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Appeal court arrests stocks of Russian banks in Ukraine’s capital

Appeal court arrests stocks of Russian banks in Ukraine’s capital

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The Appeal Court of Kyiv arrested the stock of Kyiv “Prominvestbank”, “Sberbank” and “VTB Bank” on September 5. It is stated in the court’s order #796/165/18 as Ukrainian News reported.
According to the decision of the court, these bans are banned from liquidation or reorganization of the legal person and hold any actions aiming for sale of the owned property.

The arrest of the stocks of the mentioned banks took place on the lawsuit of a number of companies, including “Aerobud”, “Privatofis”, “Privatlend”, “Everest Istate”, “Teleradiocompania “Zhysa””, “Krym Development”, “Finansovy Kapital”, “Finansovy Vektor”.
The companies filed the proper lawsuit to fulfill the decision of Permanent Court of Arbitration dated May 2 on the recovery of compensation from Russia for real estate annexed in Crimea. Thus, Russia violated the agreement between the Cabinet of Ministers and Russia’s government on promotion and mutual defense of investments dated November 27, 1998, it was decided in the benefit of claimants to collect $130 million from Russia.
According to the decision, there is property owned by Russia in Ukraine and it can be collected.

There are five Russian banks in Ukraine: Sberbank, VTB, BM Bank, Prominvestbank and VS Bank that are under the sanction. The government banned them from the holding of the financial operations for the benefit of the connection to them establishments and persons, including the parent structures.
Earlier Swiss bank Credit Suisse, one of the largest in the State has frozen the accounts of $5 billion associated with Russia due to the USA sanctions. The bank doesn’t reveal the owners’ name of the frozen accounts.
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Appeal court arrests stocks of Russian banks in Ukraine’s capital
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