MainMain

Court rejects Sberbank's 1.5bn-hryvnya lawsuit

The money was borrowed by Donetsk railways.

Court rejects Sberbank's 1.5bn-hryvnya lawsuit

Kyiv's Economic Court has dismissed Sberbank's lawsuit to recover nearly 1.5bn hryvnyas [55.7m dollars] from the national railway company Ukrzaliznytsya.

The prosecutor's office of Kyiv said that Sberbank demanded the repayment of a debt under a 2011 loan agreement concluded between the bank and the state enterprise Donetsk railways that is now in the process of liquidation.

The prosecutor's office of Kyiv found the bank's arguments groundless and requested the dismissal of the claim.

The prosecutor's office does not specify the date of the ruling, but the Unified Register of Court Decisions says that the hearing on the case was held on 13 March.

Sberbank (previously PJSC Subsidiary Bank of Sberbank of Russia, and before that – NRB Bank) was founded in 2001 and is fully owned by Sberbank of Russia.

According to the National Bank of Ukraine, as of 1 January, it ranked sixth among 93 banks operating in the country, with its assets reaching 48.356bn hryvnyas.