“Court” Returning Privat Bank to Kolomoiski!?????

This is outrageous. So depressing. Ukraine has a bazaar instead of a legal system.

Kolomoiski stoke $5 Billion from Ukraine, whose M2 monetary supply is less than $50B.

The District Administrative Court of Kyiv satisfied Igor Kolomoisky’s claim to the National Bank and the Cabinet of Ministers regarding the privatization of Privatbank.

This is stated on the official website of the court.

The court found it illegal and abolished the decision to withdraw the insolvent “Privatbank” from the market with the participation of the state.

“The court … recognized the illegal decisions of the defendants, which resulted in the nationalization of PJSC CB” Privatbank “, and declared invalid from the moment of the conclusion of a contract of sale by the state of the bank’s shares,” the statement reads.

According to judges, the procedure for withdrawal of “Privatbank” from the market violated the norms of the current legislation.

“The grounds for adopting such a decision were, among other things, the lack of knowledge of the defendants in the availability of statutory grounds for assigning PJSC CB” Privatbank “to the category of insolvent, as a result of which the procedure for its nationalization was initiated, and the violation of the nationalization procedure of the bank itself, the procedure of which is regulated at the legislative level, “the press service of the court reported.

“Thus, the procedure for the nationalization of PJSC CB” Privatbank “was declared unreasonable by the court and carried out with numerous violations of the legislation in effect at that time, resulting in unlawful interference of the state with the right of shareholders of the Bank, including the plaintiff, to peacefully own a proper one property that violates both the requirements of national legislation, including the Constitution of Ukraine, and the provisions of international standards in this area, “the report said.

https://www.pravda.com.ua/news/2019/04/18/7212603/ (Ukrainian)

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