On 13 May 2019, the Sixth Appellate Administrative Court rejected the appeal of the National Bank of Ukraine against the ruling of the Kyiv District Administrative Court dated March 2, 2018, that had satisfied the lawsuit filed by the Cyprus-based companyTriantalInvestments Ltd PrivatBanksformer shareholder.
“The NBU does not agree with the courts ruling and intends to file an appeal in cassation. The procedure and grounds for the conduct of scheduled and unscheduled inspections of banks are stipulated in the relevant Regulation of the NBU. If a banks financial standing is found to have materially deteriorated, it gives the NBU grounds to conduct the necessary inspection, says ViktorHryhorchuk, Head of Litigation…
Read the full article at: https://www.ukrinform.net/rubric-economy/2699503-appellate-court-rules-in-favor-of-privatbanks-former-shareholders.html