Return of PrivatBank to Kolomoisky may lead to default - Poroshenko

Return of PrivatBank to Kolomoisky may lead to default - Poroshenko

Ukrainian President Petro Poroshenko has said that if PrivatBank is returned to its former owner, businessman Ihor Kolomoisky, this may lead to default and a new economic crisis in the country.

The head of state said this in an address broadcast on his page on Facebook.

"One of them [oligarchs], if Zelensky wins, plans to return PrivatBank. As you see, they cannot wait any longer. They have already started implementing this plan. Such an adventure may lead to the fact that tens of millions of clients will lose their money, whereas the country as a whole will face default and a new economic crisis," Poroshenko said.

He added that the National Bank of Ukraine had done the right thing by filing an appeal against the ruling to recognize the nationalization of PrivatBank as illegal.

As reported, on April 18, 2019, Kyiv's District Administrative Court satisfied businessman Ihor Kolomoisky's claim against the National Bank of Ukraine, the Cabinet of Ministers, the Deposit Guarantee Fund and the National Commission on Securities and the Stock Market regarding the nationalization of PrivatBank. The case, which includes over 50 volumes, was considered from June 2017.

The Finance Ministry is preparing to appeal against the court decision regarding the illegal nationalization of PrivatBank. The National Bank of Ukraine will also submit an appeal against the ruling.


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