The Kyiv Court upheld the petition of the LLC “PrivatOffice”, connected with Ihor Kolomoisky, and lifted the arrest of 415 objects of the company’s property. This is stated in the court’s verdict, which was announced in the Unified Register of Judgments on July 12.

The judge came to the conclusion that “the arrest was imposed without proof of the proportionality of the value of the real estate, which was seized, with the amount of damage caused by a criminal offence,” the case file reads.

Recall that the arrest was imposed on April 5, 2017, on land plots, non-residential office premises in different regions of Ukraine. Real estate was arrested at the request of the Prosecutor General’s Office in the framework of criminal proceedings related to the issuance of PrivatBank for the nationalization of loans to related parties on disadvantageous terms, which resulted in a debt of the legal entities to the bank worth UAH 373 million.

As reported, on December 18, 2016, the government of the country referring to the proposal of the NBU and former shareholders of PrivatBank, the largest of which at that time were Kolomoisky and Hennadiy Boholyubov, decided to privatize PrivatBank and poured into its capital more than 155 billion USD.

Ex-owners of the bank consider the nationalization, which resulted in the complete loss of their shares, illegal, while PrivatBank and the state demand additional compensation from them. At present, the parties are litigating, both in Ukraine and in foreign jurisdictions.

According to the National Bank, PrivatBank, on April 1, 2019, ranked 1st among 77 banks in terms of total assets (UAH 525.698 billion).

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