On December 16, the Grand Chamber of the Supreme Court announced a break until January 31 in hearing a cassation appeal of the NBU, the Finance Ministry and PrivatBank against ruling of the courts of lower instances in litigation with the Surkis family. The hearing on the annulment of the decisions of the NBU by which the central bank recognized them persons affiliated with PrivatBank and invalidating the agreements on exchange of their funds in the bank to the bank’s shares (bail-in) later purchased by the state will be held in a month and a half.
This was reported by Economichna Pravda (literally – Economic Truth).
“A break was announced until January 31, 2020. The postponement was due to the need to study the case materials by the PGO,” as Interfax Ukraine cited.
PrivatBank, according to available information, had previously executed the decision of the trial court and the court of appeal in favour of the Surkis family. However, for the National Bank, the Finance Ministry and the bank, in addition to these payments, it is important to defend the legality of the bail-in procedure, if the bank loses to the Surkis family, it is more likely that other participants in this procedure will go to court for a total of over ₴29 billion.
In addition, its recognition as illegal will call into question the entire nationalization of PrivatBank.
According to the senior legal adviser of the legal department of the NBU Serhiy Kolosiuk, today there are already about 50 bail-in trials for a total of ₴20 billion.