Asters prevailed before the Grand Chamber of the Supreme Court that put an end to ex-owners' attempt to recover PrivatBank's shares

Asters has successfully defended interests of PrivatBank in the Supreme Court. On 15 February 2023, the Court delivered the final ruling, stopping the ex-owners' attempt to return PrivatBank, which was nationalized in 2016.

The Supreme Court applied for the first time the Law of Ukraine No. 590-ІХ, which was adopted to eliminate gaps in Ukrainian legislation, and that previously allowed courts to resuscitate insolvent banks, that were taken off the market due to their insolvency. The Law also prohibits the return of the nationalized banks to their former owners.

The victory in this case will be the basis to close all other court proceedings initiated by the ex-owners of PrivatBank and related persons to challenge the legality of its nationalization.   

Asters' team working on the case included Co-Managing Partner Oleksiy Didkovskiy, Partner Andriy Pozhidayev, Senior Associates Oleksii Ananiichuk, Vira Baulina and Viktor Tarasenkov. 


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 law firm in Ukraine with offices in Kyiv, Washington D.C., London and Brussels. Chambers Europe 2022 recognizes 21 lawyers of Asters — the largest number of the renowned practitioners in a single Ukrainian law firm.

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