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Supreme Court Allows Retrieving PrivatBank’s Property In Favor Of Former Owners - Bank’s Press Service

The Supreme Court has allowed retrieving the property (Mir hotel in Kyiv) of the state PrivatBank in favor of the former owners.

This is stated in the message of the bank on the Telegram channel, Ukrainian News Agency reports.

It is noted that on August 16, a meeting was held on the case of attempts by former owners to retrieve the Mir Hotel in Kyiv from the state PrivatBank.

"Despite violations of the law by lower courts, the Cassation Economic Court as part of the Supreme Court completed the raider scheme of former owners to deprive the state PrivatBank of ownership of a multimillion-dollar property in Kyiv," the statement said.

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Such a decision was made by the court consisting of the presiding judge Bulhakova I.V., and judges Lvov B.Yu. and Selivanenko V.P.

As Ukrainian News Agency earlier reported, during the nationalization of the bank in August 2016, due to the transfer of ownership of collateral property (Mir hotel, Kyiv, 70 Holosiivskyi Avenue) in PrivatBank CB JSC according to the mortgage agreement concluded with ARDENA LLC, part of the AEF LLC loan was repaid under the currency loan agreement of 2013 in the amount of almost USD 18 million.

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