14:34 26.01.2021

Court rules to delay sale of building of ex-owners of PrivatBank in Ohio for $17 mln

2 min read
Court rules to delay sale of building of ex-owners of PrivatBank in Ohio for $17 mln

The Delaware Chancery Court (the United States) has ruled to postpone the sale of a 22-storey building in Ohio owned by former PrivatBank owners Ihor Kolomoisky and Hennadiy Boholiubov, according to information released on the Law360 portal.

"Ukraine's largest commercial bank won a Delaware Chancery Court order to delay the sale of a 22-floor office building in Cleveland, Ohio, owned by affiliates of two Ukrainian oligarchs accused of defrauding the bank of billions over the last 15 years. Vice Chancellor Joseph R. Slights III gave PrivatBank representatives permission to conduct a limited deposition by Feb 6 of a person who brokered the proposed $17 million sale with an opportunity for the bank to submit a deal objection afterward. But the court also directed the bank to post a $195,000 bond," the document says.

As reported, on May 21, 2019, PrivatBank initiated legal proceedings in the Delaware Chancery Court against Kolomoisky and Boholiubov, as well as other individuals and legal entities, in which it claims damages in the amount of several hundred million U.S. dollars, which, according to the bank, it suffered as a result of various unlawful acts committed against it by its former owners, their affiliates, as well as various companies registered in the United States.

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