April 18, 2019 / 10:36 AM / a month ago

Ukraine court says PrivatBank nationalisation violated the law

KIEV, April 18 (Reuters) - A Kiev court has ruled that a decision taken in 2016 to nationalise PrivatBank, Ukraine’s largest lender, violated the law, the central bank said in a statement on Thursday.

The central bank, called the National Bank of Ukraine (NBU), said it would appeal the ruling and that it was impossible to reverse the nationalisation.

“The court ruling has yet to come into effect and will be appealed by the NBU,” Viktor Hryhorchuk, head of litigation at the NBU’s Legal Department, said in the statement. (Reporting by Natalia Zinets and Pavel Polityuk; writing by Matthias Williams; Editing by Susan Fenton)

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