The Northern Commercial Court of Appeal in Kyiv confirmed the impossibility of returning state-owned Privatbank to its former owners, closing the proceedings on the claim filed by former Privatbank shareholders Ihor Kolomoyskyy and Cyprus-based Triantal Investments Ltd. The bank's press service reports.
Thus, the court confirmed the legitimacy of the actions of the court of first instance to close the proceedings on the basis of Law 590-IX ‘On the Deposit Guarantee System’.
‘Privatbank welcomes the fair court decision. Today the court closed the proceedings in the case brought by I. Kolomoyskyy and Triantal. In this case, the plaintiffs challenged the sale and purchase agreement for Privatbank shares concluded in the course of the nationalisation process and demanded to regain ownership of Privatbank shares. The court applied the provisions of the Law of Ukraine ‘On the Deposit Guarantee System’, which clearly indicate that the bank's shares cannot be returned to the former owners after the sale to the investor, and, in accordance with Law 590-IX, closed the proceedings,’ said Privatbank's lawyer Viktor Tarasenkov.
As reported, on 27 November 2023, the Kyiv Commercial Court closed proceedings in a similar case brought by another former owner of the bank, Hennadiy Boholyubov. Earlier, on 15 November 2023, the Sixth Administrative Court of Appeal in a case brought by I. Kolomoyskyy confirmed the impossibility of cancelling decisions and agreements made in the process of nationalising Privatbank.