The District Administrative Court of Kyiv rejected the claim that PrivatBank’s client D. Kasianenko had filed against the National Bank of Ukraine (NBU), CMU, and DGF to have their decisions canceled. The lawsuit involved third parties, such as the Ministry of Finance of Ukraine, CB PrivatBank, and the Ministry of Justice of Ukraine.
The bank’s client filed the lawsuit with the court back in December 2016. In the lawsuit, he was seeking to cancel the decision on declaring the bank insolvent and introducing provisional administration in it.
Following a comprehensive examination of underlying circumstances, the District Administrative Court of Kyiv delivered a ruling on case No. 826/20453/16 to fully dismiss the claim.
As a side note, the Cabinet of Ministers of Ukraine approved a decision on state participation in the capital of PrivatBank on 18 December 2016. The state was forced to take responsibility for the future fate of PrivatBank and its clients in order to prevent the deterioration of its problems.
Being aware of the importance of CB PrivatBank as a systemic bank for the soundness of the financial sector and Ukraine’s economy as a whole, the NBU had approached the government with a proposal to transfer the ownership of this systemically important bank to the state.
The transfer of CB PrivatBank was conducted in accordance with Article 41.1 of the Law of Ukraine On Households Deposit Guarantee System.
Currently, the bank operates as usual and meets its obligations to its customers and partners.