Ukraine’s state-owned PrivatBank has won a final victory in the High Court of England against its former owners — Ihor Kolomoisky and Hennadiy Boholiubov. The court ordered the businessmen to compensate the bank for more than $3 billion in damages and legal costs.
Source: OBOZREVATEL
According to PrivatBank, on November 10, the court imposed financial obligations on Kolomoisky and Boholiubov, which include:
- Over $1.76 billion in principal damages;
- Over $1.19 billion in interest;
- £76 million in legal costs.
The former owners attempted to appeal the July court ruling that found them guilty of large-scale fraud against the financial institution and requested a suspension of enforcement until their appeal was heard. Both motions were rejected by the court.
The compensation must be paid by November 24, 2025, after which additional interest will accrue in the event of nonpayment. PrivatBank stated that if the debtors refuse to comply voluntarily, the bank will initiate enforced recovery through their assets, which have been frozen since December 2017.
The financial institution recalled that after its nationalization in 2016, a $5.5 billion shortfall was discovered in PrivatBank’s accounts, prompting a state recapitalization.
“This decision is a complete victory for the Bank and confirms the correctness of our years-long struggle for justice and the return of funds to the Ukrainian people,” PrivatBank emphasized.
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