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Economy 2019-08-15T04:13:54+03:00
Ukrainian news
Court Declares Illegal Nationalization Of PrivatBank Under Kolomoiskyi’s Appeal

Court Declares Illegal Nationalization Of PrivatBank Under Kolomoiskyi’s Appeal

The District Administrative Court of Kyiv has declared unlawful the nationalization of one of the largest Ukrainian banks, PrivatBank, under respective appeal of its former co-owner, Ihor Kolomoiskyi.

This follows from the press service of the court.

"Having heard the case under respective appeal from Ihor Kolomoiskyi against the National Bank of Ukraine, Cabinet of Ministers of Ukraine, Deposit Guarantee Fund (DGF), and the National Commission for Securities and Stock Market, the District Administrative Court of Kyiv declared unlawful the decisions of defendants following which PrivatBank was nationalized; and declared void the agreement on purchase and sale of the bank’s shares by the state,” the statement says.

The court says that the grounds for the said ruling are, inter alia, absence of evidence from the defendants for presence of legal grounds to put PrivatBank on the list of insolvent banks which later became the reason for its nationalization; as well as the procedure of nationalization itself.

The case had been investigated since July 2017.

Press service of the NBU has confirmed the information about the said ruling.

"On April 18, 2019, the District Administrative Court of Kyiv following the appeal of the former co-owner of PrivatBank, Ihor Kolomoiskyi, ruled that the procedure of withdrawal of insolvent bank PrivatBank from the market violated the terms of the effective law," the press service said.

As Ukrainian News Agency earlier reported, on December 18, 2016, the Cabinet of Ministers decided to nationalize PrivatBank.

Больше новостей о: PrivatBank PrivatBank nationalisation Ihor Kolomoiskyi

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