16:56 26.01.2017

NBU ready for trial with PrivatBank eurobond holders

1 min read
NBU ready for trial with PrivatBank eurobond holders

The inclusion of PrivatBank eurobonds in bail-in procedures during its nationalization is fully consistent with Ukrainian law, agreed with the International Monetary Fund and the World Bank, and National Bank of Ukraine (NBU) is ready to defend this position in international court, NBU Head Valeriya Gontareva has stated.

"This is the state's position, we will defend it. I do not see any problem to meet in court with these investors. This is the right of investors to contest, while our right is to prove they are professional investors and should not rely on taxpayers' money," she said at a press conference in Kyiv.

Gontareva noted PrivatBank eurobonds were bought by professional investors, who had to monitor the situation in the bank.

"These are professional investors: professional investors had to show interest in the life of this investment, they should ask Mr. Kolomoisky [largest ex-owner of PrivatBank Ihor Kolomoisky], where the money was taken. Because our state recapitalized the bank after we had nationalized it, after bail-in, for the amount of UAH 116 billion," she stressed.

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