The Supreme Court confirmed the legality of the nationalization of PrivatBank.
The Cassation Administrative Court, which is part of the Supreme Court, confirmed the legality of the NBU order to check PrivatBank, as a result of which violations were revealed and a decision was made to nationalize the financial institution, the Ministry of Justice reported on July 26.
The bank’s press service noted that the Administrative Court of Cassation as part of the Supreme Court satisfied the complaint of PrivatBank, canceled the decision of the courts of previous instances and dismissed the lawsuit of Triantal Investments LTD, a company associated with the former owners of the bank.
This company demanded that the NBU order dated October 17, 2016 on checking PrivatBank be declared illegal.
This is the final court decision in this case, which is an important part of the legal struggle between the state-owned PrivatBank and the former owners over the legality of the bank’s nationalization. This victory in court confirms the bank’s ongoing struggle for its rights and demonstrates the ability to uphold the rule of law in Ukraine, the state institution said in a statement.
PrivatBank handed Kolomoisky a lawsuit for $5.5 billion (PHOTO)
Source: Racurs
