The National Bank of Ukraine (NBU) intends to appeal the judgement of Kyiv’s District Administrative Court, which found the bail-in illegitimate, according to the regulator’s Facebook page, Segodnya reports.
“The National Bank is indignant with the recent court judgments on the alleged illegitimacy of the state’s entering into Privatbank’s capital and the bail-in procedure. All the decisions on PrivatBank were approved exclusively within the special procedure, stipulated by Article 41-1 of the Law On Individual’s Deposit Insurance Fund”. NBU intends to apply to higher courts for appealing such illegitimate judgments, and is confident in the legitimacy of the bail-in procedure, - NBU reports.
Previously, the individual claimants, whose names are not disclosed, asked to cancel NBU decision, which recognized them as the bank-related individuals, as well as asked the court to declare invalid the PrivatBank’s shares purchase and sale agreement dated 21 December 2016, concluded between the Guarantee Fund and the Ministry of Finance, in respect of the part concerning their rights and interests. The claimants demanded from PrivatBank to return their deposits, written off during the nationalization, amounting to more than UAH 1 billion and lost interests. The court satisfied all their claims.