On Tuesday, July 12, 2022, the Cassation Economic Court as part of the Supreme Court will consider the cassation appeal of PrivatBank against court decisions that recognized the fulfilled obligations of Nikopol Ferroalloy Plant JSC under one of the loan agreements concluded by the previous owners, before the bank was nationalized. According to the editors of ZN. UA, the meeting is scheduled to start at 10:45.

The decision in this case may significantly complicate the consideration of PrivatBank's claims against former owners, which takes place in the United States..

In the Court of Cassation, PrivatBank is challenging the decision of the courts of first and appellate instances in favor of the Nikopol Ferroalloy Plant.

PrivatBank insists on the existence of a scheme by which money was withdrawn from the bank.

In particular, enterprises received credit lines, took money out of the bank and split the amounts: something was laundered, something was redistributed among other companies of the Privat group. This scheme lasted long enough, due to the fact that these loans were repaid with new loans received from the bank..

According to PrivatBank, one of the borrowers involved in the scheme was the Nikopol Ferroalloy Plant..

A year ago, the plant filed about 40 similar lawsuits with the Economic Court of Kyiv, in which they demanded that PrivatBank recognize specific loan agreements (and not the entire credit history of the enterprise) as fulfilled.

Actually, one of these decisions, made in favor of the NFP, is contested by PrivatBank in the cassation.

As PrivatBank insists, in fact, the court was provided with only pieces of a huge puzzle, which did not allow to see the scheme as a whole..

At the same time, the decision of the courts that specific loans were really repaid and the company has no obligations to the bank will complicate the consideration of the bank's claims against the former owners in the United States..

In particular, according to sources in the bank, the decisions of the courts of first instance and appellate instance in the case submitted to the Court of Cassation on July 12 were already referred to by the defendants in the Delaware Chancery Court.. Allegedly, if the bank has no claims to fulfill obligations under a certain loan agreement, then what kind of withdrawal of funds can we talk about.

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Recall that earlier PrivatBank expressed confidence that this lawsuit exists to influence litigation in the United States.

U.S. District Judge Marcia Cook on September 22, 2021 has already granted the request of the Department of Justice and allowed Kolomoisky's company to sell the building in Dallas, arrested in the case of money laundering.

The proceeds from the sale of the property will be used to pay off tax and other debts..

Intentional arson of a steel plant believed to be owned by Kolomoisky is being investigated in Ohio. Subject was under investigation by Grand Jury for money laundering.

Recall also that in March 2021, the United States accused the Ukrainian oligarch and former head of the Dnepropetrovsk Regional State Administration Igor Kolomoisky of involvement in large-scale corruption. Sanctions were also imposed against Koomoisky and his family..