The Cassation Economic Court as part of the Supreme Court rejected the claims of former shareholders Igor Kolomoisky and Triantal Investments LTD, confirming the impossibility of returning the state-owned PrivatBank (Kyiv) to its former owners, as reported in the bank's press release on Tuesday.
"(…) The case involving Kolomoisky and Triantal posed significant risks to the country's financial system due to the demands of our opponents; however, the bank remains state-owned. The case is closed in accordance with the provisions of the current legislation of Ukraine regarding the impossibility of returning the bank's shares to former owners," noted Solvita Deglava, a member of the bank's management board for reorganization and troubled assets.
PrivatBank reminded that in this case, the plaintiffs were Kolomoisky and Triantal Investments LTD, which previously owned 41.6572% and 16.8176% of the shares, respectively. The former owners attempted to challenge the agreement for the acquisition of PrivatBank's shares by the state and reclaim their shares in the financial institution.
Earlier, on September 10, 2024, the Northern Appeal Economic Court confirmed the legality of the first-instance court's decision to close the proceedings in the case based on the "anti-Kolomoisky" law No. 590-IX.
According to the National Bank of Ukraine, as of October 1 of this year, PrivatBank ranked first in total assets (UAH 915.67 billion) among 62 operating banks in the country. The net profit of the financial institution for the first nine months of 2024 amounted to UAH 48.35 billion.