This week, PrivatBank will defend almost 1 billion in court.
This week, state-owned PrivatBank will defend its property interests in court against the bank's former owners and top management. The dispute is worth UAH 920 million.
This was announced by PrivatBank press secretary Oleg Serga.
"PrivatBank continues to fight for justice in its dispute with the bank's former owners and top management, which amounts to precisely 920 million hryvnias. This is the potential cost to the Ukrainian state and its citizens of the legal cases in which PrivatBank will insist on the rule of law this week," the statement reads.
The latest court hearing in the Dnipro Court of Appeal in the long-running case regarding O. Bogolyubova's designation as a person associated with the bank during its nationalization in late 2016 could cost Ukraine over UAH 670 million. Following the rulings of the trial and appellate courts, the case was remanded for a new trial by the Cassation Civil Court of the Supreme Court. The hearing will take place on July 27.
The second case will also be heard on July 27, but in the Supreme Court. There, PrivatBank will continue to prove its legal ownership of the 86 million UAH office space in Dnipro, which is being sued by Aboud Finance LLC, which is in contact with the bank's former owners and top management.
The third case, on July 27, is a continuation of the bank's standoff with former top management over the Okeanmash company's head office building in Dnipro, valued at over UAH 152 million.
As the Prosecutor General's Office established during the pre-trial investigation in 2017, the former management of PrivatBank, while obtaining refinancing loans from the National Bank of Ukraine, simultaneously provided loans to related companies on non-market terms that were inherently unfavorable for the bank. NP Okeanmash LLC acted as a guarantor for the loans of these related entities.
As reported, on December 18, 2016, the Ukrainian government, citing a proposal from the National Bank and former PrivatBank shareholders (the largest being businessmen Ihor Kolomoisky and Gennadiy Bogolyubov), decided to nationalize the largest bank in the Ukrainian market. To save it, the state recapitalized it by more than UAH 155 billion. The former owners subsequently declared the nationalization illegal, leading to ongoing legal disputes in Ukraine and international jurisdictions.
Skelet.Org
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