NBU won the case on refinancing PrivatBank

 

The Supreme Court has put an end in prolonged dispute on the enforcement of obligations PrivatBank in front of the NBU refinancing loans.

About it reports a press-service of the NBU.

We are talking about the claims of companies “Agroterminal logistics” and “Design and research Institute “Wildbeasts” the NBU on the termination of mortgage contracts with JSC CB “PrivatBank”. The plaintiffs, in particular, noted that changes in the corporate portfolio of the borrower (in this case, the change of the owner of the Bank) is a substantial change of circumstances which the parties were guided in the contract, which such contract is subject to termination.

The first and the appellate court upheld the plaintiffs.

The national Bank and JSC CB “PrivatBank” did not agree with such decisions of the judges and asked to appeal in a higher court.

After a thorough examination of the merits of the dispute, the Supreme Court overturned the previous court decision and fully rejected the claims of LLC “Agroterminal” and JSC “PPI “Wildbeasts”.

It is noted that the national Bank expects that in the future the courts will take into account the legal position of the Supreme Court in such disputes.

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