Contents tagged with Privatbank

  • Ukrainian court has recognized the nationalization of PrivatBank as 'partially illegal'

    On May 17, the Kyiv District Administrative Court recognized the nationalization of Ukraine's largest privately owned bank, PrivatBank, which took place on the night of December 18, as partially illegal. The court considered the claim of six individuals against the National Bank (NBU), the Individual Deposits Guarantee Fund, the Ministry of Finance, and persons authorized to perform interim administration at the Bank at the end of December 2016. The plaintiffs were co-owners of the media group 1 …

  • Chairwomen of the National Bank of Ukrain: The former owners of PrivatBank could face criminal charges

    The Chairwomen of the National Bank of Ukraine, Valeriya Hontaryeva, stated in an interview with Reuters that the former owners of PrivatBank could face criminal charges if auditors reveal that they intentionally brought the financial institution to bankruptcy.

    According to her, the National Bank of Ukraine hired the international audit and consulting firm, Ernst & Young to conduct an audit of PrivatBank. Ernst & Young will verify the solvency of companies that received loans from the former …

  • The debts of major Ukrainian businessmen are far more than Kyiv plans to borrow from the IMF

    The debts of major businessmen are a million times more than Ukraine plans to borrow from the International Monetary Fund until 2018, as stated in the article “Business Behind the Curtain” by Andrey Kaut in a business.ua periodical.

    The edition assessed the amount of debt of major businessmen to domestic and foreign-owned banks and other creditors and compared the debt with the cost of their assets, specified in public research on financial situations of the richest Ukrainians. “The richest …

  • Ukrainian government to nationalize Kolomoyskyi’s bank

    The Ukrainian government decided to nationalize the largest commercial bank in the country, Privatbank, which is owned by Ukrainian oligarch Ihor Kolomoyskyi, the press service of the Cabinet of Ministers reports. The decision was made at a government meeting prior to the press release.

    “The Government supported the proposal of the National Bank and Financial Stability Board to transfer PJSC Privatbank to state property. The state, represented by the Ministry of Finance will become a 100% …