The Central Economic Court of Appeal in Dnipro upheld the appeal of PrivatBank and overturned the ruling on the liquidation of Novopharm LLC, which has an outstanding debt of UAH 4.3 billion to the bank, the case was sent for consideration by the trial court.

"In addition, the court closed the proceedings on the appeal of another Novopharm creditor, Sakharprom LLC, denied the liquidator's and Sakharprom LLC's petitions for the recovery and attachment of evidence, and also rejected the application of (former first deputy chairman of the bank) Volodymyr Yatsenko on joining the appeals of the bank and Sakharprom LLC, PrivatBank said on Tuesday.

The financial institution recalled that a few days before the nationalization of 2016, PrivatBank officials decided to provide Novopharm with a loan of UAH 3.2 billion to restructure the firm's debt to the bank, despite the fact that in December 2015 the NBU commission recognized Novofarm as a person associated with the bank.

In October 2020, the Economic Court of Dnipropetrovsk Region satisfied the claim of PrivatBank against Novopharm and its financial guarantor, Pointex Sale LLP, to recover the debt. However, already in April 2021, the same court declared Novopharm bankrupt, and in July 2022 it liquidated Novopharm without repaying PrivatBank's debt "due to the insufficiency of the bankrupt's property", against which PrivatBank filed the appeal.