Court suspends consideration of PrivatBank's cassation to terminate NFP's loan obligations pending consideration of similar case by Grand Chamber

The Supreme Court suspended consideration of the cassation appeal of PrivatBank (Kyiv) against rulings of the lower courts on recognizing as terminated the obligations of Nikopol Ferroalloy Plant JSC (NFP, Dnipropetrovsk region) under one of the loan agreements before the bank pending consideration of a similar case by the Grand Chamber.

"The decision to suspend was made, despite the fact that the Grand Chamber of the Supreme Court has not yet decided whether to accept case No.910/14224/20 or not, according to the law, it can return the case back to the Economic Court of Cassation," the bank's press service said on Wednesday.

At the same time, the Democratic Sokyra party said the transfer of the case on the suit of Ihor Kolomoisky's NFP to PrivatBank to the Grand Chamber of the Supreme Court "is an attempt to slow down decisions that could affect the decisions of the U.S. courts in favor of PrivatBank."

"Ihor Kolomoisky uses spam tactics. He bombards Ukrainian courts with hundreds of similar lawsuits in order to manipulate American justice. But this scheme could not work if, conditionally, honest Ukrainian judges would rule in favor of Ukraine. But they do not," co-founder of the party Anton Shvets said at a briefing in Kyiv on Wednesday.

In an interview with Interfax-Ukraine, he accused the leadership of the Economic Court of Cassation within the Supreme Court of unwillingness to make decisions that run counter to the interests of Kolomoisky. "Kolomoisky negotiates with Lvov [head of the Economic Court of Cassation], so they act together," Shvets said.

He also said the President's Office of Ukraine could have influenced the court's ruling. "If the President's Office really wanted Ukrainian judges to make fair decisions, he would have arguments for corrupt judges," Shvets said.