The Supreme Court satisfied the cassation appeal of PrivatBank and rejected the lawsuit related to the former owners of PrivatBank, Triantal Investments LTD.
The Administrative Court of Cassation as part of the Supreme Court finally confirmed the legality of the nationalization of PrivatBank. Corresponding court decision published on the bank’s website.
On July 26, 2022, the Cassation Administrative Court as part of the Supreme Court (judges A.I. Rybachuk (presiding judge), A.Yu. Buchyk and L.V. Tatsii) satisfied the cassation appeal of PrivatBank, annulled the decision of the courts of previous instances and rejected the claim of the related to the former owners of PrivatBank, the company Triantal Investments LTD, on recognizing as illegal and canceling the order of the National Bank of Ukraine dated October 17, 2016 regarding the inspection of PrivatBank.
It was as a result of this inspection that the National Bank discovered irregularities in the work of the management and former owners of the bank, after which it nationalized it in order to avoid bankruptcy and preserve financial stability in the country.
This is the final court decision on this case, which is an important component of the legal battle between the state-owned PrivatBank and its former owners regarding the legality of the bank’s nationalization. This victory in court confirms the relentless struggle of the bank for its rights and demonstrates the possibility of observing the rule of law in Ukraine
