2020-09-09T18:14:00+03:00 Economy 2024-09-15T09:27:20+03:00

Ukrainian news

Supreme Court Suspends Enforcement Of Ruling That Ordered PrivatBank To Pay Surkis Companies USD 350 Million

Supreme Court Suspends Enforcement Of Ruling That Ordered PrivatBank To Pay Surkis Companies USD 350 Million

The Supreme Court has suspended the enforcement of a court ruling that ordered PrivatBank to pay USD 350 million to companies owned by the Surkis brothers.

The Supreme Court announced this in a statement in response to an information request from the Ukrainian News Agency.

"The Supreme Court opened proceedings in an appeal filed by the Cabinet of Ministers on September 8 and granted PrivatBank’s petition in relation to the court decisions in the case involving the Surkis brothers’ deposits with PrivatBank," the statement said.

According to the statement, a panel of judges granted PrivatBank’s petition to suspend the enforcement of the Pecherskyi District Court of Kyiv’s decision dated 9 February 2017, which was upheld by the Kyiv Court of Appeal’s decision dated 10 June 2020, pending completion of the appeal process.

As Ukrainian News Agency earlier reported, the Pecherskyi District Court of Kyiv has ruled in favor of offshore companies belonging to the Surkis brothers in a lawsuit to recover USD 350 million from PrivatBank.

On August 10, PrivatBank petitioned the Pecherskyi District Court of Kyiv to remove Judge Serhii Vovk from the case filed by the Surkis brothers’ offshore companies.