REUTERS
PrivatBank has appealed the ruling.
The Kyiv Economic Court has satisfied a lawsuit lodged by Arlan LLC, whose ultimate owners are Ihor Kolomoisky and Hennadiy Boholyubov, against the state-owned PrivatBank with regard to UAH 17.3 million (US$640,504).
The court handed down the relevant ruling, the Ukrainian finance news portal Finbalance wrote on April 24.
According to the ruling, Arlan, as PrivatBank's property guarantor on refinancing paid the funds to the National Bank of Ukraine (NBU) based on an amicable agreement approved by the Central Economic Court of Appeals' ruling of September 18, 2019.
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The ruling says PrivatBank's references to the fact that the plaintiff with the conclusion of the mortgage agreement assumed the obligation to be responsible before the creditor in full for the debt under the loan agreement "are unfounded since such liability is limited by the value of the subject of mortgage, including being actually recognized by a third party [the National Bank] with the conclusion of an amicable agreement."
On April 21, Kyiv's Pivnichnyi Economic Court of Appeals initiated proceedings on PrivatBank's appeal against the Kyiv Economic Court's ruling.
As was earlier reported, on February 26, 2020, the said court refused to satisfy the appeals filed by the NBU and PrivatBank, having upheld the Kyiv Economic Court's ruling of December 17, 2019. The ruling satisfied the lawsuit lodged by JSC Nikopol Ferroalloy Plant against PrivatBank. Moreover, UAH 21.85 million (US$808,960) was recovered from the defendant to the claimant's benefit, which the Plant, as guarantor, having fulfilled an amicable agreement, paid to the National Bank as part of the partial repayment of PrivatBank's refinancing debt.
According to NBU reports, PrivatBank at the end of March repaid the refinancing debt to the National Bank worth UAH 2.2 billion (US$81.5 million). Thus, the relevant debt obligations of PrivatBank to the regulator decreased to UAH 2.3 billion (US$85.2 million).