The Cassation Economic Court of the Supreme Court has confirmed the impossibility of returning the state-owned PrivatBank to its former owners and confirmed the legality of closing the proceedings in case No. 910/1834/19 at the claim of the bank's ex-shareholder I. Kolomoiskyi and the company Triantal Investments LTD.
The bank has said this in a statement, the Ukrainian News agency reports.
Thus, the court protected the interests of the state as an investor, which prevented the collapse of the financial system by recapitalizing PrivatBank.
The consideration of this case in courts of various instances lasted almost five years.
In this case, the plaintiffs, I. Kolomoiskyi, who owned 41.6572% of the bank's shares before the nationalization of PrivatBank, and the company Triantal, registered in Cyprus and associated with the former owners, which owned 16.8176%, tried to challenge the agreement on the purchase of the bank's shares by the state and return the bank's shares to itself.
As the Ukrainian News agency earlier reported, on September 10, 2024, the Northern Appeals Economic Court confirmed the legality of the decision of the court of first instance to close the proceedings in the case on the basis of Law No. 590-IX "On Amendments to Certain Legislative Acts of Ukraine on Improving the Mechanisms for Regulating Banking Activities"
100% of PrivatBank is owned by the state represented by the Ministry of Finance.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.