On 27 November, the Commercial Court of Kyiv closed the case (910/15737/20) filed by Gennadiy Boholyubov to invalidate the transactions made as part of the nationalization of PrivatBank in 2016 and confirmed the statutory impossibility of canceling decisions made during the nationalization of PrivatBank and returning the bank's shares to the former owners. 

The case has been under consideration since 2020.

"In this case, G. Bogolyubov, the former owner of PrivatBank, tried to reclaim the shares of PrivatBank, which was nationalized, as his property. The court, strictly following the provisions of the law, closed the proceedings in this case, as required by Law No. 590. This is certainly a victory for justice and the state as the sole shareholder of the bank," said PrivatBank's lawyer Viktor Tarasenkov. 

In considering the case, the court took into account the practice of the Grand Chamber of the Supreme Court in the case of Oleksandr Dubilet and, on the basis of Law No. 590, finally closed the proceedings in this case on the nationalization of PrivatBank.

In accordance with the provisions of this law, proceedings in all such court cases must be closed if the former shareholders of PrivatBank have chosen an inappropriate way to protect their interests. 

As a reminder, on 15 November 2023, the Sixth Administrative Court of Appeal also confirmed the statutory impossibility of canceling decisions made by state authorities during the nationalization of PrivatBank and returning the bank's shares to the former owners, canceling the unlawful decision of the first instance court and closing the relevant proceedings under the administrative claim filed by I. Kolomoisky.