Supreme Court rules in favor of NBU in Kolomoisky’s company case

The Erlan PJSC (TM Biola), owned by Ihor Kolomoisky, has demanded the termination of the mortgage agreement concluded with the National Bank, but the Supreme Court decided in favor of the National Bank and confirmed that the state’s entry into PrivatBank’s capital is not essential for termination of the mortgage agreements concluded before its nationalization, the press center of the National Bank of Ukraine reports.

According to the document, the company pledged UAH 3 billion worth property as collateral to the NBU to secure the refinancing loan. The loan was provided before the nationalization of PrivatBank. The applicant argued that as a result of the state’s entry into the bank’s capital, there was a significant change in circumstances when the creditor (NBU) and the debtor (PrivatBank) merged into one.

The Supreme Court rejected the cassation appeal.

As The Journalist reported, the Ministry of Justice will pay USD 12.5 mln to Kolomoisky oil and gas company.