Kolomoisky and Bogolyubov appeal London court ruling in PrivatBank case: details
12 March 12:14
Former PrivatBank owners Ihor Kolomoisky and Hennadiy Boholyubov have filed an appeal with the High Court in London, which has accepted it for consideration.
This was announced by PrivatBank CEO Mikael Björkner in an interview with Forbes Ukraine, according to "Komersant Ukrainian".
When asked about the process of seizing the foreign assets of PrivatBank’s former owners, Björkner said that “there are open questions” in Cyprus. He noted that he hopes PrivatBank will win the court cases there.
“Some of their assets are located in the UK and other jurisdictions where legal proceedings are ongoing. The former owners have filed an appeal against the decision of the High Court in London, and the court has accepted it, which means there will be a new hearing in May,” said the CEO of PrivatBank.
He added that he hopes to get the final result by the end of the year.
“After that, there will be no more appeals, and then we will be able to start receiving assets. We are preparing, looking for assets that are easy to obtain.
We will receive some assets in the first year, but others may take a decade,” concluded Bjorkenert.
On July 30, 2025, the High Court of England and Wales ruled in favor of PrivatBank in a case involving the recovery of assets from the former owners of the financial institution, Ihor Kolomoisky and Hennadiy Boholyubov, who had withdrawn them from the financial institution prior to its nationalization. This decision paves the way for the bank to recover more than $2 billion from its former owners.
After nine months of operation, PrivatBank reported a net profit of UAH 50.6 billion after deducting 25% income tax. Business results without revaluations, credit risk reserves, and taxes reached UAH 62.6 billion, an increase of 15% compared to the same period in 2024.
