Former owners of PrivatBank, Ihor Kolomoisky and Gennady Bogolyubov, have filed an appeal against the decision of the High Court of London in the case brought by the bank. The appeal has already been accepted for consideration.
This was announced in an interview by PrivatBank CEO Mikael Björknert.
According to him, the appeals court agreed to consider the complaint of the former owners of the bank, and a new court hearing is scheduled for May.
“ The former owners filed an appeal against the decision of the High Court of London, and the court accepted it. This means that there will be a new hearing in May ,” Björknert noted.
The bank head added that a final decision in the case is expected by the end of the year. After that, he said, the possibilities for further appeals will be exhausted.
“ We hope that by the end of the year we will have a final result. After that, there will be no more possible appeals, and then we will be able to start receiving the assets ,” he said.
After the trial is completed, PrivatBank plans to begin the procedure for returning the assets of its former owners in various jurisdictions.
“ We are preparing for this, looking for where the assets are and which ones can be obtained the fastest. Some assets we can obtain in the first year, but others will probably take years or even decades to return ,” Björknert explained.
The case concerns PrivatBank's claims against its former owners for damages in the amount of over $3 billion.
In November 2025, the High Court in London refused Kolomoisky and Bogolyubov permission to appeal and to stay the execution of the court's decision.
According to the court decision, the former owners were to pay the bank over $3 billion by November 24, 2025. In case of non-payment, the bank receives the right to initiate the procedure for the forced recovery of assets in various jurisdictions.
However, the November decision was not final, as the defendants retained the right to appeal directly to the Court of Appeal of England and Wales, which they exercised.
