The High Court of England ordered the former owners of PrivatBank, Ihor Kolomoisky and Gennady Bogolyubov, to pay the bank over $3 billion in damages and legal costs.
Points of attention
- Ihor Kolomoisky and Gennady Bogolyubov have been ordered by the High Court of England to pay over $3 billion to PrivatBank in damages and legal costs.
- The court imposed a compensation sum of $1.762 billion on the former owners for damages, along with interest and advance payment to cover PrivatBank's expenses.
- The High Court of England rejected petitions by Kolomoisky and Bogolyubov to appeal the decision, mandating them to make the payments by November 24, 2025, with accruing interest on unpaid amounts.
Kolomoisky and Bogolyubov will pay $3 billion to PrivatBank
This was reported by the bank's press service.
The principal amount of damages to be paid to PrivatBank was set by the court at $1.762 billion. The court also ordered Kolomoisky and Bogolyubov to pay interest of $1.190 billion and to make an advance payment to cover PrivatBank's costs of £76.4 million ($99.6 million).
The press service clarified that Kolomoisky and Bogolyubov applied to the court with a request to grant permission to appeal the decision and to stay its execution pending consideration of such an appeal. However, both petitions were rejected by the court.
Thus, all of the above amounts must be paid by November 24, 2025, and in case of non-payment by that date, interest will be accrued on them.
If these amounts are not paid voluntarily, PrivatBank will immediately initiate the collection process and seek enforcement of the court decision against the assets of the former owners in order to obtain compensation for the bank and, accordingly, for its shareholder, the Government of Ukraine. The assets of the former owners have been under a court order for a worldwide seizure of assets since December 2017.
The bank also noted that the court ordered Kolomoisky and Bogolyubov to pay PrivatBank's costs on the basis of "full compensation."
Thus, Judge Trauer noted that "...the defendants' positions were inherently implausible and built on deliberate lies," and that Bogolyubov's attempt to distance himself from the fraudulent actions "was deeply misleading and dishonest." The court found that both Kolomoisky and Bogolyubov presented "a position intended to mislead the court."
In July 2025, the High Court of London ruled in favor of PrivatBank in the case against its former owners, recognizing their misappropriation of almost $2 billion of the bank's funds.
