The Northern Commercial Court of Appeal satisfied PrivatBank’s appeal and overturned the decision of the Commercial Court, denying Nikopol Ferroalloy Plant (NZF) the claim. About this informs press service of PrivatBank.
The appeal took almost a year as NZF and its affiliated companies, including the Zaporizhzhya Ferroalloy Plant and the Marganetsk and Pokrovsky Mining and Processing Combines, used various methods to delay the process, including filing numerous motions and complaints.
PrivatBank noted that the enterprises tried to achieve the recognition of all obligations under loans as “fulfilled”, although the bank had no disputes with these enterprises. According to the bank’s lawyers, such actions by the National Insurance Fund were an attempt to strengthen the position of the ex-owners of PrivatBank in the process in the USA, where the money laundering case is being considered.
PrivatBank reminded that in 2019 the bank started a lawsuit in the state of Delaware against the former owners Igor Kolomoiskyi and Gennadiy Bogolyubov, as well as a number of legal entities and individuals. The bank is seeking compensation for losses caused by schemes used to appropriate assets in the US.
The total amount of the lawsuit, which includes participants in these schemes, is more than $685 million, plus interest.
