Ukraine’s PrivatBank launches suit against former owner Kolomoisky in U.S.
24 May 2019

Ukraine’s largest lender, PrivatBank, has filed a lawsuit against former owner Ihor Kolomoisky in the Delaware Court of Chancery in the United States, the bank said in a statement on Thursday.

The lawsuit is the latest in a series of legal battles between Kolomoisky and the Ukrainian authorities which nationalized PrivatBank in 2016 as part of a clean-up of the banking system.

The bank accuses Kolomoisky and his associates of the misappropriation and laundering of proceeds of corporate loans issued by PrivatBank while he owned it.

Kolomoisky did not immediately respond to a request for comment but has previously dismissed the allegations as “nonsense” and launched his own lawsuits against the government.

The case has taken on additional significance since the election of Volodymyr Zelenskiy as Ukraine’s new president in April.

By Natalia Zinets and Pavel Polityuk, Reuters, 23 May 2019

Read more at Reuters

Photo: Andrew Butko [CC BY-SA 3.0], via Wikimedia Commons

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