Politics 2022-07-15T07:47:15+03:00
Ukrainian news
Court Unblocks Forensic Audit Of PrivatBank

Court Unblocks Forensic Audit Of PrivatBank

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court, PrivatBank, forensic audit

On January 3, the Solomiyanskyi District Court of Kyiv unblocked conducting a forensic audit of PrivatBank.

The Ukrainian News Agency learnt this from the court's ruling.

In particular, on December 14, the court started a proceeding brought by a lawsuit from Ihor Kolomoyskyi (former PrivatBank owner) to the National Bank of Ukraine, PrivatBank, Ministry of Finance, Kroll Associates U.K. LLP, AlixPartners Services UK LLP, Hogan Lovells International LLP, Asters Consult, Asters and AlixPartners seeking to override and rescind agreements with the above entities.

The aforesaid companies have been hired or otherwise involved in the conducting of a forensic audit at PrivatBank, which the International Monetary Fund had mandated to be completed before September of 2017.

On December 15, the court upheld claims from Kolomoyskyi about injunctive relief and forbade PrivatBank, legal consultants, advisors or any other entities and individuals who, acting on behalf of the National Bank and the Ministry of Finance, provide services to PrivatBank, from carrying out any agreements or contracts that could directly or indirectly interfere with the rights or interests of Kolomoyskyi.

But on January 3, 2018, the court ruled in favor of Asters firm and quashed its earlier decision about the restrictions.

In particular, the press service of the National Bank said that "the court in its latest ruling removed obstacles created by its previous judgment for conducing lawful legal work on upholding the state's decision about the state capital taking over PrivatBank and conducting a forensic audit of the bank's activities."

As Ukrainian News Agency earlier reported, in December 2017, Deputy Chairperson of the National Bank of Ukraine Kateryna Rozhkova said at a press conference that legal actions brought by Kolomoyskyi and his partners were "signs of weakness and fear that results of the forensic audit conducted by the Kroll and AlexPartners investigative firms will turn out very detrimental to former stockholders of the bank."

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