Kolomoiskyi finally lost the court on challenging the nationalization of PrivatBank
- Author:
- Olha Bereziuk
- Date:
Getty Images / «Babel'»
The Commercial Court of Cassation as part of the Supreme Court confirmed the impossibility of returning the state-owned PrivatBank to its former owners and confirmed the legality of closing the proceedings on the claim of the bankʼs executor Ihor Kolomoiskyi and Triantal Investments LTD.
This was reported by the bankʼs press service.
"In this way, the court protected the interests of the state as an investor, which prevented the collapse of the financial system due to the recapitalization of PrivatBank. Consideration of this case in courts of various instances lasted for almost five years," the message reads.
In this case, the plaintiffs, Kolomoiskyi and Triantal, a company registered in Cyprus, tried to challenge the agreement for the purchase of the bankʼs shares by the state and get back the bankʼs shares.
PrivatBank welcomed the courtʼs decision, noting that the case of Kolomoiskyi and the Triantal company carried significant risks for the stateʼs financial system.
"The case was closed in accordance with the prescriptions of the current legislation of Ukraine regarding the impossibility of returning the bankʼs shares to the former owners," a member of the PrivatBank Board of Reorganization and Troubled Assets Solvita Dehlaya noted.
- PrivatBank was nationalized on December 21, 2016 — the Ministry of Finance bought 100% of the bankʼs shares for UAH 1. According to NBU, as of December 21, Ihor Kolomoiskyi directly owned 41.6% of the bankʼs shares, another 16.5% — indirectly through the company Triantal Investments LTD. Hennadiy Boholyubov directly and indirectly owned 41.5% of the bankʼs shares. The chairman of the board Oleksandr Dubilet owned 2.7% of the bankʼs shares. Kolomoiskyi and Boholyubov appealed this decision.
- On September 10, 2024, the Northern Commercial Court of Appeal of the city of Kyiv confirmed the impossibility of returning the state-owned PrivatBank to Kolomoiskyi.
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