31.05.19 14:24

Kolomoiskyi trying to block lawsuit in Switzerland through Ukrainian courts - NBU

Former PrivatBank stockholder Ihor Kolomoiskyi is again trying to block through Ukrainian courts a lawsuit filed by the National Bank of Ukraine (NBU) in Switzerland.

Kolomoiskyi trying to block lawsuit in Switzerland through Ukrainian courts - NBU

Censor.NET reports citing NBU website.

"On May 31, 2019, the Economic Court of Kyiv will consider the case on a lawsuit filed by Ihor Valeriyovych Kolomoiskyi against the National Bank of Ukraine and JSC CB PrivatBank for the invalidation of five loan refinancing agreements and five agreements on Kolomoiskyi's personal guarantee under these loans agreements," the report reads.

The NBU draws attention to the fact that such a lawsuit and the specified claims are an attempt by Kolomoiskyi to stop and then make it impossible to consider the proceedings initiated by the NBU in Switzerland, which is a sign of Kolomoiskyi's reluctance to fulfill its obligations under guarantee agreements.

In December 2018, the NBU appealed to a court of the Republic and Canton of Geneva at the place of residence of Kolomoiskyi so as to recover arrears from him as a financial guarantor in favor of the NBU. In 2016, Kolomoiskyi, who at that time co-owned a significant stake at PrivatBank, concluded guarantee agreements with the NBU and personally undertook to fulfill the NBU's requirements for repayment of refinancing loans received by PrivatBank during 2008-2014. In fact and legally, Kolomoiskyi remains a debtor to the NBU under the specified PrivatBank loans, the debts on which currently stand at UAH 9.2 billion.

Similar claims from Kolomoiskyi were satisfied by the Pechersky District Court of Kyiv on April 20, 2019, in the presence of the opposite and unequivocal case law of the Supreme Court in such legal relations.

The NBU draws attention to the fact that if the loan agreements and guarantee agreements are recognized as invalid in violation of the principle of estoppel (widely used in the practice of the Supreme Court), the Economic Court of Kyiv will in fact enable Kolomoiskyi to avoid responsibility for fulfilling his obligations under personal guarantee agreements. In addition, this will complicate the protection of interests of both the NBU and the state in litigation in other jurisdictions so as to reimburse losses inflicted on the state by former PrivatBank owners.

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