The Grand Chamber of the Supreme Court on Wednesday, February 15, passed a decision that makes it impossible to return the PrivatBank nationalized in 2016 to its former owners.
This is stated in the message of the bank, Ukrainian News Agency reports.
Having heard the positions of the parties in the case on the claim of the former chairman of the board of PrivatBank Oleksandr Dubilet, who for years tried through the courts to regain the shares of the state bank, the Supreme Court granted the cassation complaints of PrivatBank and the Cabinet of Ministers.
It is noted that the Grand Chamber of the Supreme Court for the first time applied the norms of the so-called "anti-Kolomoiskyi law" No. 590, the adoption of which was one of the priority steps for approval by the International Monetary Fund of the financing program for Ukraine.
As Ukrainian News Agency earlier reported, on May 13, 2020, the Verkhovna Rada adopted law No. 590, aimed at eliminating gaps in legislation that previously allowed courts to resuscitate banks withdrawn from the market due to insolvency.
Besides, this law finally fixed the prevention of the return of nationalized banks to its former owners.
Also, the above law clearly defines the prerequisites and procedure for obtaining compensation by former owners of banks withdrawn from the market and their form.
In particular, the only way to protect the rights of former shareholders of the bank is to compensate for damages in monetary form.
All other court proceedings, including those related to the demand of shares, invalidation of contracts concluded in the procedure of withdrawal of the bank from the market with the participation of the state, in accordance with the requirements of this law are subject to closure.
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