Ukrainian bank stays in public hands

RUSSIA / FSU POLITICS - In Brief 20 Oct 2019 by Alex Teddy

A London court ruled that PrivatBank can pursue claims against its former owners Ihor Kolomoisky and Gennadiy Bogolyubov. The two men have had USD 1.9 billion frozen worldwide. They have failed to have this asset freeze overturned. The news is welcome in Ukraine just as the country is negotiating with the IMF. On October 11 IMF talks stalled over the PrivatBank issue. That is is now resolved. On October 16 the Governor of the Ukrainian Central Bank Yakov Smolii flew to Washington to meet the IMF.President of Zelensky has tried to be reticent on PrivatBank. He is suspected of having Kolomoisky's financial backing. Kolomoisky has not given up hope and has filed hundreds of legal cases against the bank - many of them in Ukraine. In Ukraine not all judges are of unimpeachable integrity.

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