16:40 21.11.2017

Higher administrative court confirms absence of grounds for declaring FC Dynamo affiliated with PrivatBank

Higher administrative court confirms absence of grounds for declaring FC Dynamo affiliated with PrivatBank

The higher administrative court of Ukraine has upheld the ruling of the district administrative court of Kyiv dated March 20, 2017 and the ruling of Kyiv's administrative court of appeals dated June 27, 2017 about the unlawfulness of declaring FC Dynamo Kyiv LLC an entity affiliated with PrivatBank (both based in Kyiv) and the further ban on transactions with the club's accounts in the financial institution.

According to the unified register of court rulings, the ruling was issued on November 16, 2017.

The ruling takes effect from the moment of its publication and be reviewed by the Supreme Court of Ukraine.

As reported, Kyiv's administrative court of appeals on June 27, 2017 did not satisfy a counterclaim of the National Bank of Ukraine (NBU), the Individuals' Deposit Guarantee Fund and PrivatBank against rulings of Kyiv's district administrative court which named unlawful declaring Dynamo FC (Kyiv) an affiliated structure with the bank and blocking its accounts.

FC Dynamo on June 21 said that PrivatBank has stopped providing the club with tranches on the credit line, which is the main source of its financing, over the position of the NBU particularly, the position of Deputy NBU Governor Kateryna Rozhkova.

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