latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/privatbank-files-new-claim-against-former-owners-57922704 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Privatbank files new claim against former owners

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive


Privatbank files new claim against former owners

Ukraine-based JSC CB PRIVATBANK filed a new $5.5 billion claim in Cyprus over alleged fraudulent transactions involving its former key shareholders Ihor Kolomoisky and Gennadiy Bogolyubov, former senior executive Timur Novikov and two Cyprus-based companies.

The transactions were carried out between 2013 and 2016 and resulted in large sums being transferred to companies owned by Kolomoisky and Bogolyubov under loan agreements that were never repaid, according to the bank.

The newest claim brings the total value of claims lodged by the bank against its former owners in England, Cyprus, the U.S. and Israel to more than $10 billion, the bank said.

Privatbank was nationalized in 2016, which resulted in multiple lawsuits between the Ukrainian state and the lender's former owners. Parliament recently passed in first reading a bill aimed at preventing the handover of the lender back to its ex-shareholders.