On December 7, the Economic Court of Kyiv postponed the hearing of case No. 910/17306/21 on the claim of Shakoor Capital Limited, holder of PrivatBank's eurobonds, against the bank and bond issuer UK SPV Credit Finance Plc, PrivatBank reported on Thursday.

According to the financial institution, a new session is scheduled for January 17, 2023 with the participation of third parties with independent claims on the subject of the dispute – J.P. Morgan Securities Plc, UBS AG, Pala Assets Holdings Limited and sole proprietor Sazonov D.V.

The bank recalled that the plaintiff seeks to invalidate the agreement concluded in December 2016 on the acquisition of shares concluded between PrivatBank and UK SPV Credit Finance Plc, by which the obligations of PrivatBank were exchanged for shares of the bank's additional issue when the bank was withdrawn from the market with the participation of the state in the bail-in procedure.

The financial institution said that the bail-in was an important part of the measures taken by the Ukrainian government to nationalize PrivatBank. Consequently, the court's satisfaction of the claim in this case could potentially lead to significant damage to the state budget.

The bank recalled that in May 2021, the Bank of England recognized the bail-in procedure carried out on the specified loans of UK SPV Credit Finance Plc in favor of PrivatBank.

In addition, in September 2021, the London Court of International Arbitration issued Final Arbitration Awards in favor of the bank on these disputes, confirming that PrivatBank has no obligations to pay the principal and interest to the plaintiffs under loan agreements dated September 17, 2010 (in the amount of $200 million on eurobonds in 2010) and on February 25, 2013 (in the amount of $175 million on eurobonds in 2013), PrivatBank said.