Privatbank was able to win a multi-billion dollar lawsuit against oligarchs Ihor Kolomoisky and Gennady Bogolyubov in the High Court of London.
Points of attention
- Former owners Kolomoisky and Bogolyubov may face a hefty payment of over $2 billion, including interest and legal costs, as part of the court's ruling.
- Privatbank aims to recover its losses by seizing assets belonging to Kolomoisky and Bogolyubov, who may be held accountable for their actions in the financial misconduct case.
What did the High Court of London decide?
The judges concluded that Kolomoisky and Bogolyubov misappropriated about $2 billion from the bank.
They committed such a crime by resorting to a complex refinancing scheme.
The court rejected Kolomoisky and Bogolyubov's objections, saying their arguments were based on "dishonest grounds." The judge noted that Kolomoisky likely considered himself "above the law" and Bogolyubov used false documents to avoid liability.
It is worth noting that the exact amount of the obligation has not yet been determined.
According to preliminary data, the former owners may well be forced to pay more than 1.7 billion US dollars, excluding interest.
The total amount, including interest and legal costs, could exceed $2 billion.
In addition, the High Court in London also recognized that both former owners actively destroyed documents related to the case.
Privatbank intends to recover losses through the seizure of the defendants' assets.
