London, Kyiv 4 November 2026:

PrivatBank, Ukraine’s largest bank, has yesterday been informed that the UK Supreme Court has refused PrivatBank’s former owners, Igor Kolomoisky and Gennadiy Bogolyubov, permission to appeal against the English court’s order that Mr Kolomoisky and Mr Bogolyubov pay PrivatBank more than US$3 billion in damages, interest and costs.

In July 2025, the High Court found that Messrs Kolomoisky and Bogolyubov perpetrated a huge fraud against the Bank and must compensate it for the losses they caused, running to in excess of US$3 billion. The former owners appealed to the Court of Appeal seeking to overturn that decision, including on the basis that they had repaid the misappropriated sums to the Bank, but those appeals were rejected by the English Court of Appeal on 22 May 2026.

Yesterday’s orders mark the final stage in the appeals process, meaning that the order made by the English court in July 2025 that Mr Kolomoisky and Mr Bogolyubov pay PrivatBank more than US$3 billion in damages, interest and costs may now be enforced in any jurisdiction.

PrivatBank is delighted that the Supreme Court has dismissed the defendants’ applications so quickly, bringing an end to the appeals process, and enabling PrivatBank to continue with its enforcement process.