The Supreme Court of Ukraine by its decision of January 25 rejected appeals against the decision of the Kyiv Court of Appeals dated September 25, 2018, by which the court recognized and allowed to execute the decision of the Hague arbitration of May 2 to recover compensation from Russia for the property of former owner of PrivatBank (Kyiv) Ihor Kolomoisky and the affiliated individuals in Crimea.
“The Supreme Court granted permission to execute the ruling of the Permanent Court of Arbitration on the recovery from the Russian Federation of compensation for the property expropriated in the Autonomous Republic of Crimea,” reads a posting on the Sudova Vlada Ukrainy portal.
According to the materials of the case, the Hague arbitration court awarded the plaintiffs a total of about $130.5 million compensation for real estate, $9.2 million compensation for the legal process costs, as well as interest on the indicated amounts at the rate of 12-month LIBOR plus 1% of compound interest annually.
According to the decision of the Kyiv Court of Appeals dated September 25, 2018, writs on the recovery of the specified amounts and interest from the Russian Federation represented by the Ministry of Justice in favor of the plaintiffs must be issued.
