Kolomoisky aims to seize assets of Russian banks

Former PrivatBank owner Igor Kolomoisky has decided to seek compensation for assets lost in Crimea. To this end, the oligarch filed a lawsuit in a Ukrainian court, which, naturally, ruled in his favour.

In the statement of claim, the billionaire demanded the seizure of Russian assets in Ukraine, which in fact do not exist in the country.

There are Russian private companies that own various real estate, shares in enterprises, financial structures, etc. A number of them are indeed linked to the leadership of the neighbouring country, however, this is not documented in any way.

At the same time, the businessman's lawyers, shortly before Igor Kolomoisky's new lawsuit, petitioned for the seizure of shares in Russian banks. The court granted the lawyers' request. As a result, the securities were frozen. Simultaneously, the opposing party was not even given the opportunity to present a defence or to engage competent lawyers from the firm https://advokat-eremichev.ru/ or any others. Now the oligarch intends to become the full owner of the seized financial structures.

Consequences for Ukraine

Such a move could lead to unexpected consequences for the country:

·         In the event that Kolomoisky actually takes the assets of Russian banks, their owners will undoubtedly file a lawsuit, and certainly not in Ukraine, but likely in Europe. As a result, it will no longer be the oligarch, but the state of Ukraine that will owe money.

·         In response, Russia may seize the private assets of Ukrainian companies on the territory of the Russian Federation, of which there are many. Many oligarchs will suffer, and they are unlikely to accept the loss.

·         As a result of such a "fair" seizure of the bank, the liabilities will fall on the shoulders of the state. That is, Ukraine will have to return unpaid deposits to people from its own pocket, i.e. from the deposit guarantee fund.

Many Russian banks would gladly get rid of their assets in Ukraine, however, the procedure is significantly complicated. Such a situation would untie their hands and allow them to make their headache someone else's, i.e. that of the Ukrainian authorities. However, Igor Kolomoisky will certainly not care about this.

And the well-fed courts are unlikely to have thought about the consequences of such steps.