State-owned PrivatBank announced that it had not received over $3 billion from Ihor Kolomoiskyi and Hennadii Boholiubov, as ordered by the court, within the specified timeframe, and is proceeding with the forced execution of the decision, UNN writes.
Details
As reported, November 24 marked the expiration of the deadline set by the High Court of England for the voluntary execution of the November 10 decision.
"According to this decision, Ihor Kolomoiskyi and Hennadii Boholiubov are obliged to pay PrivatBank over 3 billion US dollars to compensate for damages and interest accrued before the decision was rendered. As of today, the defendants have not made any payments to compensate PrivatBank for the damages determined by the court decision. Given that the motion for a general stay of execution of the decision was rejected by the court, the decision is subject to immediate forced execution," PrivatBank reported.
As noted by the bank, the decision of the High Court of England can be enforced not only in the United Kingdom but also in other jurisdictions in accordance with the relevant national legislation of those countries.
"The bank is preparing to initiate procedures for the recognition and enforcement of this decision in a number of jurisdictions outside the United Kingdom, including Ukraine, where the defendants own assets," PrivatBank stated.
The bank emphasized that it has "the experience and resources necessary to use all available legal mechanisms for forced execution - regardless of the complexity of the asset ownership structure."
"Forced execution will be a rather lengthy and complex process. PrivatBank will continue to take all necessary measures to ensure the full execution of the court decision - including through cross-border recovery mechanisms. The bank reaffirms its determination to achieve justice and compensation for the damages incurred, in the interests of clients, the shareholder, and all citizens of Ukraine," the statement reads.
Kolomoisky and Bogolyubov to pay $3 billion to PrivatBank - English court ruling10.11.25, 14:03