October 17, 2019 / 9:14 AM / 4 months ago

Kiev commercial court suspends PrivatBank case hearing

KIEV, Oct 17 (Reuters) - A Kiev court has suspended hearing a case about Ukraine’s largest lender PrivatBank until a hearing in a similar case in another court is completed, a PrivatBank lawyer told Reuters on Thursday, confirming a report by Interfax Ukraine.

Kiev’s commercial court was due to hear a case brought by PrivatBank’s former owner Ihor Kolomoisky, who alleges that the sale of PrivatBank shares to the government in 2016 during the lender’s nationalisation was illegal.

The protracted legal battle between Kolomoisky and the Ukrainian authorities is being closely watched by investors and could weigh on Ukraine’s negotiations with the International Monetary Fund for another loan programme. (Reporting by Natalia Zinets; Writing by Matthias Williams; Editing by Mark Potter)

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