PrivatBank has won a major victory in the High Court of London in a multibillion-dollar case against its former owners, oligarchs Ihor Kolomoiskyi and Hennadiy Boholiubov, the bank’s press service reported.
“The High Court of London ruled that the two individuals unlawfully misappropriated nearly $2 billion from the bank through a very complex refinancing scheme that operated in the interests of the individual defendants (Kolomoiskyi and Boholiubov),” the statement reads.
The court rejected the oligarchs’ objections, stating that their arguments were based on “dishonest grounds.” Justice William Trower emphasized that Kolomoiskyi likely considered himself ‘above the law’, and Boholiubov used forged documents to evade responsibility.
Although the exact amount of the liability is yet to be determined, PrivatBank says the former owners will likely be required to pay more than $1.7 billion, not including interest. The total amount, including interest and legal costs, could exceed $2 billion.
The court also found that Kolomoiskyi and Boholiubov destroyed documents related to the case. PrivatBank now plans to recover the losses through asset seizures from the oligarchs.
Ukraine and the International Bank for Reconstruction and Development have signed a loan agreement worth $246.5 million under the SURGE program (Supporting Ukraine’s Recovery through Governance Enhancement), the Ministry of Finance reported. The funds will be provided through the ADVANCE Ukraine Multi-Donor Trust Fund, supported by the Government of Japan. “The project aims to support […]
As part of its winter preparations, Ukraine has already received about 400 million cubic meters of American liquefied natural gas (LNG), Naftogaz reported on Monday. The imports are being delivered through two terminals — Świnoujście in Poland and Klaipeda in Lithuania. In total, as of mid-September, around 450 million cubic meters of U.S. LNG have […]
The government plans to abolish work completion certificates. A corresponding draft law has already been submitted to the Verkhovna Rada, Prime Minister Yulia Svyrydenko announced on Telegram. “The government’s bill eliminates the mandatory signing of a work completion certificate to pay for services in non-cash form as proof of service delivery. These changes will make […]
Ukraine’s Gas Transmission System Operator (GTSOU) plans to build the country’s first hydrogen pipeline infrastructure facility. “Our long-term ambition is to create a nationwide hydrogen transportation network. The company takes into account both security factors and commercial considerations — the priority is access to the developed EU market,” explained Oleksandr Haidin, Head of Strategy at […]
Since the beginning of the year, Kyiv has collected a record 34.8 million UAH in tourist tax, which is 65% more than in the same period of 2024, according to the Kyiv City State Administration’s Department of Tourism and Promotion. “2024–2025 marked the beginning of the recovery of Kyiv’s tourism sector. Last year, the capital’s […]
Prime Minister Yuliia Svyrydenko has instructed an audit of subsoil users operating at Ukraine’s strategically important deposits. “I have instructed the Ministry of Economy and the State Service of Geology and Subsoil to audit all subsoil users who have received permits for strategically important deposits. We plan to check who is actually working and who […]
The government has added Kharkiv and the village of Borodianka in the Kyiv region to the list of locations for the pilot rollout of 5G networks. The announcement was made by First Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov. “In addition to Lviv, two more cities—Kharkiv and Borodianka—will join the 5G technology […]
In the first six months of 2025, Ukraine exported goods worth $20.0 billion, down 4.2% compared to the same period last year. Imports amounted to $38.6 billion, according to the State Statistics Service. “In the first half of 2025, goods exports totaled $20,044.9 million, or 95.8% compared to the first half of 2024, while imports […]
Good news from products company Lantmannen AXA was not long in coming! Company asked consumers: “What ingredients do you add most often to granola?” One of the most popular answers is nuts. We launched Super nuts Granola! The design has acquired the corporate style of the AXA Granola line. In combination with oatmeal, crispy honey […]
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The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]
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International Court of Arbitration in New York in a dispute between the UMH – the Ukrainian publisher of “Forbes Ukraine” magazine, and the Forbes Media, LLC American publishing house ruled in favor of the latter on April, 20, and revoked the license of Forbes Ukraine, said in Forbes Media, LLC to the publication LІGA.net UMH […]
