13:45 09.09.2020

Supreme Court suspends execution of court ruling to recover $350 mln from PrivatBank

2 min read
Supreme Court suspends execution of court ruling to recover $350 mln from PrivatBank

On September 8, the Supreme Court initiated proceedings on the cassation appeal of the Cabinet of Ministers against the ruling of the Pechersky District Court of Kyiv made in February 2017 on the obligation of PrivatBank to service the deposits of the Surkis brothers' companies and at the same time stopped its execution until the end of the cassation proceedings in the case.

The press service of the Supreme Court said on its Facebook page on Wednesday, when satisfying the petition of PrivatBank the court also took into account that the ruling of the Pechersky District Court of the city of Kyiv dated September 2, 2020 determined the procedure for executing the ruling of the same court dated February 9, 2017 via recovering $347 million from PrivatBank in favor of Surkis brothers' companies.

"The panel of judges recognized the validity of the risks for the applicant before the cassation court makes a decision in this case, as well as the likelihood of difficulties in turning the execution of the court decision if it is canceled by the Supreme Court," the press service said.

The press service of the Supreme Court said that, while satisfying the petition to suspend the execution of the ruling, the court does not assess the validity of the cassation appeal filed, but only establishes the existence of threats to ensure the balance of interests of the parties.

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