Fri, 24 May 2019

A court in Ukraine ruled on April 18 that the governments decision in 2016 to nationalize the countrys biggest lender violated the law.

The National Bank of Ukraine (NBU) vowed to appeal the ruling, arguing it would be impossible to reverse the nationalization of PrivatBank.

The bank was founded by the tycoon Ihor Kolomoyskiy who in the past filed multiple court cases against the decision.

Kolomoyskiy is also a backer of Volodymyr Zelenskiy, the comic actor facing off against incumbent Petro Poroshenko in the countrys presidential runoff on April 21.

Copyright (c) 2018. RFE/RL, Inc. Republished with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036

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