The Court of Appeal in London has today overturned the decision of the judge Mr Fancourt. The Court ruled that PrivatBank JSC could continue in the High Court in London to pursue claims regarding alleged fraud against Ihor Kolomoisky and Hennadii Bogoliubov, three English companies and three companies registered in the British Virgin Islands.
The PrivatBank had originally claimed $1.9 billion, aftermath increasing to $ 2.6 billion, and is currently claiming about $ 3 billion, with accounting for interests.
The worldwide asset freeze, which was granted in December 2017, would remain in place pending the delivery of the judgement on the merits.
The Court of Appeal also refused to grant the defendants permission to appeal the decision and ordered them to file a line of defense against the lawsuit by the end of November, meaning that the Bank could proceed with the case without any delay. The date of the consideration of the case on the merits will in the due course be determined by the court.