25 August 2021, Wednesday, 13:45 184

Delaware Court Of Chancery Declines PrivatBank Ex-Owners’ Appeal On Termination Of Consideration Of Case Under Bank’s Appeal In United States

Редактор: Daria Zubkova

The Delaware Court of Chancery has declined an appeal of former PrivatBank owners demanding termination of consideration of the case under an appeal of the bank in the United States.

That follows from a statement by the bank, Ukrainian News Agency reports.

On August 23, 2021, the court (Judge Slights) declined the appeal.

According to the decision, the Delaware Chancery Court will continue to consider case 2019-0377-JRS in the civil claim of JSC PrivatBank against Ihor Kolomoiskyi, Hennadii Boholiubov and other legal entities and individuals for, among other things, recovering losses caused by the bank's defendants prior to its nationalization in December 2016.

The court also granted PrivatBank's petition and issued an order on the preservation of assets (status quo order), which imposed a ban on any actions outside the ordinary business with various assets of the defendants in the United States.

According to the court, this order is "a guarantee that the plaintiff will be provided with adequate security for claims in the amount of more than USD 600 million, which they are seeking reimbursement in the framework of this proceeding."

At the same time, the court granted the defendants' motion and suspended the proceedings on a separate part until the related legal proceedings in Ukraine were resolved on the merits.

As Ukrainian News Agency earlier reported, last year, the U.S. Department of Justice accused former owners of PrivatBank, Ihor Kolomoiskyi and Hennadii Boholiubov, of laundering the bank's funds.

In December 2016, the Cabinet of Ministers, at the suggestion of the National Bank and PrivatBank shareholders, decided to nationalize the financial institution.

The state, represented by the Ministry of Finance, received 100% in the capital of PrivatBank.

Больше новостей о: USA PrivatBank appeal Delaware Court of Chancery