Court postpones consideration of Kolomoisky case against PrivatBank on invalidation of five refinancing agreements

On February 9, the Northern Economic Court of Appeal postponed the consideration of an appeal of PrivatBank and the National Bank of Ukraine (NBU) against the court decision in the case of invalidating five PrivatBank refinancing agreements of 2008-2015 and a personal instruction of the ex-shareholder of the bank Ihor Kolomoisky under these agreements.

According to the press service, the consideration of the case was once again postponed for an indefinite period due to the return of a new appeal of a person who had not previously participated in the case by the court.

"The appeal proceedings in this case last for almost 600 days, with the legally defined maximum 60 days, which indicates a gross violation of the procedural deadline for considering the case," Head of PrivatBank's litigation and bankruptcy department Oleh Lazovsky said.

The press service recalled that Kolomoisky, who at that time was a co-owner of PrivatBank, in 2016 signed personal guarantee agreements with the National Bank to repay five PrivatBank refinancing loans received in 2008-2015.

In April 2019, the businessman filed five lawsuits against the NBU and PrivatBank, in which he is trying to appeal against these refinancing agreements and his personal instruction under these agreements. In May 2019, all five claims were consolidated into one proceeding.

On June 19, 2020, the Kyiv Economic Court satisfied Kolomoisky's claim and invalidated both his personal guarantee for refinancing loans that PrivatBank took from the NBU in the period before nationalization, and the loan agreements themselves.