11:12 26.10.2018

Court upholds PIB's claim about unlawfulness of arrest of bank's shares in 'Crimea' case initiated by ex-head of PrivatBank

2 min read
Court upholds PIB's claim about unlawfulness of arrest of bank's shares in 'Crimea' case initiated by ex-head of PrivatBank

The Kyiv Court of Appeals has upheld a claim of Prominvestbank (PIB, Kyiv) against actions of a private judicial officer regarding the arrest of assets of the bank under a ruling of Court of Appeals of Kyiv City dated September 5, 2018 when the court ruled to arrest shares of Ukrainian subsidiaries of Russian banks with government capital: VTB, Prominvestbank and Sberbank (all based in Kyiv).

The court issued the ruling after a hearing held on October 22, 2018.

According to the ruling, the decision of Court of Appeals of Kyiv City September 5 clearly specified the debtor in the enforcement proceeding – the Russian Federation in the person of the Justice Ministry. However, the private judicial officer on September 20, 2018 made a decision to open proceedings in the case where PIB was announced the debtor. On the same day, the private judicial officer decided to arrest the assets of the debtor – PIB's shares.

The court found that the private judicial officer went beyond the scope of his authority, changing the debtor in the open enforcement proceedings and the seized property. Thus, the court concluded that the arguments of the PIB complaint were valid.

The court also said that the Kyiv Court of Appeals began to function on October 3, 2018. It was established instead of liquidated of the Court of Appeals of Kyiv City and the Court of Appeals of Kyiv region in accordance with the presidential decree dated December 29, 2017.

Thus, the consideration of cases and materials that were in the proceedings of the liquidated courts, taking into account the new automatic distribution of cases, is carried out by the Kyiv Court of Appeals.

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