Kolomoiskyi and Boholiubov must pay PrivatBank over USD 3 billion in 5 days

According to a decision made by the High Court of England, former owners of PrivatBank Ihor Kolomoiskyi and Hennadii Boholiubov must pay PrivatBank over USD 3 billion by November 24 of this year.

The bank previously reported this, Ukrainian News Agency reports.

The principal amount of damages to be paid to PrivatBank was determined by the court at USD 1,761,957,792.

The court also ordered Mr. Kolomoiskyi and Mr. Boholiubov to pay interest in the amount of USD 1,190,083,824 and to make an advance payment to cover PrivatBank's expenses in the amount of GBP 76,400,000 (USD 99,575,371).

Kolomoiskyi and Boholiubov applied to the court for permission to appeal the decision and to stay its execution pending the consideration of such an appeal.

However, both motions were rejected by the court.

Thus, all of the above amounts must be paid by November 24, 2025, and in case of failure to pay by this date, interest will be accrued on them in the future.

If these amounts are not paid voluntarily, PrivatBank will immediately begin the collection process and seek compulsory execution of the court decision at the expense of the assets of the former owners in order to obtain compensation for the Bank and, accordingly, for its shareholder - the Government of Ukraine.

As Ukrainian News Agency earlier reported, on October 15, 2019, the state-owned PrivatBank won a victory in the London Court of Appeal in a dispute with its former owners, Ihor Kolomoiskyi and Hennadii Boholiubov.

The Cabinet of Ministers of Ukraine adopted a decision on the state's participation in the capital of PrivatBank on December 18, 2016.

The transfer of PrivatBank to the state took place in accordance with Article 411 of the Law of Ukraine "On the Deposit Guarantee System of Individuals".

This decision helped to avoid systemic risks for the banking sector and became a guarantee of maintaining financial stability in the country.

The state spent more than UAH 155 billion on the recapitalization of PrivatBank.