As previously [https://en.privatbank.ua/news/2020/4/3/1170] reported, on 18 December 2019 PrivatBank brought a claim before the District Court of Limassol (Cyprus) against its former owners, Igor Kolomoisky and Gennadiy Bogolyubov, as well as Timur Novikov, a former senior executive at PrivatBank, and two Cypriot companies, PrimeCap Cyprus Limited and Duxton Holdings Limited, which PrivatBank claims are owned and/or controlled by Kolomoisky and Bogolyubov.

The subject of the Cypriot claim is compensation in damages of US$5.5 billion for two categories of unlawful transactions, which bear all of the hallmarks of fraud and money laundering, that were implemented at the direction of Kolomoisky and Bogolyubov with the assistance of the other defendants.

On 19 November 2021, PrivatBank published the notices in all-Ukrainian newspapers “Holos Ukrayiny”, “Den’” and “Fakty i Komentari” pursuant to the order of the Cypriot court dated 15 June 2021 and in accordance with the Hague Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters.

According to Cypriot law, the publication of these notices in the print media of Ukraine is proof of service on Kolomoisky of the claim initiated by PrivatBank in Cyprus.