The court declared the nationalization of “PrivatBank” partially illegal

The plaintiffs demanded from Privat to return written-off during the nationalization of deposits in the amount of more than 1 billion UAH.

The district administrative court of Kyiv declared the nationalization of PrivatBank partially illegal. This is stated in judgement No. 826/20239/16 from may 17.

The court considered the claim 6 individuals to the National Bank, the Fund for guaranteeing deposits of physical persons, Ministry of Finance, as well as persons authorized to exercise temporary administration in the Bank at the end of December 2016. The plaintiffs asked the court to declare illegal a number of decisions.

So, the plaintiffs requested to cancel the decision of the NBU, which they acknowledged with Bank related persons. They also asked the court to invalidate the agreement on purchase and sale of shares of PrivatBank of 21 December 2016, entered into between the guarantee Fund and the Ministry of Finance, in respect of the rights and interests of the plaintiffs.

The plaintiffs also demanded from Privat to return written-off during the nationalization of deposits in the amount of more than 1 billion UAH and they lost interest.

Having considered the parties ‘ arguments, the court granted all of the plaintiffs.