Asters successfully defended PrivatBank in a dispute with its former owners, Ihor Kolomoisky and Triantal Investments (Cyprus). Prior to the nationalisation, Kolomoisky owned 41.7% of the bank's shares, while Triantal Investments (Cyprus) held 16.6%. In 2019, they filed a lawsuit seeking to have the agreements made during PrivatBank's nationalisation, under which the state acquired ownership rights to the bank, declared null and void, and to reclaim the bank's shares in their favour.
In May 2024, the court of first instance closed the proceedings by applying the provisions of Law of Ukraine No. 590-IX "On Amendments to Certain Legislative Acts of Ukraine to Improve the Mechanisms for the Regulation of Banking Activities".
The Court of Appeal upheld the closure of the proceedings, confirming that PrivatBank cannot be returned to its former owners.
Asters' litigation team working on the case included Co-Managing Partner Oleksiy Didkovskiy, Partner Andriy Pozhidayev, Counsel Viktor Tarasenkov and Senior Associate Vira Baulina.
More about the case is available via the link.
Asters is the largest full-service law firm in Ukraine with offices in Kyiv, Brussels, London, and Washington, D.C., and access to over 125 jurisdictions through a well-developed network of partner law firms.
