The Bank asks the court to ban sale of its shares

«Проминвестбанк» просит суд запретить продавать его акции

On 14 August the economic Court of Kiev left without consideration the claim of “Prominvestbank” for PFTS of invalidation and termination of the auctions and provided the plaintiff with a 5-day term to eliminate the deficiencies of the complaint.

According to court records, we are talking about the auction for the sale of 99,77% of shares of “Prominvestbank”, which is scheduled for August 28 (starting price – UAH 532 mln).

This auction is initiated by the State Executive service on the basis of Executive documents issued by the court of Appeal of Kyiv pursuant to the decision of the court of Arbitration in the Hague (Netherlands), which has satisfied the claim “Privat” structures for the recovery of $139 million (plus $20 million interest) from Russia in the person of the Ministry of justice as compensation for the real property expropriated from “privatovets” in Crimea after its annexation by Russia.

The Kyiv appeal court satisfied the petition of the executor and companies associated with Igor Kolomoisky and his partners, and closed the proceedings on the complaint of the Russian state Corporation VNESHECONOMBANK (the owner of “Prominvestbank”) to the actions of the state performer in the consolidated enforcement proceedings No. 59036926 at the conclusion of the contract of sale 99,77% of shares of “Prominvestbank” on PFTS stock exchange.

The Pechersky regional court of Kiev satisfied the petition of the VEB and forbade the State Executive service to perform any action on the sale 99,77% of shares of “Prominvestbank”, and forbade PFTS to carry out any actions on preparation and carrying out of the relevant auction for the sale of the seized shares.

The Kiev court of appeals opened appeal proceedings on appeal “privatovets” the determination of the court of first instance.