The court first applied the “andikalovsky” law

Суд впервые применил "антиколомойский" закон

Former shareholders can claim compensation, but not to appeal the contract.

Kyiv economic court on June 12 granted petition of PrivatBank on the closure of proceedings on two claims of the former shareholders of the Bank about recognition void contracts of purchase and sale of shares.

“This is the first real application of the banking law 590-IX Ukrainian courts. After analyzing the case [No. 910/17630/19 under the claim of “Rebates” and No. 910/17541/19 at the suit of OOO “KS Group”], the court came to the conclusion about necessity of satisfaction of the petition Privat and closed the proceedings in both cases,” – said in the message.

The proceedings shall be terminated on the basis of paragraph 7 of the final and transitional provisions of the so-called “anticolonial” law.

“The law 590-IX provides for the right of the former shareholders of banks in compensation of the harm caused, while banning to annul contracts concluded in the process of withdrawal of banks from the market”, – reminded in a press-service.

We will remind that the law on improvement of mechanisms of banking regulation is to ensure that the owners of the failed Bank, including the former owner of PrivatBank Igor Kolomoisky, will not be able to cancel or suspend its liquidation through the courts, to return the Bank itself or to resume his work.

The bill was a key condition for a new loan program from the International monetary Fund.

Some of the deputies have already appealed to the constitutional court and the law itself, and a special procedure by which it was adopted.