14:15 12.11.2019

Supreme Court lifts ban on forced sale of Prominvestbank shares

1 min read
Supreme Court lifts ban on forced sale of Prominvestbank shares

The Supreme Court has upheld the decision of the Kyiv Court of Appeals of August 27, 2019, rejecting the cassation appeals of VEB.RF state corporation and Prominvestbank (PIB, Kyiv) regarding the lifting of the ban of the State Executive Service to sell 99.77% of the bank's shares.

The relevant decision of November 6 was published in the Single Court Rulings Register on November 7.

"To dismiss the cassation complaints of VEB.RF and PJSC Prominvestbank. To leave the decision of the Kyiv Court of Appeals dated August 27, 2019 unchanged. To renew the decision of the Kyiv Court of Appeals of August 27, 2019," the report says.

As reported, on August 27, 2019 the Kyiv Court of Appeals granted the request of the state executive and a group of companies related to businessman Ihor Kolomoisky and his partners, and closed the proceedings on VEB's complaint about the actions of the state executive as part of enforcement proceedings to sign an agreement on the sale of 99.77% of PIB's shares on the PFTS Stock Exchange.

Prominvestbank on September 17, 2019 initiated criminal proceedings to stop the forced sale of 99.77% of its shares on the stock exchange.

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