PrivatBank has received notification that the UK Supreme Court has refused its former owners, Ihor Kolomoisky and Hennadiy Bogolyubov, permission to appeal an English court decision ordering the payment of more than $3bn.
This is stated in a PrivatBank press release.
In July 2025, the High Court of England found that Kolomoisky and Bogolyubov had committed large-scale fraud against the bank. The court ordered them to compensate for the losses caused in an amount exceeding $3bn.
The former owners sought to challenge the decision in the Court of Appeal of England, claiming in particular that they had allegedly returned to the bank the funds unlawfully misappropriated. However, on 22 May 2026 the court dismissed their appeals.
After that, Kolomoisky and Bogolyubov applied to the UK Supreme Court to obtain permission for a further appeal. The court refused their applications.
PrivatBank noted that these rulings bring the appeal process to an end. As a result, the English court’s decision to recover more than $3bn, including damages, interest and legal costs, can now be enforced in any jurisdiction.
The bank welcomed the Supreme Court’s decision and said it would continue work to enforce the judgment.
- PrivatBank is Ukraine’s largest bank; it was nationalised at the end of 2016. The institution’s total assets, according to the National Bank of Ukraine, stood at UAH 979.31bn as of 1 August 2026.
- In 2025, PrivatBank won a case in a London court against former shareholders Ihor Kolomoisky and Hennadiy Bogolyubov.