Ukrainian Court Unfreezes 415 Real-Estate Properties Belonging To Kolomoisky

Mon, 15.07.2019 20:06

The Pecherskyi District Court of Kyiv has unfrozen 415 real-estate properties belonging to the Privatofis company, which is linked to businessman Ihor Kolomoisky.
This is stated in the court’s decision, the Ukrainian News Agency reports.

The court unfroze land, as well as non-residential and office premises located in Ukraine.

The court’s decision states that “the assets were frozen without evidence that the value of the real-estate properties that were frozen was proportion to the amount of damage caused by the criminal offense.”

As Ukrainian News Agency earlier reported, the District Administrative Court of Kyiv ruled on April 18 that the nationalization of PrivatBank was illegal after considering a lawsuit by the bank’s former co-owner Ihor Kolomoisky.

The court ruled that the defendants in the case failed to provide the legal grounds for declaring Privatbank insolvent, which served as the reason for its nationalization and that the procedure for nationalization of banks were violated.

The National Bank ofc intends to appeal against this decision, which has not yet entered into force.

The Cabinet of Ministers decided to acquire PrivatBank at a meeting on December 18, 2016, based on a proposal by the National Bank of Ukraine.

In accordance with this decision, the state owns 100% of the shares in PrivatBank through the Ministry of Finance.

The strategy for management of state banks provides for sale of PrivatBank within five years.

Source: Un

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