The Economic Court of Cassation as part of the Supreme Court overturned the decision of the Court of Appeal on the suit of Birgminton Investing Inc, associated with the former owner of PrivatBank, and upheld the legality of the nationalization of the financial institution, upholding the decision of the first instance, PrivatBank reported.

"Today there was a victory of justice and the law in the Supreme Court. We believe that this will become an example in all such cases, and decisions will continue to be made solely on the principles of the rule of law. This is a common victory for PrivatBank and the Cabinet of Ministers, the Ministry of Finance, the Deposit Guarantee Fund," the bank said in a statement on the website.

It clarified that Birgminton Investing tried to appeal the share purchase and sale agreement concluded during the nationalization of PrivatBank, under which the plaintiff purchased the bank's shares in the bail-in procedure and subsequently sold them to the state for UAH 1.

It is indicated that, as in other cases related to the nationalization of PrivatBank, the key issue was the application of "anti-Kolomoisky" law No. 590-IX on improving the mechanisms for regulating banking activities, according to which court proceedings in cases on claims of former shareholders of the bank are subject to closure.

PrivatBank claims that during the session the plaintiff did everything possible to prevent the decision in favor of the bank, in particular, six groundless petitions were filed on his part and the panel of judges was challenged.

"All procedural diversions of the bank's opponents were rejected by the court," the financial institution said in the statement.

"Such a decision of the Supreme Court is another step towards the final resolution of all disputes about the impossibility of returning PrivatBank, nationalized in 2016, to its former owners," the bank's press service concluded.