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Asters successfully defended PrivatBank in a dispute challenging its nationalisation

Asters has successfully defended PrivatBank in a case brought by the bank's former owner, Mr Kolomoisky, challenging the nationalisation. The case has been pending in court since 2017.

On 15 November 2023, the Sixth Administrative Court of Appeal overturned the decision of the court of first instance in favour of the former owner of PrivatBank and closed the proceedings based on the provisions of the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Improving the Mechanisms for Regulating Banking Activities" No. 590-IX.

This court's decision confirmed the impossibility of returning PrivatBank to its former owners.

Asters' team working on the case included Co-Managing Partner Oleksiy Didkovskiy, Partner Andriy Pozhidayev, Senior Associates Oleksiy Ukolov and 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.

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