According to Finbalance, on May 18, 2020, the Kyiv Court of Appeal opened appellate proceedings on appeal of Cabinet of Ministers against the decision of the Pechersk District Court of Kyiv of February 9, 2017. According to the decision of court Privatbank must comply with deposit agreements ($ 250 million ) at the request of foreign companies related to Surkis brothers within the framework of securing the claim, which were concluded with the Cypriot branch of Privatbank. We remind you that these funds have already been withdrawn by the state as part of the bail-in procedure during the nationalization process of Privatbank, in December 2016.
The Kyiv Court of Appeal refused to grant the request of the Ministry of Justice, to terminate the above-mentioned decision of the Pechersk District Court of Kyiv of February 9, 2017.
We want to remind, that the Pechersk District Court of Kyiv, by its decision of February 25, 2020, upheld by the decision of the Kyiv Court of Appeal of April 15, 2020, confirmed the decision of February 9, 2017 on Privatbank's obligation to comply with deposit agreements with Surkis brothers companies (Camerin Investments LLP , Tamplemon Investments LLP, Berlin Commercial LLP, Lumil Investments LLP, Sofinam Investments LLP) (№757 / 7499/17-ц).
Privatbank insisted that the execution of these agreements is impossible, as these deposits were converted into the bank's capital during nationalization as funds belonging to persons associated with the ex-owners of Privatbank. The connection of persons was established by the definition of the National Bank of Ukraine.
The Minister of Justice Denis Maliuska stated that the state executors will not collect $ 250 million from Privatbank in favor of Surkis brothers companies.
On June 15, 2020, the Grand Chamber of the Supreme Court plans to consider cassation appeals of the National Bank of Ukraine and Privatbank against the decisions of lower courts in the case of another lawsuit of Surkis and their relatives — to cancel the National Bank's decisions to recognize them as related persons to Igor Kolomoisky and Privatbank and invalidation of the confiscation of their deposits (over UAH 1 billion) during the nationalization of Privatbank.
As you know, in December 2016, during the nationalization of Privatbank under the bail-in (forced conversion of deposits in shares of the bank) were funds of depositors and investors for a total of UAH 29.4 billion. The authorized capital of Privatbank was increased by this amount. Following the completion of this operation, the Ministry of Finance bought Privatbank from the DEPOSIT GUARANTEE FUND FOR INDIVIDUALS for UAH 1 and eventually invested UAH 155 billion in Privatbank (an additional issue of shares for this amount was paid for by government bonds).