Appeal court arrests stocks of Russian banks in Ukraines capital

Appeal court arrests stocks of Russian banks in Ukraines capital
The Appeal Court of Kyiv arrested the stock of Kyiv Prominvestbank, Sberbank and VTB Bank on September 5. It is stated in the courts 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 Russias 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 bankCredit 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 doesnt reveal theownersname of the frozen accounts.
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Appeal court arrests stocks of Russian banks in Ukraines capital
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