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As previously reported [], on 18 December 2019, PrivatBank filed a lawsuit in the District Court of Limassol (Cyprus) against its former owners, Ihor Kolomoisky and Gennadiy Boholyubov, as well as former PrivatBank official Timur Novikov, and two Cypriot companies, PrimeCap Cyprus Limited and Duxton Holdings Limited, which PrivatBank claims are owned and/or controlled by the former owners.

The subject of the Cypriot claim is recovery of multi-billion dollar damages in connection with financial transactions which bear all the hallmarks of fraud and money laundering and were implemented at the direction of I. Kolomoisky and G. Bogolyubov with the assistance of the other defendants.

The claim was served on G. Bogolyubov in February 2022 in accordance with the order of the Cypriot court by service of the relevant documents on his English solicitors.

In addition, on 19 September 2023, notice of the claim was published in the Uryadovyi Kurier newspaper pursuant to the order of the Cypriot court and in accordance with the Hague Convention on Service. On 20 September 2023 at 13:45 the Pecherskyi District Court of Kyiv (Judge Yurii Holovko) will consider case No. 757/6700/23-ц on the service of the claim on G. Bogolyubov by publication.

In 2021, the claim was served on I. Kolomoisky in Ukraine in this case by publication (


PrivatBank takes steps to serve a Cypriot claim on Gennadiy Bogolyubov in Ukraine

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