Kyiv Dynamo beats Privatbank in win for former owners
Kyiv Dynamo: 1. Privatbank: 0. That’s the score as of last month, after Ukraine’s Supreme Court ruled against the National Bank of Ukraine in a lawsuit with Kyiv’s Dynamo soccer team. Dynamo sued the NBU over a bail-in of funds at Privatbank after the government took over the troubled lender. The team’s owners — Grigory and Ihor Surkis — were deemed related parties of the bank, causing them to lose nearly $40 million when bank assets were written off. And the Surkis brothers are far from the only related parties afflicted by the nationalization that have the desire and the means to fight back against the government.
Geneva-based Ukrainian oligarch Ihor Kolomoisky talks on the phone next to Kyiv Dynamo soccer club President Ihor Surkis in May 2008. Surkis recently won a Supreme Court case against the state-owned Privatbank, a win for both him and Kolomoisky. (UNIAN)