: :inin Kyiv (EET)

Ex-owners of PrivatBank may challenge bank`s nationalization in court – lawyer

The number of loans issued by PrivatBank to related parties, announced by the National Bank of Ukraine (NBU), has not been confirmed to date, which allows the former owners of the bank to challenge the state`s decisions on its nationalization in court, Managing Partner at Suprema Lex law firm, adviser to PrivatBank`s bond holders Viktor Moroz said, according to an article by Yuliya Samayeva in ZN.UA.

”In fact, a significant number of loans issued to related persons and declared by the NBU, which actually formed the basis for the nationalization of the bank, has not been confirmed to date,” Moroz said, ZN.UA reports.

”The former owners of the bank have grounds to challenge the state`s decision to nationalize PrivatBank, however, as far as I know, this is not part of their plans yet,” the lawyer said.

According to Samayeva, in the future, the doubted list of related persons and the method of their determination may become the basis for attempts to return the bank to previous owners through courts.

”Of course, this will not take months but years since it is desirable to return the bank in an excellent financial condition, provided at the expense of taxpayers,” Samayeva said.

On December 18, 2016, the Cabinet of Ministers of Ukraine decided to nationalize Ukraine`s No. 1 bank, Dnipro-based PrivatBank, being guided by the recommendations of the National Security and Defense Council.


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