The Commercial Court of Cassation as part of the Supreme Court put an end to the efforts of the former owners of PrivatBank to contest the application of the "anti-Kolomoiskyi law" and the nationalization of the bank, the press service of PrivatBank reported.
The court upheld the cassation appeals and overturned the decision of the court of appeals in the case brought by the company Birgminton Investing Inc, related to the former owners of the bank.
The company tried to challenge the share purchase agreement signed in the process of nationalization of PrivatBank, according to which the plaintiff purchased the bankʼs shares in the bail-in procedure and later sold his shares to the state for 1 hryvnia.
As in other cases related to the nationalization of PrivatBank, the key issue was the application of the "anti-Kolomoi" law No. 590-IX on the improvement of banking regulation mechanisms, according to which court proceedings in cases brought by claims of former bank shareholders are subject to closure.
PrivatBank claims that during the meeting, the plaintiff did everything he could to prevent the decision in favor of the bank, in particular, six groundless motions were filed on his part and the panel of judges was dismissed.
"Such a decision of the Supreme Court is another step towards the final resolution of all disputes regarding the impossibility of returning PrivatBank, which was nationalized in 2016, to its former owners," the message reads.
- The largest commercial bank in Ukraine PrivatBank was nationalized on December 19, 2016. Ukraine recapitalized the bank by UAH 155 billion. Previously, it belonged to businessmen Ihor Kolomoiskyi and Hennadii Boholyubov. In December 2017, PrivatBank sued its former owners. The plaintiffs claim that the businessmen withdrew approximately $2 billion from the bank by conducting a series of illegal transactions. The former owners, for their part, deny its nationalization.