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Ukrainian citizens have started receiving National Cashback payments for August, which have reached a record amount since the program’s launch, according to the press service of the Diia app. The total payout amounted to ₴509 million, distributed among more than 3.6 million Ukrainians. These are funds citizens earned by purchasing domestically made goods — in […]
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On Thursday, Advanced Micro Devices Inc. has introduced the long-awaited line of four next-generation Ryzen 5000 series CPUs for the desktop PCs, based on the new Zen 3 architecture. Ryzen 5000 series products are based on the 7-nm manufacturing process of the Taiwan Semiconductor and designed for the computer gamers and the content creators. AMD […]
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The US Federal Aviation Administration (FAA) has ordered the state airline to inspect about 2,500 Boeing 737 aircraft for defective relays and cabin pressure drops. “An undetected failure of both relays could slow the crew’s detection of insufficient cabin pressure and result in the crew losing their ability to work due to hypoxia and, as […]
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The European Bank for Reconstruction and Development (EBRD) has revised down its forecast for Ukraine’s real GDP growth in 2025 from 3.3% to 2.5%, while keeping its 2026 forecast unchanged at 5.0%, conditional on the end of the war with Russia. The update was published in the EBRD’s latest economic report. “Ukraine’s GDP growth is […]
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Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]
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OnlyFans owner Leonid Radvinsky has received record dividends of $701 million, Bloomberg reports. The record payout was revealed in filings from London-based Fenix International Ltd., which operates the platform, amid speculation about a possible sale of the business valued at up to $8 billion. As of the end of 2024, transactions on the platform reached […]
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Recently, the Antimonopoly Committee of Ukraine allowed the company NAP II Holdings B.V. (Netherlands), controlled by the NCH Capital (USA) to acquire more than 50% of the shares of two agricultural enterprises in the Khmelnitskyi region. This is stated on the AMCU website. The permission granted for the purchase of the shares of the companies […]
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This year, Russia is selling gas to China at a nearly 40% discount, according to The Moscow Times, citing data from Russia’s Ministry of Economic Development. In the ministry’s baseline forecast, the average price of Russian gas for exports to distant foreign markets (excluding China)—namely Turkey and the remaining European countries—will amount to $356.7 per […]
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The owner of the largest online store Rozetka.ua, Vladislav Chechetkin accused the retailer “Epicenter” which is developing a network of building supermarkets, in the non-competitive behavior and pressure on suppliers. “Epicenter” for a long time, probably two years, requires the suppliers not to sell the goods in Rozetka.ua. This solicitation sounds like: if your product […]
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According to the preliminary information, the official start of the Uber in Ukraine will take place in Kiev in the first quarter of this year and perhaps in Lviv. As told L?GA.net consultant on site Uberlin (the mediator of the company), a preliminary recruitment of drivers is opened. “Our company has experience with Uber in […]
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Global trade turnover in 2020 will decrease by 7-9%. This was announced on Wednesday, October 21, by the RBC-Ukraine news agency with reference to the report of the UN Conference on Trade and Development UNCTAD. The decline in trade has occurred in all regions of the world due to quarantine restrictions, the report said. They […]
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In December, Volkswagen expects more changes. December 7, 2015 the company went to Qatar, where they had meeting with one of its main investors, Qatar Investment Authority. Volkswagen representative Eric Felber pointed out that the visit is devoted to restructuring and improving the management and the most important shareholders should express their opinion on this […]
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Participating FIS client banks will be able to send and receive large-ticket international corporate payments quickly and securely KYIV – May 15, 2019 – Visa Inc. (NYSE:V) and FIS are joining forces to enable FIS’ commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally*. Visa B2B Connect will be […]
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