• 12/04/2024 11:42

Fridman's company sued Ukraine over the nationalization of Sense Bank: they demand $1 billion

The company of Russian billionaire Mikhail Fridman ABH Holdings SA, which was the nominal owner of Sense Bank, filed a lawsuit against Ukraine and demands compensation for the forced nationalization of the financial institution in the amount of $1 billion. This is stated in the company's statement.

Friedman's company sued Ukraine over the nationalization of Sense Bank: they demand $1 billion

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The company filed a claim with the International Center for the Settlement of Investment Disputes (ICSID), the world's leading body for resolving investor-state disputes under the auspices of the World Bank in Washington.

“The amount claimed is more than one billion US dollars. The legal basis for the claim is the Agreement between the Belgian-Luxembourg Economic Union and the Government of Ukraine on mutual assistance and protection of investments,” ABHH explained.

Friedman’s company claims arbitrary and discriminatory steps by Ukraine against the bank’s ex-shareholders, and also “black PR campaigns of Ukraine” and will consider the possibility of presenting these facts to international arbitration.

Recall that Ukraine became the owner of 100% of the shares of Sense Bank (formerly Alfa Bank Ukraine) on July 21, 2023 of the year. Mikhail Fridman and his business partners have been under international sanctions since the beginning of the Russian invasion.

minfin.com.ua

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