The Cassation Economic Court of the Supreme Court has issued a final ruling on the five-year case regarding the return of PrivatBank to its former owners, rejecting the cassation appeals of Igor Kolomoisky and the Cypriot company Triantal Investments Ltd.
This information was reported by the NBU press service on November 26.
Kolomoisky's Year in Pretrial Detention: What the Oligarch is Accused OfIgor Kolomoisky has been in pretrial detention for a year. Details of four accusations against the oligarch are presented in the infographic.“The Supreme Court has definitively confirmed that PrivatBank cannot be returned to its former owners. The court rejected the cassation appeals of Igor Kolomoisky and the Cypriot company Triantal Investments Ltd, upholding the decisions of lower courts to close the case regarding the return of the bank,” the statement reads.
The case was initiated by a lawsuit from former shareholders against the National Bank, the Cabinet of Ministers, the Ministry of Finance, PrivatBank, and the Deposit Guarantee Fund. The court reiterated that the nationalization process of PrivatBank in 2016 was lawful and that the rights of the former owners were not violated.
The decision was based on the provisions of Law No. 590-IX, which regulates banking activities. As noted by National Bank representative Viktor Hryhorchuk, this further confirms the impossibility of returning PrivatBank to the ownership of former shareholders.
It is worth mentioning that in September of this year, the Appellate Court confirmed the impossibility of returning PrivatBank to Kolomoisky.
Recall that in February 2023, the Appellate Court confirmed the legality of the nationalization of PrivatBank.
On December 18, 2016, the NBU recognized PrivatBank as insolvent and proposed that the government acquire ownership of its shares. The next day, the bank was nationalized.
On April 18, 2019, the OASK, based on a lawsuit from Igor Kolomoisky, deemed the government’s decision to withdraw the bank from the market with state involvement unlawful and annulled it. In May, the National Bank filed a cassation appeal.
Currently, Kolomoisky is in pretrial detention facing two accusations, including one related to the PrivatBank case.