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Following the judgment of 15 October 2019 by the Court of Appeal, concluding that PrivatBank can pursue its fraud and conspiracy claims against Mr Kolomoisky and Mr Bogolyubov in the English court, the Bank confirms that the defendants have now paid over £10 million in costs relating to the first instance hearing in the High Court in 2018 and the appeal in London earlier this year.

The Court of Appeal ordered on 15 October 2019 that the defendants must pay legal costs totaling £10.9 million to the Bank by 12 November 2019. Whilst Messrs Kolomoisky and Bogolyubov paid their share of what is owed on time, the six corporate defendants – English and BVI entities alleged by the Bank to be shell companies controlled by Mr Kolomoisky and Mr Bogolyubov – paid only part of what is due by the deadline, and will need to pay additional interest on the outstanding balance.

The Court of Appeal's order requiring the defendants to reimburse the Bank's costs was made at the time it handed down its judgment which overturned in full the first instance decision of 4 December 2018 of Judge Fancourt, deciding that all the Bank’s grounds of Appeal were justified.

See PrivatBank's previous statements on the Court of Appeal decision here:

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