October 15, 2019 / 2:35 PM / a month ago

Former PrivatBank owner says no fraud after defeat in London court appeal

LONDON (Reuters) - Ex-PrivatBank owner Ihor Kolomoisky maintained there was no fraud or loss caused to the lender after the bank won an appeal in a London court on Tuesday, allowing it to pursue claims worth billions of dollars against Kolomoisky and another former PrivatBank owner, Gennadiy Bogolyubov.

Kolomoisky said in an emailed statement that the bank’s claims were misconceived and will ultimately fail.

The case is part of a protracted legal battle between the Ukrainian government and Kolomoisky and Bogolyubov after PrivatBank was forcibly nationalized in 2016 as part of a clean-up of the country’s banking system.

Reporting by Tom Arnold, editing by Karin Strohecker

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