News

Mikhail Friedman and partners filed a lawsuit against Ukraine for a billion dollars due to the nationalization of Sense Bank

Author:
Oleksandra Amru
Date:

Getty Images / «Babel'»

Luxembourg-based ABH Holdings SA, owned by sanctioned Russian oligarchs Mikhail Friedman and Petr Aven, has filed a lawsuit against Ukraine for more than a billion dollars over the nationalization of Sense Bank.

This is stated in the statement of ABH Holdings SA

On December 29, the holding submitted a request for arbitration and a statement of claim against Ukraine to the International Center for Settlement of Investment Disputes (ICSID), which is part of the World Bank group.

In the lawsuit, the holding refers to the Agreement between the Belgian-Luxembourg Economic Union and the Government of Ukraine on mutual assistance and protection of investments.

ABH Holdings SA calls Ukraineʼs actions on the nationalization of Sense Bank arbitrary, disproportionate, unfounded and discriminatory.

"Combining the methods of corporate raiding and military profiteering, the Ukrainian authorities illegally took the bank from its legitimate owners, beneficiaries and shareholders," the statement reads.

ABH Holdings calls the accusations of the Ukrainian authorities against Friedman and partners "black PR", with the help of which Ukraine took the bank "from its rightful owners".