The Commercial Court of the city of Kyiv confirmed the impossibility of returning the state-owned Privatbank to its former owners. This was reported by the NBU press service.
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“Yes, by the decision of the Economic Court of the city of Kyiv dated May 7, 2024, the proceedings on the invalidation of the purchase and sale agreements of Privatbank were closed, as a result of which the state acquired ownership of 100% of the bank’s shares in December 2016, and the obligation to return the ownership of the shares to the former shareholders bank,” the message says.
The case was opened following a lawsuit by former shareholders of Privatbank Igor Kolomoisky and the Cyprus company Triantal Investments Ltd in the National Bank, the Cabinet of Ministers, the Ministry of Finance, Privatbank, and the Deposit Guarantee Fund.< /p>
According to the head of the claims department of the Legal Department of the NBU, Viktor Grigorchuk, the court closed the proceedings on the basis of the provisions of the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on Improving Mechanisms for Regulating Banking Activities” No. 590-IX.
< p>Indeed, according to this law, proceedings with such claims are subject to closure. The plaintiffs have formed such claims, the consequence of which is the return of the bank's shares to them, but the law directly prohibits this, which the court stated.
Viktor Grigorchuk also recalled that in accordance with Article 41 of the Law of Ukraine “On the Deposit Guarantee System individuals” after concluding an agreement for the purchase and sale of shares of an insolvent bank and their transfer to the investor, the state as an investor cannot be deprived of the right of ownership to the bank shares acquired by it; such shares cannot be claimed in favor of the previous owner.
B The National Bank was reminded that the Grand Chamber of the Supreme Court on February 15, 2023 upheld the ruling of the Commercial Court of the city of Kiev dated June 2, 2021, which closed the proceedings in the case of the former chairman of the board and minority shareholder of Privatbank, Alexander Dubilet, to invalidate the sale agreements of Privatbank.
Currently, the courts of Ukraine have closed proceedings on more than 30 court cases on claims of persons associated with Privatbank to invalidate the purchase and sale agreements of Privatbank.
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