OREANDA-NEWSThe Court of Appeal of London confirmed the jurisdiction of the English court to consider the claim of Privatbank against the former owners - Igor Kolomoisky and Gennady Bogolyubov. This is stated in the message of the credit organization.

It explains that in 2018, the High Court of London rejected the bank’s complaint against its former executives due to incorrect jurisdiction and decided to cancel the previously imposed worldwide seizure of Kolomoisky and Bogolyubov’s assets. As indicated in the message of Privatbank, the court of appeal reversed this decision and ruled that the lawsuit could be considered on the merits in England.

Defendants won't be able to appeal this decision. The date of the consideration of the case on the merits will be determined by the court in due course. Privatbank, previously owned by Kolomoisky (a share of 41.6%) and Bogolyubov (33.2%), was nationalized in December 2016 for a symbolic amount of one hryvnia. After nationalization, the Ukrainian authorities called Privatbank a “financial pyramid”, and a lawsuit was filed against its former owners on suspicion of illegally withdrawing nearly $ 2 billion. Taking into account costs and interest, Privatbank intends to recover about $ 3 billion from ex-executives.