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Court deprives PrivatBank of ownership of Mir hotel
KYIV. Aug 18 (Interfax-Ukraine) – On August 16, the Economic Court of Cassation within the Supreme Court deprived PrivatBank of its ownership of the Mir Hotel in Kyiv, the press service of the financial institution reported on Wednesday.
"Today [August 16] we finally lost the case on the withdrawal of the Mir Hotel by the former owners (of PrivatBank)," Roman Sulzhik, a member of the Bank’s Supervisory Board, said in a press release.
As reported, during the first hearing of the case, the Supreme Court fully satisfied the complaint of PrivatBank and overturned the decision of the Court of Appeal, on the basis of which the financial institution was deprived of ownership of the Mir Hotel. At the same time, the Supreme Court came to the conclusion that the plaintiff AEF LLC had no violated right.
After that, the Economic Court of Kyiv and the Northern Economic Court of Appeal, in a new hearing of this case, made repeated decisions in favor of the opponents of the bank.
The rights to the construction of the Mir Hotel in Kyiv were transferred to PrivatBank in 2016 as a result of foreclosure on the mortgage property of Ardena LLC. Due to this property, part of the debt of AEF LLC under the loan agreement in 2013 was repaid in the amount of almost $18 million.
