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Ex-shareholder of PrivatBank Gorokhovsky rejects legal action seeking to invalidate bail-in procedure
KYIV. Jan 16 (Interfax-Ukraine) – The Economic Court of Kyiv has closed the proceedings on the claim of the ex-minority shareholder of PrivatBank (Kyiv) Oleh Gorokhovsky (previously owned 0.3236% of the shares of the financial institution) who was seeking to invalidate the agreement on the sale of the bank’s shares, the press service of the bank reported on Monday.
"Today, the Economic Court of the city of Kyiv closed the proceedings on the suit of Oleh Gorokhovsky in connection with the plaintiff’s statement about the refusal of the claim," PrivatBank said in a statement.
According to it, there are more than 40 court cases in the Economic Court of Kyiv on the claims of the former owners of PrivatBank seeking to invalidate the bail-in procedure.
As reported, in July 2020, the Economic Court of Kyiv closed the proceedings on Gorokhovsky’s claim who was seeking to invalidate the agreement on the sale of shares in PrivatBank, as a result of which the bank was nationalized. The decision was made on the basis of the norms of the law on banks.
Despite this, later the courts of appeal and cassation reversed the decision to close the proceedings and returned the case to the Economic Court.
On December 18, 2016, the Government of Ukraine, referring to the proposal of the National Bank of Ukraine and the former shareholders of PrivatBank, the largest of which at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution on the Ukrainian market and poured over UAH 155 billion into its capital.
According to the statistics of the National Bank of Ukraine, as of November 1, 2022, PrivatBank ranked first in terms of total assets (UAH 706.142 billion) among 67 banks operating in the country.
