The National Bank of Ukraine (NBU) on June 14, 2019 filed a counterclaim against the rulings of courts that annulled the NBU's resolution to inspect PrivatBank before the removal of the bank from the market with the participation of the state with the Cassation Administrative Court of the Supreme Court of Ukraine, the NBU has said on its website.

According to the release, together with the cassation appeal, the National Bank filed a petition to suspend the validity of these court rulings until the end of their cassation hearing by the Supreme Court.

The NBU, in its statement, relies on its exclusive powers, enshrined in the law on the National Bank: no other entity or body, including the court, can interfere in exercising powers of authority of the National Bank, in particular, determining the date and grounds for conducting an unscheduled inspection of banks.

The National Bank also said that the plaintiff company Triantal Investments Ltd was not authorized to represent PrivatBank and its rights were not violated by the National Bank.

"Only a shareholder of the bank owning a controlling stake (over 50% of shares) can apply for judicial protection of the violated rights of the bank. While the plaintiff, Triantal Investments Ltd, prior to nationalization of PrivatBank, owned 16.817% of its shares," the NBU said.

The NBU recalled that the results of the stress tests of PrivatBank in 2015 showed a significant deterioration in its financial condition and served as the basis for conducting the unscheduled inspection.

The National Bank considers the decision of the courts of lower instances illegal, unreasonable and issued with incomplete investigation of all the circumstances of the case.

As reported, on May 13, 2019, the sixth administrative court of appeals rejected the appeal of the National Bank against the ruling of the district administrative court of Kyiv dated March 2, 2018, which satisfied the claim of Triantal Investments Ltd.