Privatbank filed a new lawsuit against Kolomoisky and Bogolyubov for $ 5.5 billion

Privatbank filed a new lawsuit in Cyprus against former owners of financial institution Igor Kolomoisky and Gennady Bogolyubov for $ 5.5 billion.

This was announced by a member of the Supervisory Board of Privatbank Roman Sulzhik on the TV show “Freedom of Speech by Savik Shuster”

He explained that this lawsuit was related to dubious cash withdrawal transactions that were conducted at Privatbank from 2013 to 2016, and this time they did not alone. Now, together with Kolomoisky and Bogolyubov, one of the former members of the bank’s board and two companies in Cyprus will respond.

According to the Privatbank website , it is about Timur Novikov and Cyprus companies – PrimeCap (Cyprus) Limited and Duxton Holdings Limited.

The bank believes that their schemes have all the signs of fraud and money laundering.

“The bank’s suit relates to two series of transactions that the bank allegedly carried out illegally between 2013 and 2016, at the behest of its former owners and with the assistance of other defendants, who provided huge sums to companies owned and / or controlled by the lender. Kolomoisky and Mr. Bogolyubov, according to the loan agreements, which the bank believes are drowned and none of which has been repaid, “- said in the financial institution.

According to the financial institution, such transactions included a scheme under which $ 2.34 billion was sent to a Cypriot company linked to the former owners of the bank – Duxton Holdings Limited, by transferring tranches of $ 30 million over four months in 2013.

This lawsuit is part of PrivatBank’s claims against Kolomoisky and Bogolyubov, which are being considered in England, Cyprus, the US and Israel, totaling more than $ 10 billion.

Recall:

The Verkhovna Rada in the first reading supported the bill No. 2571-d on improvement of some mechanisms of regulation of banking activity. The bill stipulates that the owners and ex-owners of the bank can receive damages only in cash.

December 18, 2016 NBU declared “Privatbank” insolvent. It was necessary to withdraw it from the market in accordance with Article 41.1 of the Law “On the Deposit Guarantee Scheme for Physical Deposit. 

Immediately after PrivatBank was declared insolvent, the NBU addressed the Cabinet of Ministers of Ukraine with a proposal to transfer this systemically important bank into state ownership.

The bank became state-owned, and the state spent over UAH 155.4 billion on its capital increase.

In December 2017, PrivatBank sued the High Court of London against Igor Kolomoisky, Gennady Bogolyubov, and Teamtrend Ltd., Trade Point Agro Ltd., Collyer Ltd., Rossyan Investing Corp., Milbert Ventures Inc. and ZAO Ukrtransitservice Ltd, which are likely to be owned or controlled by them.

In September 2018, the Kyiv District Administrative Court upheld the  lawfulness of  the National Bank’s decision to classify Privatbank as insolvent by rejecting a bank customer claim.

(c) epravda

7 comments

  • “This lawsuit is part of PrivatBank’s claims against Kolomoisky and Bogolyubov, which are being considered in England, Cyprus, the US and Israel, totaling more than $ 10 billion.”

    Good, no use trying to sue Kolomoisky in Ukrainian courts.

    Liked by 5 people

    • I feel sorry for Ukraine, so much hope we had in 2014-15, now it’s the same old corrupted state as before Maidan. Poroshenko was on the right way, even if the progression was slowed down in the Rada, he should have been given another periode as president. Six points down in the corruption index the first year of Zelensky tells us all we need to know about todays government

      Liked by 5 people

  • It is clear that Putin is controlling the oligarchs, to keep out investors from the West. I posted an article this morning by Hromadske, which illustrates the situation well. Zelensky’s government was installed by Putin, the elections were rigged.

    Liked by 6 people

    • Of course he is, that’s why Kolomoisky said go to Russia for money instead of the IMF.

      Liked by 6 people

    • I don’t know if the election was rigged, some people always feel the grass is greener on the other side of the fence and end up electing a TV-personality. Not unlike what they did in another country on the other side of the Atlantic sea 😉

      Liked by 6 people

      • Prince William of Orange

        I think the elections weren’t rigged, but the people chose the wrong guy. Although: what alternative did they have? Porochenko also tried to rescue the oligarchs by having the prosecutor general destroyed by Shokin and Lutsenko. The NABU and anti-corruption court were completely useless because of them.

        90% of the reforms implemented under Porochenko were required by the IMF, and so will be the reforms that Zelensky will implement. If there was no IMF, Ukraine would still be where it was before the Maidan.

        I think only the rockstar dude seem to be more genuine, and there are some other smaller parties that are reform minded. And even within Zelensky’s party, there are people that want to reform and are now very disappointed. I wouldn’t be surprised if his party will collapse if Zelensky will keep dragging his feet on reforms.

        Liked by 5 people

  • onlyfactsplease

    Maybe – just maybe – one day, Ukraine will be free from oligarch influence. Then, a huge step forward to a brighter future will have been taken. This lawsuit is a good opportunity to clip the wings of two of them, although they should be in prison to rot.

    Liked by 4 people

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