London court orders ex-owners of PrivatBank Kolomoisky, Boholiubov to pay over $3 bln – bank
Former owners of PrivatBank, nationalized at the end of 2016, Ihor Kolomoisky and Hennadiy Boholiubov, are required to pay PrivatBank more than $3 billion in damages and legal costs.
The English High Court made this decision on Monday after in July this year that they had perpetrated a massive fraud against it.
"The principal amount of the damages awarded to PrivatBank was assessed at $1,761,957,792. The court also ordered Kolomoisky and Boholiubov to pay interest of $1,190,083,824 and to make a payment on account of PrivatBank’s costs of £76,400,000 ($99,575,371)," PrivatBank said in a statement.
According to these data, the total amount is $3.52 billion.
According to a bank press release, Kolomoisky and Boholiubov both asked the court for permission to appeal against the decision and for a stay of execution pending that appeal. Both of those requests were rejected by the court.
"The above sums are all payable by 24 November 2025, with further interest running on them if they remain unpaid beyond that date," the state financial institution said.
To the extent that these sums are not paid voluntarily, PrivatBank will immediately commence the recovery stage of the process and seek to enforce the judgment against the former owners' assets to obtain compensation for the Bank and, by extension, its shareholder, the Ukrainian Government, the release said.
According to the release, the court ordered Kolomoisky and Boholiubov to pay PrivatBank's costs on the "indemnity" basis, which provides for a greater degree of recovery where the losing party's conduct justifies such an order.
"…the Defendants' cases were inherently incredible and built on deliberate lies," and that Mr Boholiubov's attempt to distance himself from the fraud "was seriously misleading and dishonest."
The court found that both Kolomoisky and Boholiubov were found to have put forward "a case which sought to mislead the court."
PrivatBank is the largest state-owned bank in Ukraine, serving more than 18 million active clients, and in total used by 70% of Ukrainians. The bank employs more than 19,000 people and operates a network of 1,186 branches, 6,850 ATMs, almost 10,400 self-service terminals and over 308,000 POS terminals across the country.
PrivatBank's total assets, according to the National Bank of Ukraine, reached UAH 1.001 trillion as of September 1, 2025, or 25.6% of all banking system assets in Ukraine.
PrivatBank reminded the public that the former owners' assets have been subject to a worldwide freezing order since December 2017.
At the end of October 2025, Alexey Martynov, a co-founder of the Privat financial-industrial group, said his former partners Kolomoisky and Boholiubov might hold crypto assets worth about $4 billion. He claimed that between 2017 and 2020 a "giga-farm" for bitcoin mining may have operated at the Zestafoni ferroalloy plant, using electricity from the plant's owned hydroelectric power station. Martynov said he is prepared to provide Ukrainian prosecutors with a list of possible mining participants who are located in Ukraine.