A Court in Ukraine Has Arrested the Shares of the Subsidiaries of Sberbank and VTB
OREANDA-NEWS The Kyiv Appeal Court arrested shares of the Ukrainian subsidiaries of Sberbank, VTB and VEB on the claim. This happened as a recovery from Russia of compensation for property in the Crimea.
The court in Kiev, in particular, arrested shares of Prominvestbank (a subsidiary of VEB), Sberbank (a subsidiary of Sberbank of Russia) and VTB Bank (a subsidiary of VTB). In addition, joint stock company Raiffeisen Bank Aval is prohibited from carrying out any operations on the securities account of Sberbank of Russia.
The court also prohibited the banks to liquidate or reorganize their legal entity.
A total of 19 companies filed a lawsuit. According to the decision, the decision of the court is subject to immediate implementation, the period of its presentation for implementation is three years. It may be appealed to the Supreme Court of Ukraine within 30 days.
Sberbank of Russia reported that they intend to appeal the decision of the Kiev court in the near future.
"The Bank operates on the territory of Ukraine in full compliance with the legislation and regulatory norms of the country. The seizure of shares does not affect the Bank's customer service. The financial condition of the Bank remains stable. The Bank's capital adequacy ratio is twice that of the NBU. The Bank is able to fulfill all its obligations to customers, " the press service of the credit organization said.
State Duma Deputy from the Crimea Ruslan Balbek sure that Moscow future will take retaliatory measures on the decision of the Ukrainian court in the near.
"Probably, it will take some time to conduct research concerning not only Kolomoisky, but also his entire judicial group — perhaps these people have a business or property in the Crimea or in our country — and, for sure, semi-legal, which is requested in the state budget of Russia", - said the Deputy.
"This decision is the best illustration of all political and economic processes taking place in Ukraine." Polonsky said.
He recalled that in difficult times, Russia was the main investor in the Ukrainian economy.
"It is Russia in the most difficult and difficult situations for Ukraine to provide it with serious financial assistance - it is low gas prices, and multibillion-dollar loans. It is obvious that biting the hand of the nursing is still the main principle of the current Ukrainian government and the oligarchy closely connected with it, " the politician concluded.
Proceedings in the Permanent Court of arbitration for compensation of losses of Ukrainian companies began in October 2016. Then Kiev demanded to pay eight billion dollars.
In May, a court in the Hague ordered Russia to compensate the Ukrainian side for the loss of Crimean assets. We are talking about the compensation of 159 million dollars for "violation of the rights of Ukrainian investors since March 21, 2014".
Moscow, in turn, does not consider itself a party to this process. Russia was not represented in court and after the verdict repeatedly stated that it would challenge it.