PrivatBank has finally won its appeal against Kolomoisky and Bogolyubov in London
PrivatBank announced this on its Telegram channel.
The Court of Appeal in England upheld the decision of the court of first instance in the case of PrivatBank against its former owners, Ihor Kolomoyskyi and Hennadiy Boholyubov.
The court rejected attempts by the bank’s former owners to appeal the July 2025 ruling.
Consequently, the ruling to recover over $3 billion from Kolomoisky and Bogolyubov remains in force.
What the court established
According to PrivatBank, the Court of Appeal fully agreed with the findings of the High Court of England and Wales.
These findings state that Kolomoisky and Bogolyubov committed large-scale fraud against the bank.
The judges also rejected the former owners’ argument that they had allegedly returned the misappropriated funds.
According to the defendants, the money used for this came from subsequent actions against the bank, which the court also deemed to be fraudulent.
How PrivatBank will recover the funds
PrivatBank noted that a court order for the worldwide seizure of the defendants’ assets has been in force in the case since 2017.
Following the Court of Appeal’s decision, the bank is commencing enforcement proceedings.
The funds received are to be used to compensate PrivatBank and its sole shareholder – the Cabinet of Ministers of Ukraine – for their losses.
The Supervisory Board’s position
Nils Melngailis, Chairman of PrivatBank’s Supervisory Board, described this decision as a landmark day in the fight for justice in the interests of the Ukrainian people.
He also confirmed the bank’s intention to recover the stolen funds.
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