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Posted On

12
October
2021

Court reopens proceedings on PrivatBank ex-shareholder Dubilet claim on invalidating bank's nationalization

KYIV. Oct 11 (Interfax-Ukraine) – On October 11, the Northern Economic Court of Appeal upheld the appeal of former shareholder of PrivatBank (Kyiv) Oleksandr Dubilet against the lower court’s ruling to close the proceedings regarding the invalidation of ageements for the sale of shares of a financial institution, as a result of which the bank was nationalized, adopted on the basis of "banking" law No.590-IX.

"The Northern Economic Court of Appeal upheld the appeal of Oleksandr Dubilet against Kyiv’s Economic Court ruling […] to terminate the proceedings on the basis of […] law No.590-IX and overturn the ruling dated June 2, despite the direct indication of law No.590-IX on the need the closure of this kind of case at the suit of the former owner of the banking institution that was withdrawn from the market or liquidated," the bank’s press service said on Tuesday.