(1) JSC Commercial Bank Privatbank (Respondent/Claimant) v Bogolyubov and others (Applicants/Defendants) (2) JSC Commercial Bank Privatbank (Respondent/Claimant ) v Igor Valeryevich Kolomoisky and others (Applicants/Defendants) (3) JSC Commercial Bank Privatbank (Respondent/Claimant ) v Bogolyubov and others (Applicants/Defendants)
Tuesday 12 and Thursday 14 May 2026
(1-2) By Appellant’s Notice filed on 1 December 2025 the Applicants appeal a decision of the High Court, delivered on 30 July 2025 following trial, and judgment in consequential matters being delivered on 10 November 2025.
PrivatBank sued its former controlling shareholders and related companies following the bank’s nationalisation in December 2016. The bank alleged that, between 2013 and 2014, the defendants carried out a fraudulent scheme extracting over US$1.9 billion.
The court considered whether the defendants controlled the bank and the entities involved, whether the transactions were shams.
The High Court Judge held that the scheme was dishonest, that the transactions and security were shams, and that the loss occurred on drawdown. The defendants were jointly and severally liable under Ukrainian law; repayment and limitation defences were rejected; and unjust enrichment claims succeeded. The court awarded substantial compensation, characterising the case as one of the largest frauds before the English courts. Permission to appeal was refused on 10 November.
(3) By Appellant’s Notice filed on 16 December 2025, the Applicant appeals orders the High Court, dated 10 November 2025.
PrivatBank sued its former controlling shareholders and related companies following the bank’s nationalisation in December 2016. The bank alleged that the defendants carried out a fraudulent scheme. The High Court Judge held that the scheme was dishonest.
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Day 1
Day 2