15:55 15.11.2017

Court dismisses Yanukovych's son lawsuit against NBU to recover UAH 1.6 bln in damages

1 min read
Court dismisses Yanukovych's son lawsuit against NBU to recover UAH 1.6 bln in damages

The Pechersky District Court of Kyiv has rejected Oleksandr Yanukovych's lawsuits against the National Bank of Ukraine (NBU) to recover UAH 1.6 billion in damages.

The court issued the relevant ruling on November 14, 2017, the National Bank said in a press release.

"As follows from the case materials, Yanukovych in August 2017 filed a complaint against the NBU claiming payment of damages to him in connection with the withdrawal from the market of the PJSC All-Ukrainian Development Bank, whose shareholder he was. Having considered the case, the court concluded there are no grounds for granting the claim," the document says.

The All-Ukrainian Development Bank was registered in 2009, it is included in the MACO Group. The bank belonged to Oleksandr Yanukovych. After the EU Council applied sanctions against Oleksandr Yanukovych, in particular froze his assets, the NBU decided in November 2014 to classify the All-Ukrainian Development Bank as a troubled asset.

The Higher Administrative Court of Ukraine in January 2016 confirmed the legitimacy of the NBU's decision.

As of January 1, 2015, the Bank ranked 36th in terms of the size of assets (UAH 5.635 billion) among 158 banks.

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