PrivatBank regains ownership of its office building in Dnipro

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Companies that are associated with the former owners of the building tried to sue for ownership of the building for themselves.

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“On Aug. 10, 2022, the Cassation Economic Court, as part of the Supreme Court, overturned the decision of the lower courts, by which PrivatBank was deprived of ownership of one of the largest office buildings in the city of Dnipro,” the bank said in a statement.

The case was referred to the court of first instance.

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The office space was purchased by PrivatBank back in 2014 and has since been reconstructed at the expense of the bank. The value of the building is more than UAH 86 million.

Having canceled the decision of the previous instances, the court also closed cassation proceedings on complaints by Agro Komplekt LLC and PJSC Ingosstrakh. The bank claims that these proceedings were filed merely to strengthen the case against the bank.

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In April this year, PrivatBank regained the rights to another office in Dnipro, worth UAH 152 million in the Court of Appeal. It was also claimed by the former owners of the bank.

Read the original article on The New Voice of Ukraine