Enyo Law is representing Gennadiy Bogolyubov, a Ukrainian ultra-high net worth businessman, in defending a claim for almost £2 billion, brought by PrivatBank, the largest bank in Ukraine.
Established and owned by Mr Bogolyubov and Igor Kolomoisky, the Ukrainian government nationalised PrivatBank in 2016. It alleges that substantial fraudulent loans were made to companies associated with Mr Bogolyubov and/or Mr Kolomoisky prior to the bank’s expropriation by the Ukrainian state.
Mr Bogolyubov’s response to the claim has so far included a successful challenge to the jurisdiction of the English court, following which an associated Worldwide Freezing Order was discharged. This involved several legally complex areas of private international law, including aspects of the Lugano Convention and Recast Brussels Regulation.
This case is part of an ongoing legal battle between the Ukrainian government to recoup an alleged c.$5.5 billion hole in PrivatBank’s finances, that it claims is due to its previous lending practices. This is denied by Mr Bogolyubov and Mr Kolomoisky.
This case follows the successful defence of a $300 million claim against Mr Bogolyubov (represented by Enyo Law), Mr Kolomoisky and Others, in a judgement handed down in February 2021.