The Supreme Court has opened appellate proceedings on appeals by VTB Bank (Kyiv) and one individual against the decisions of the Kyiv Court of Appeals of September 5 and September 25 regarding the recovery of $140 million from the Russian Federation under the decision of the Permanent Court of Arbitration of The Hague on the lawsuit of the former head of PrivatBank.

According to the court rulings register, the Supreme Court issued a relevant decision on October 1.

As reported, the Kyiv Court of Appeals on September 25 recognized and permitted to implement the decision of the Permanent Court of Arbitration in The Hague dated May 2, 2018 to recover compensation for the property of the ex-head of PrivatBank and 17 other companies in Crimea and ruled to issue the appropriate writs in favor of the plaintiffs.

According to the report, the execution writs should be issued to the plaintiffs for about $130.5 million compensation for real estate, $9.2 million compensation for the costs of the trial, as well as interest on the specified amounts at a rate of 12-month LIBOR plus 1% of compound interest annually.