PrivatBank, the top Ukrainian commercial lender nationalised in 2016 after authorities uncovered a $5.5bn balance sheet hole, is seeking damages of the same amount from the bank’s former owners through a new claim in Cyprus.
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Financial Times: Ukraine’s PrivatBank seeks $5.5 billion damages from oligarchs
PrivatBank said its new claim relates to ‘schemes bearing all the hallmarks of fraud and money laundering which the bank alleges were perpetrated by its former owners.'
