A court in the UK has upheld the $3 billion judgment against the former owners of PrivatBank
The Court of Appeal of England and Wales has upheld the ruling to recover over $3 billion from PrivatBank’s former owners, Ihor Kolomoyskyi and Hennadiy Boholyubov. This includes damages, interest, and legal costs previously determined by the High Court of England and Wales.
PrivatBank announced this.
“PrivatBank welcomes the Court of Appeal’s decision, which upheld the High Court of England and Wales’s original ruling that Messrs. Kolomoisky and Bogolyubov committed large-scale fraud against the bank and must compensate it for the losses incurred,” the statement reads. — “In particular, the Court of Appeal rejected the former owners’ arguments that they had returned the misappropriated funds using proceeds obtained through subsequent fraudulent acts against the bank.”
According to the statement, in 2017, the bank received a court order for a worldwide seizure of the defendants’ assets.
PrivatBank will now seek enforcement of the court’s substantive ruling regarding these assets to obtain compensation for the bank and, accordingly, for its shareholder—the Government of Ukraine.
“Today is a landmark day in PrivatBank’s fight for justice in the interests of the State of Ukraine and its people. We are determined to recover the significant funds that were stolen so that they can be returned and used for the benefit of the Ukrainian people. We are grateful for the unwavering support of our stakeholders and international partners, without whom this significant victory would not have been possible,” said Nils Melngailis, Chairman of PrivatBank’s Supervisory Board.
PrivatBank has paid nearly UAH 14 million to sole proprietors for energy efficiency.
The Cabinet of Ministers of Ukraine approved funding for the first phase of the new state program “SvitloDom,” aimed at providing apartment buildings with autonomous energy sources.
The Kyiv region received the first batch of aid from Poland—35 generators of various capacities and 18 oil heaters. This is the first phase of a major support program designed to ensure the stable operation of critical infrastructure in the region.
