PrivatBank Launching Lawsuits Against Kolomoisky and Boholyubov in Israel
The bank initiated a new lawsuit in Tel Aviv District Court in Israel against former bank owners and other defendants yesterday. The claim amounts to 600 million dollars, the bank’s press service reports.
“From our side, we fully support the statement from the country's leadership on the importance of PrivatBank for financial stability and national security. And we are ready to support this statement not just by words but by actions. According to the law, the Independent Supervisory Board and the Management Board of the bank must make every possible effort to obtain compensation for the bank’s losses from those who caused these losses.
Yesterday, the Bank commenced a new litigation before the District Court of Tel Aviv, Israel, against the former owners and other defendants. The amount of the claim is USD 600 million,” as it is stated in the official statement signed by Sharon Easky, Chairperson of the Supervisory Board, and Petr Krumphanzl, Chairperson of the Management Board.
The bank also increased the amount of its claims before the Chancery Court of Delaware having submitted an amended complaint to the Court.
Three years ago, on December 18, 2016, the Government made a decision on the nationalization of the biggest financial agency in Ukraine, referring to the proposals from the NBU and former shareholders of PrivatBank, namely Ihor Kolomoisky and Henadiy Boholyubov.
The ex-owners of the bank consider the nationalization, as a result of which they had completely lost their shares, to be illegal, whereas PrivatBank and the state demand additional compensation from them for damage.
On October 15, 2019, the Ukrainian PrivatBank won in the Court of Appeal in London against its ex-owners Ihor Kolomoisky and Henadiy Boholyubov. The Court approved its jurisdiction over the claims brought by PrivatBank, and the jurisdiction to hear the bank’s claims against the former owners and decided that a worldwide order freezing the assets of Kolomoisky and Boholyubov should remain in place, while the case was heard.
The three Lord Justices of Appeal concluded that the Bank had a good arguable case to recover the full $1.9 billion ($3 billion including interests). The court refused to give the defendants permission to appeal and required them to file their defence by the end of November.
