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Kolomoiskyi appeals against nationalization of Privatbank
On August 30, the Kyiv court will consider the case on the claim of Ihor Kolomoiskyi and his related company Triantal Investments against Privatbank. With this lawsuit, the former owner is trying to reclaim Privatbank, the rescue of which in 2016 from the financial collapse caused by the actions of the former owners cost the […]
Monday, 29 August 2022, 15:14

On August 30, the Kyiv court will consider the case on the claim of Ihor Kolomoiskyi and his related company Triantal Investments against Privatbank.

With this lawsuit, the former owner is trying to reclaim Privatbank, the rescue of which in 2016 from the financial collapse caused by the actions of the former owners cost the state more than 155 billion hryvnias.

Privatbank press service notes that at a time when the war became a challenge, particularly in the economy, Kolomoiskyi’s attempts to return the bank are a manifestation of ‘impudent looting on the financial front of Ukraine’.

This case is one of the main legal proceedings initiated by Kolomoiskyi with the aim of restoring his ownership of Privatbank shares.

For this reason, the plaintiffs demand to invalidate the 2016 Privatbank share purchase agreement and claim the shares from the state in their favor.

Tomorrow’s court hearing will be the first in a year and a half. Since April 2021, Kolomoisky’s side has taken actions aimed at delaying the case.

Privatbank, in turn, insists that Ihor Kolomoiskyi and Triantal Investments have no right to demand the return of the bank’s shares from the state and to demand recognition of ownership of the bank’s shares. In particular, Privatbank believes that the court is obliged to apply the norms of the law, which directly prohibit the return of banks withdrawn from the market to their former owners/shareholders.

‘Bukvy’ checked the information and noted that the content of some of the court decisions in this case is not available. In particular, the last of them, delivered by judge L. Shkurdova, is closed from public access on the basis of paragraph 4 of part 1 of article 7 of the Law of Ukraine ‘On access to court decisions’. This means that, at least partially, the case is being considered behind closed doors.

Tags: Ihor Kolomoyskyi, lawsuit, oligarch, PrivatBank