The Economic Court of Kyiv has confirmed the impossibility of returning the state PrivatBank to its former owners.
This is stated in the NBU message, Ukrainian News Agency reports.
Thus, by the decision of the Commercial Court of the city of Kyiv of November 27, 2023, the proceedings on invalidating the contracts for the sale of PrivatBank, as a result of which the state acquired 100% of the bank's shares in December 2016, and the obligation to return the shares of the bank to the former shareholder.
The case was opened at the lawsuit of former PrivatBank shareholder Hennadii Boholiubov against the NBU, the Cabinet of Ministers, the Ministry of Finance, PrivatBank, the Deposit Guarantee Fund.
He tried to return the shares of PrivatBank in court and to challenge the contract of purchase and sale of shares of insolvent PrivatBank, as a result of which the state acquired 100% of the shares of the bank and spent more than UAH 155 billion on its recapitalization.
According to Viktor Hryhorchuk, Head of the Claim and Litigation Office of the Legal Department of the National Bank of Ukraine, the court closed the proceedings on the basis of the norms of the Law of Ukraine "On Amending Certain Legislative Acts of Ukraine on Improving the Mechanisms for Regulating Banking Activity" No. 590-ІХ.
Indeed, in accordance with this law, proceedings with such claims are subject to closure.
The plaintiff formed such claims, the result of which is the return of shares of the bank to him, but the law expressly prohibits this, which the court stated.
Viktor Hryhorchuk also recalled that in accordance with Article 41 of the Law of Ukraine "On the System of Guaranteeing Deposits of Individuals" after concluding an agreement on the purchase and sale of shares of an insolvent bank and their transfer to an investor, the state as an investor cannot be deprived of ownership of the shares of the bank acquired by it and such shares cannot be sought in favor of the previous owner.
As Ukrainian News Agency earlier reported, the Grand Chamber of the Supreme Court on February 15, 2023 upheld the ruling of the Commercial Court of the city of Kyiv of June 2, 2021, which closed the proceedings in the case on the claim of the former chairman of the board and minority shareholder of PrivatBank Oleksandr Dubilet on invalidating the contracts of purchase and sale of PrivatBank.
This decision not only put an end to this case, but also allows resolving more than 40 disputes initiated by other persons related to PrivatBank and will make it impossible to return shares of the state bank to the former owners.
The Cabinet of Ministers of Ukraine decided to enter the state into the capital of PrivatBank on December 18, 2016.
The transition of PrivatBank to state ownership took place in accordance with Article 411 of the Law of Ukraine "On the system of guaranteeing deposits of individuals." This decision made it possible to avoid systemic risks for the banking sector and became the key to maintaining financial stability in the country.
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