The Supreme Court overturned the decisions of the courts of the Dnipropetrovsk region on the recovery of funds from PrivatBank in favor of a person associated with the former owners of the financial institution.
“On April 12, 2023, the Supreme Court satisfied the cassation appeal of PrivatBank and canceled the illegal decisions of the courts of the Dnipropetrovsk region to recover funds from the state bank in favor of a person associated with the former owners of PrivatBank,” the report says.
It is indicated that this case has been considered by the courts since 2017. Its subject was an appeal against the attraction of funds of a person associated with the former owners of PrivatBank to a bail-in operation carried out in pursuance of the provisions of the Law of Ukraine On the system of guaranteeing deposits of individuals in the procedure for the nationalization of PrivatBank in 2016.
The Supreme Court agreed with the arguments of PrivatBank that the plaintiff did not refute the fact of his connection with PJSC CB PrivatBank, and the debiting of funds from his accounts was carried out if there was an appropriate legal basis for this, which is an agreement on the acquisition of shares, concluded by an authorized person of the Fund from the name of the plaintiff as his representative in fulfillment of the requirements of the law.
The bank recalled that in 2016, when in general the rescue of PrivatBank cost the state UAH 155 billion, it was thanks to the bail-in operation that the authorized capital of PrivatBank was increased by almost UAH 29.4 billion. But some people connected with the former owners and top management of the bank have been storming the courts for years.
So, the Supreme Court is considering two more similar cases, in which the Dnipro Court of Appeal also decided to recover funds from the bank. This is a case at the suit of Bogolyubova O. L. (ex-wife of one of the former ultimate beneficial owners of Bogolyubov G. B.), in whose favor on July 27, 2022 the same Dnipro Court of Appeal recovered over UAH 669 million from PrivatBank, and one more case for more than 24 million hryvnias.
