The Ukrainian court ruled in favor of the government in the Private bank case



The Supreme Court of Ukraine on Monday ruled in favor of the government in a major lawsuit surrounding the country's largest lender, Prevent Bank, which means the government owes $ 37 million to two billion-dollar brothers. Don't pay too much.


The government's arrest since the 2016 nationalization of PrivatBank is considered a litmus test for President Volodymyr Zelensky to accept the reform agenda and the deep-rooted vested interests.

The victory came just days after the government signed a new $ 5 billion deal from the International Monetary Fund, which was part of dealing with the Privatank issue.

The Supreme Court has ordered merchant brothers Hrihori and Ihor Zurkis to pay back 1 billion hryvnias ($ 37 million).

The Central Bank identified the Sarkis brothers as parties belonging to Ivor Kolomovsky, former owner of Privatbank, and added money in bail from their deposits at Privatbank.

The Surkis brothers challenged that decision in a legal battle that ended in the Supreme Court. He did not immediately comment on the ruling.

The Central Bank of Ukraine welcomed the decision on Monday, saying that the decision to announce the Surkis family belonged to Private Bank.

The lender's practices have bankrupted the lender after private lending, the central bank said. Kolomisky, one of the wealthiest people in Ukraine, has denied any wrongdoing and has always fought to reverse the move.

The Central Bank and the Pruittbank were concerned that the success of the Surkey brothers would serve as an example and provoke other arguments in Monday's case.

Jelinski, who rose to fame as an actor on a Kolenky-owned TV channel, has denied that he has served business interests since taking over last year.

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