The Supreme Court has promoted the decision of the sixth court of the administrative appeal, which in November 2023 closed the case of appeal to privatbank nationalization.
On February 26, the Supreme Court made the final decision in the case of the return of privatbank to former -owned. The court rejected the Appeal of Igor Kolomoisky cassation and confirmed the closure of the proceedings. This was reported by the NBU Press Service on Thursday, February 27.
As such, the bank remains in the state’s ownership, and its nationalization is recognized as legal.
The Supreme Court has promoted the decision of the sixth court of the administrative appeal, which in November 2023 closed the case of appeal to privatbank nationalization. The court has confirmed that the state has legal grounds for removing a bank from the market in 2016.
The head of the NBU Andrei Pyshny greeted the decision and emphasized that it confirmed the country’s high laws. According to him, privatbank nationalization is a necessary step for the financial stability and protection of depositors.
On December 18, 2016, the National Bank decided to identify Privatbank invvent and subsequently withdraw from the market with state participation and turned to the government with a proposal to obtain the owner of bank shares.
This decision is based on a reduction in regulatory capital volume at a negative value. Privatbank’s lack of capital has been confirmed, in particular, an independent international recognized auditing company. Bank shareholders did not fulfill the obligations conducted for financial recovery.
On the same day, the Cabinet of Ukraine ministers decided to enter the state in the Privatbank capital. Privatbank transfer to state ownership occurred in accordance with Article 411 of the Law “in the system for guarantee of individual deposits”. This decision makes it possible to avoid systematic risks for the banking sector and has been key to maintaining financial stability in the country. The State conducted a banking of a bank worth more than 155 billion UAH.
Remember that in February 2023 the Supreme Court confirmed the legality of privatbank nationalization.
Earlier it was reported that the NBU won the Kolomoisky court of 18 billion hryvnias.
Later, the court of the cassation economy confirmed to the Supreme Court on November 26 the impossibility of restoring the state privatbank to former co -owner Igor Kolomoisky.
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Source: korrespondent
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