The Sixth Appellate Administrative Court rejected the NBU’s appeal against the ruling of the Kyiv District Administrative Court that satisfied the lawsuit filed by the Cyprus-based company Triantal Investments Ltd – PrivatBank’s former shareholder.
It is reported by the press service of the National Bank.
The National Bank intends to file a cassation appeal against the decisions of the courts, which canceled the order of the National Bank to conduct an inspection at PrivatBank on the eve of its resolving.
“If a bank’s financial standing is found to have materially deteriorated, it gives the NBU grounds to conduct the necessary inspection,” the report stresses.
The National Bank insists that it had grounds for conducting an inspection audit of PrivatBank in 2016, after all, the bank’s financial recovery program agreed with former shareholders and top management was not fulfilled, which is confirmed by the written request of the ex-shareholders to the National Bank on commitments.
“Appealing the regulator’s decision to inspect PrivatBank is part of a push by the bank’s former shareholders to appeal the entire procedure under which the bank was resolved,” the financial institution added.
As The Journalist reported, taxpayers will pay for the decision of the court on compensation to the former owners or the return of PrivatBank.
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