The Supreme Court of the United Kingdom refused applications made by Igor Kolomoisky, Gennadiy Bogolyubov and six English and BVI companies for permission to appeal against the judgment given by the Court of Appeal in October 2019, which overturned entirely the decision of the English High Court from November 2018 and confirmed that the English court has jurisdiction to hear PrivatBank's fraud and conspiracy claims.
In a ruling given on 6 April 2020 by Lord Reed, Lord Briggs and Lord Sales, the Supreme Court confirmed that the applications for permission to appeal should be refused "because the applications do not raise an arguable point of law which ought to be considered at this time". The Supreme Court also ordered Kolomoisky, Bogolyubov and the companies to pay PrivatBank's costs of their unsuccessful applications.
There is no further avenue for appeal available to Kolomoisky, Bogolyubov and the companies and the Bank's claims will therefore proceed to trial in the English High Court. The Bank is confident that it will ultimately succeed in recovering the sum of more than US$3 billion claimed in the proceedings.