The UK Supreme Court has refused the former owners of Ukraine's PrivatBank permission to appeal against a $3bn fraud judgment, bringing the appeals process to an end, the Kyiv Independent reports. The state-owned lender, Ukraine's largest bank, announced the decision on 4 November and said it could now continue enforcing the judgment around the world.
PrivatBank was nationalised in 2016 after Ukraine's central bank found a $5.5bn hole in its accounts caused by fraudulent lending. It sued the former owners, oligarchs Ihor Kolomoisky and Hennadiy Boholyubov, in London the following year. A court found them liable in July 2025 and later ordered them to pay more than $3bn in damages and costs, a ruling upheld in May. About $2.5bn of their assets have been frozen worldwide, though a source told the outlet that recovering the money is likely to be slow.
Source: Kyiv Independent
