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Politics 2019-05-26T04:01:48+03:00
Ukrainian news
NBU To Appeal Against Court's Ruling On Cancellation Of Regulator’s Order To Examine PrivatBank On Eve Of Its

NBU To Appeal Against Court's Ruling On Cancellation Of Regulator’s Order To Examine PrivatBank On Eve Of Its Nationalization

The National Bank of Ukraine intends to appeal against a court's ruling on cancellation of the central bank's order to hold an inspection at PrivatBank on the eve of its nationalization.

The NBU has said this in a statement, Ukrainian News Agency reports.

On May 13, 2019, the Sixth Appeal Administrative Court declined an appeal of the National Bank against the ruling of the District Administrative Court of Kyiv dated March 2, 2018, that satisfied the appeal of former stockholder of PrivatBank, Cypriot-based Triantal Investments Ltd.

According to the report, the NBU had grounds to hold the examination of PrivatBank in 2016 as the financial recovery program agreed with former stockholders and top-managers of the financial institution was not fulfilled which follows from a written address of the former stockholders sent to the NBU and proves the fact of their failure to fulfill the obligations they took.

The NBU will continue proving the legitimacy of its actions and notes that such court’s rulings are a threat to the stability in the country.

As Ukrainian News Agency earlier reported, on April 18, the District Administrative Court of Kyiv cancelled the nationalization of PrivatBank and also took a decision as for the procedure of nationalization of PrivatBank within the case 826/13813/17, which fully satisfied the appeal of Triantal Investments Ltd controlled by former co-owner of PrivatBank / businessman Ihor Kolomoiskyi.

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