Asters defended PrivatBank in the Supreme Court in the case on recovery of funds in favour of the person related to the bank's former owners

Asters has successfully defended PrivatBank in the Supreme Court, which on 12 April 2023 upheld PrivatBank's cassation appeal and cancelled the unlawful decisions of the courts of Dnipropetrovsk region to recover funds from the state-owned bank in favour of the person related to the bank's former owners.

With its decision, the Supreme Court put an end to the case that began in 2017, and found that there were no legal grounds to recover funds from PrivatBank taking into account that these funds had been legally recovered from the bank account of the plaintiff as a person related to the bank's former owners under the share purchase agreement concluded pursuant to the Law of Ukraine “On Deposit Guarantee System of Individuals” during nationalisation of PrivatBank in 2016.

Asters' team working on the case included Co-Managing Partner Oleksiy Didkovskiy, Partner Andriy Pozhidayev, Senior Associate Vira Baulina.

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PrivatBank is the largest bank in Ukraine, in terms of the number of clients, assets value, loan portfolio and taxes paid to the national budget.

Asters is the largest full-service law firm in Ukraine with offices in Kyiv, Brussels, London, and Washington, D.C. The firm has access to over 125 jurisdictions through a well-developed network of partner law firms. Asters and its lawyers consistently receive recognition by the leading international rankings, namely Chambers & Partners, The Legal 500 EMEA, IFLR1000, GAR1000, GCR100, The Lawyer, Best Lawyers, Who’s Who Legal.