17:55 20.05.2019

Govt contests abolition of PrivatBank nationalization

1 min read
Govt contests abolition of PrivatBank nationalization

The Cabinet of Ministers of Ukraine on May 16, 2019 filed an appeal against the decision of Kyiv's District Administrative Court to abolish the nationalization of PrivatBank, according to the register of appeals.

As reported, the District Administrative Court of Kyiv on April 18, 2019 canceled the decision on the nationalization of PrivatBank, as well as the decision of the National Bank of Ukraine (NBU) on the list of persons related to the financial institution.

As reported, Ukraine's government, at the recommendation of the National Bank of Ukraine (NBU) and former shareholders of PrivatBank, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, on December 18, 2016 decided to nationalize PrivatBank, the largest Ukrainian financial institution at the time. The ex-owners of the bank consider the nationalization, as a result of which they had completely lost their shares, to be illegal, whereas PrivatBank and the state demand additional compensation from them for damage. At present, the parties are engaged in litigation both in Ukraine and in foreign jurisdictions.

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