Kolomoisky offers amicable agreement for PrivatBank in exchange to around 25% of shares in bank

Ukrainian businessman Ihor Kolomoisky has proposed to sign an amicable agreement for PrivatBank (Kyiv) in exchange of around 25% of shares in the bank.

The way out with PrivatBank is to return me my capital, not par, but shares. Return the shares! Count me my UAH 50-60 billion, give me some shares. It will be 24%, or 25.5% or 26%," Kolomoisky said in an interview with the Ukrayinska Pravda, noting that about 75% would remain in state ownership under such a scenario.

When asked whether Kolomoisky wanted to reclaim the bank itself, or the funds invested in the financial institution, he voiced different versions. As an option, the businessman is considering returning him the charter capital by the state.

In his opinion, the court should prove that the share capital existed. To this end, a government commission or independent auditors may be appointed, who must determine that the bank had capital "which was multiplied by zero or even made negative."

Kolomoisky said that the National Bank then "changed the rules of accounting or capital accounting, requirements" so that its capital became negative.

"Thus, they said that there are UAH 170 billion loans there that did not have collateral. There is no collateral, so you have negative capital," he said.

According to Kolomoisky, on the basis of this, the bank was nationalized.

"However, the basis is the issue of verification of their report on its insolvency," the Ukrainian businessman said.