REUTERS
The regulator has developed a clear action plan.
First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova says Ukraine's largest state-owned PrivatBank will continue to operate as usual, regardless of any court ruling in the case of the bank's nationalization – either in favor of the government or in favor of the bank's previous owners.
Read alsoUkraine's PrivatBank connects to UnionPay International payment system
"There can be no pauses in the bank's operation since the bank is not only important to the banking system, but also the largest one today. It accounts for over 50% of payment transactions within the country. Therefore, shutting down such a bank means halting the work of a very large number of entrepreneurs," she told journalists on December 19.
According to Rozhkova, the regulator has a clear action plan for a particular scenario.
It later became known that Kyiv's Sixth Court of Appeals on December 19, 2019, rescheduled a critically important hearing on the PrivatBank nationalization case until the Supreme Court's Grand Chamber considers the Surkis family's case, the Ukrainian news outlet Obozrevatel said.
On December 16, the Supreme Court's Grand Chamber announced a break until January 31 in the consideration of the cassation appeal of the NBU, the Ministry of Finance and Privat Bank against decisions of lower courts on the suit of the Surkis family, who demand the cancellation of the decisions of the National Bank to recognize them as persons affiliated with PrivatBank and invalidate the procedure for the forced conversion of shares into capital.
Thus, Obozrevatel said, the court will be able to return to the consideration of the nationalization case no earlier than in February 2020.
UNIAN memo. Ukraine's Cabinet of Ministers in December 2016 decided to nationalize PrivatBank, guided by the recommendations of the country's National Security and Defense Council.
In April 2019, courts in Ukraine took a number of decisions, including that to cancel the bank's nationalization. Subsequently, PrivatBank, the Cabinet of Ministers and the National Bank appealed against the decisions.