June 15, 2020 / 4:54 PM / a month ago

Ukraine Supreme Court rules in favour of government in PrivatBank bail-in case

KYIV, June 15 (Reuters) - Ukraine’s Supreme Court ruled on Monday that PrivatBank did not have to pay back more than 1 billion hryvnias ($37 million) to two businessmen who lost money due to the nationalisation of the country’s biggest lender in 2016, a bank spokesman said.

The central bank had recognised brothers Hryhoriy and Ihor Surkis as related parties and included money from their deposits in PrivatBank in a bail-in. The Surkis brothers challenged that decision in a legal battle that ended up in the Supreme Court. (Reporting by Natalia Zinets; Editing by Matthias Williams)

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