The High Court of Justice in London has recognized the claim of PrivatBank (Kyiv) against ex-owners Ihor Kolomoisky and Hennadiy Boholiubov, as well as the companies related to them, inconsistent with its jurisdiction.

According to a press release of the plaintiff, the court made the decision at a meeting on November 23.

"Despite the fact that the judge recognized the bank as a victim of large-scale fraud ... he concluded that an English court does not have jurisdiction to consider the bank's claim against its ex-owners," the document states.

At the same time, it notes that this court ruling is only the first stage of the process and PrivatBank received permission to appeal it.

"The judge concluded that the evidence mainly points to carefully planned fraudulent activities and money laundering in especially large amounts. The defendants admit that the bank has a reasonably sound case for considering for more than one hundred million U.S. dollars and that the supply contracts appealed by PrivatBank are imaginary, used as a cover to justify leaking huge amounts of funds from the bank," the press release reads.

It clarifies that the matter concerns the fraud in the amount of $329 million to $1.2 billion.

Accordingly, the court upheld the decision made in December 2017 on the worldwide seizure of the assets of Kolomoisky and Boholiubov and six related companies for more than $2.5 billion.