until the cassation process within this case is over", reads the message.

Granting the motion, the Supreme Court recognized that there are reasons for possible risks for the applicant until the cassation court makes the decision within this case. Besides, there could be difficulties with the reversal of the court decision in case of canceling by the Supreme Court.

Related: British court declines lawsuit of ex-Privatbank owners

On September 2, the Pechersk district court made the decision, which set the order of forced execution of the decision to provide the controversial bill filed by the companies owned by Surkis brothers to Privatbank. The decision stipulates servicing of the deposits that were converted in the bank's assets during the nationalization procedure. The servicing actually resulted in the attempt to charge USD 350,000,000 from the bank.

The Ukrainian government and the Prime Minister claimed that the Pechersk district court made the decision with violation of norms of procedural law. The Finance Ministry stated it would file an appeal against the Pechersk court decision.

Related: PrivatBank says its former owners laundered nearly $ 800 million in US

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